Entrupy’s Post

🚀 𝐓𝐡𝐫𝐢𝐯𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐎𝐧𝐥𝐢𝐧𝐞 𝐋𝐮𝐱𝐮𝐫𝐲 𝐒𝐞𝐜𝐭𝐨𝐫: Mytheresa Delivers Strong Sales Growth Amidst Competitive Challenges. 𝐁𝐞𝐥𝐨𝐰 𝐚𝐫𝐞 𝐤𝐞𝐲 𝐝𝐚𝐭𝐚 𝐩𝐨𝐢𝐧𝐭𝐬 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐲𝐭𝐡𝐞𝐫𝐞𝐬𝐚'𝐬 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐞𝐜𝐨𝐧𝐝 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 𝐨𝐟 𝐟𝐢𝐬𝐜𝐚𝐥 2023: ●Mytheresa's overall sales grew by 8.3% to €197 million ($212 million) in Q2 fiscal 2023. ●US sales surged by 18% during the same period. ●The number of US shoppers in the high-spending cohort increased by 48%. ●Overall gross merchandise volume (GMV) increased by 6% to €219 million ($235 million) in constant currency basis. ●However, there was a 55% year-over-year drop in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching €8 million in Q2. ●Mytheresa aims for a GMV increase of up to 13% for the fiscal year ending in June. ●Stock closed up 20% following the earnings release. 𝐌𝐢𝐜𝐡𝐚𝐞𝐥 𝐊𝐥𝐢𝐠𝐞𝐫, 𝐂𝐄𝐎 𝐚𝐭 𝐌𝐲𝐭𝐡𝐞𝐫𝐞𝐬𝐚, 𝐬𝐭𝐚𝐭𝐞𝐝 𝐝𝐮𝐫𝐢𝐧𝐠 𝐚𝐧 𝐢𝐧𝐭𝐞𝐫𝐯𝐢𝐞𝐰 𝐰𝐢𝐭𝐡 The Business of Fashion, 𝐭𝐡𝐢𝐬 𝐠𝐫𝐨𝐰𝐭𝐡 𝐢𝐬 𝐭𝐡𝐞 𝐜𝐨𝐧𝐬𝐞𝐪𝐮𝐞𝐧𝐜𝐞 𝐨𝐟: 1️⃣ The company’s focus on courting 𝐡𝐢𝐠𝐡-𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬 with 𝐞𝐧𝐯𝐢𝐚𝐛𝐥𝐞 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐬, such as bringing clients to a private rehearsal of the New York City Ballet. That led to the number of US shoppers in that cohort jumping 48 percent in the company’s second quarter. 2️⃣ Mytheresa benefiting from its peers’ woes. For most of 2023, companies like Net-a-Porter, Matches and Farfetch saw 𝐝𝐨𝐮𝐛𝐥𝐞 𝐝𝐢𝐠𝐢𝐭 𝐝𝐫𝐨𝐩𝐬 𝐢𝐧 𝐔𝐒 𝐬𝐚𝐥𝐞𝐬. Very much in line with the company's bet on 𝐚𝐩𝐩𝐞𝐚𝐥𝐢𝐧𝐠 𝐭𝐨 𝐭𝐨𝐩 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠 𝐜𝐥𝐢𝐞𝐧𝐭𝐬 as a strategy to avoid the same fate of their competitors, you can find below a 𝐬𝐡𝐨𝐫𝐭 𝐯𝐞𝐫𝐬𝐢𝐨𝐧 𝐨𝐟 𝐚 𝐜𝐚𝐬𝐞 𝐬𝐭𝐮𝐝𝐲 𝐈 𝐩𝐮𝐭 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞𝐦 𝐚 𝐲𝐞𝐚𝐫 𝐚𝐠𝐨. 😏 Also, to whom it may concern, may I please attend the Italian retreat in May?!

It’s not about what you, the seller, KNOW. It’s about what consumers DON’T KNOW. Our technology gives small businesses the stamp of trust & authenticity needed to compete with the industry’s biggest players in luxury and sneaker resale. 🤝 👉 Entrupy CEO, Vidyuth Srinivasan, on the power of authenticity If you’re new here, hi! 👋 We build scalable AI-powered solutions for brands, manufacturers + resellers. Follow Entrupy for the latest trends in luxury and sneaker resale. #AI #resellers #marketplaces #pawnshops #luxuryresell #consignment

It’s not about what you, the seller, KNOW. It’s about what consumers DON’T KNOW. Our technology gives small businesses the stamp of trust & authenticity needed to compete with the industry’s biggest players in luxury and sneaker resale. 🤝 👉 Entrupy CEO, Vidyuth Srinivasan, on the power of authenticity If you’re new here, hi! 👋 We build scalable AI-powered solutions for brands, manufacturers + resellers. Follow Entrupy for the latest trends in luxury and sneaker resale. #AI #resellers #marketplaces #pawnshops #luxuryresell #consignment

Navigating The Shifting Landscape Of Luxury Fashion And Retail, Is There A Future For Marketplaces? With recent news about the Farfetch struggles and then Matches going into administration I have been delving into the evolving dynamics of the luxury fashion and retail industry. There are a number of trends and challenges shaping the landscape. From the impact of digital transformation to the changing role of curated experiences, Check out my blog for a closer look at the key points you need to be aware of as you navigate retail. #marketplace #retail #luxuryfashion https://lnkd.in/eynv-TTv

