German luxury e-commerce company Mytheresa is expanding into the U.S.

It’s been three months since German luxury e-commerce company Mytheresa (MYTE) went public on the New York Stock Exchange on January 21, and now the company is eyeing expansion in the United States by building a team in the country and launching a brand awareness campaign.

On April 22, the German-based luxury e-commerce platform recently announced the appointment of a new North American president, Heather Kaminetsky, who served as chief brand officer at direct-to-consumer startup M.Gemi and will take up the position starting in June. She will be responsible for all customer-facing activities of the retailer in the North American market, including personal shopping, communication and membership marketing.

In addition, Mytheresa has launched a campaign that includes a digital campaign with The Wall Street Journal called “The One” and a collaboration with design expert and author Athena Calderone. It also plans to launch a social media campaign with “key U.S. influencers” between April and June.

“The U.S. is an important growth market for Mytheresa," CEO Michael Kliger said in a statement. "This is a game changer for us, with a dedicated local team in place to make more consumers aware of our unique value proposition and deliver the best-in-class shopping experience our customers expect."

According to Mytheresa, the move is the "logical next step" in an aggressive strategy to increase market share in the U.S. and Canada. In the first six months of fiscal 2021, the company reported an 11.5% share of total U.S. net revenue, compared to 10.5% in the same period last year , adding that this figure increased by nearly 43% in the first half of fiscal 2021 compared to 2020.

Last year, Mytheresa had more than 486,000 active customers, generated €449.5 million ($547 million) in sales, and shipped more than 1.09 million orders to 133 countries. The luxury goods market has been hit hard during the COVID-19 health crisis, and experts suggest that the acceleration of digital adoption has boosted Mytheresa's growth while hurting brick-and-mortar luxury rivals. The retailer has served women exclusively since its founding in 1987, but entered the menswear market in a big way last year .

E-commerce platform

Cross-border e-commerce market

Germany