🟥 The dawn and demise of #retail disruptors: How the last 20 years changed #shopping ♦️ “In the age of the internet, much promise for new ways to buy fashion later cracked under pressure. Now, we’re entering an age of #normalization.” By Maghan McDowell for Vogue Business ♦️ What an excellent read about the evolution of shopping for fashion over the past 20 years; starting with Web1 all the way to Web3; from the infancy of ecommerce to the massive digital transformation all across the industry! The fashion industry seems to have found balance in “keeping it simple.” #retail #ecommerce #socialcommerce #socialmedia #Instagram #TikTok #Meta #Amazon #Netaporter #Farfetch #digitalfashion #TheRealReal #Renttherunway #vr #ar #ai #genai #3d #4d #stores #phygital #metaverse #sdg2030 #esg #Richemont #StitchFix #fashiontech #customerservice #cx #sustainablefashion #customerexperiences #fashiontechnology #retailtech #digitaltransformation #thefutureofshopping https://lnkd.in/er6ShaQu

Yet another fairy tale ending bad. Too soon. Is there any future for Luxury e-tailers? After the pandemic bubble bursted, many companies that were predicted to reshape the habits of consumers are struggling simply to survive. It happened to Farfetch, it’s now happening to Matches but it’s the same fate affecting Peloton on a completely different landscape. The question I’m wondering here is, why did the professional world believed so much in this transformation to invest such high amounts of money? Was it just the willingness to find the new eldorado (again) on the web and easily make a 10x return on investment? I believe we’re now all grown up in the web era, and we have all of the knowledge requested to better focus on what could turn to a profitable opportunity, avoiding those situations where numbers are just doped. Maybe it’s just about people who actually are professionals in the industry with a tech and numeric background. While the ones with the money prefere to keep get drunk each time somebody tells the same fairy tale of easymoney? BTW as a consumer I loved the experience on Matches. Was one of the best on the market. #matches #luxury #fashion #etailers #web #crash #money #deadend

👟💥 Curious about the Impact of Sneaker Bots on the Market? 👟💥 Sneaker bots have become a hot topic in the world of sneakers, revolutionizing the way we buy and sell these coveted kicks. These automated software programs have not only changed the game for sneaker enthusiasts but also left a significant mark on the market. 🚀 How do sneaker bots affect the market? 🚀 1️⃣ Limited Supply vs. High Demand: With sneaker releases becoming increasingly limited, bots give users an advantage in securing highly sought-after pairs, leading to inflated resale prices and scarcity in the market. 2️⃣ Retailer Challenges: Sneaker bots have posed challenges for retailers trying to combat unfair purchasing practices, leading to frustration for genuine customers and impacting brand reputation. 3️⃣ Resale Market Dynamics: The rise of sneaker bots has transformed the resale market, influencing pricing trends and creating a new ecosystem for

Is Online Shopping Stuck in a Rut? 🛒 As an avid online shopper, I've noticed that across most marketplaces, the experience feels... well, the same. You know the drill: 🔄 A monotonous filtering and sorting process 🎡 Get bombarded with carousel-style discount offers 👁️ And yes, if you've ever bought a pair of Levi's, expect to see them everywhere—even when you're looking for something new! It got me thinking: Are we all just going through the same motions or there's room for something fresh, something that makes shopping exciting again. What do you think? 🤔 #onlineshopping #fashion #startup

STORY3 INVESTS IN LUXURY ECOMMERCE PLATFORM SAKS.COM FashionUnited STORY3 Capital Partners has announced a significant new investment in luxury ecommerce destinations Saks.com. Commenting on funding in Saks, Peter Comisar, founder and managing partner of STORY3 Capital Partners and former Goldman Sachs Partner, stated, "We believe we are at the early innings of powerful global growth and penetration for luxury brands. As new international regions become enchanted with the culture of fashion, no one is better positioned to be the beacon of taste and omni-channel excellence than Saks." The company said in a statement that the new investment provides liquidity for Saks' next wave of growth including support for its distinguished product curation driven partnerships with the world's leading luxury brands. "Saks has exponential growth potential empowered by the tipping point of AI, personalization and resultant cohort monetization. As such, Saks is well positioned to be the leading global voice and influencer in luxury," added Samir Shah, Story3 partner. https://lnkd.in/gAm_E6Rn #ai #ecommerce #investment #fashion #btc #metaverse

Another one bites the dust! Matchesfashion is closing just 2 months after its acquisition. Yes, you read that right. No, it doesn't matter that they were acquired for £52 million! This isn't just another store closing its doors; it's a potential turning point for the way luxury brands reach online shoppers. MATCHES's struggles highlight the challenges faced by luxury aggregators. While these platforms once offered a convenient way for consumers to discover a range of high-end brands, the tides are turning. Here are some questions we should be asking: 🔥 Are luxury consumers losing their appetite for curated collections? 🔥 Do they crave a more direct brand relationship in today's digital age? 🔥 And what does this mean for the future of luxury acquisitions? The Matchesfashion story isn't an isolated incident. Other luxury e-commerce aggregators, like Yoox, Farfetch, Net-a-Porter and LuisaViaRoma, have also faced financial difficulties in recent years. Sources mention rising digital customer acquisition costs, pressure to discount margins, and brands increasingly selling directly on their own websites as reasons for downturns. This trend essentially means that luxury consumers may be losing their appetite for curated collections. With so much information available online, shoppers can now easily discover and research brands on their own. Additionally, they may crave a more direct brand relationship, seeking a more personalized experience than what aggregators can offer. Basically, everyone wants attention. The MATCHES story also raises concerns about the financial health of the fashion industry as a whole. With mammoths like them collapsing, it's clear that even established brands are not immune to the current economic climate. What do you think is happening here? Do you need a personalized sales associate when you go shopping? Or do you want to be left alone? Share your thoughts in the comments below. #luxuryfashion #ecommerce #matchesfashion #retail #fashionindustry