By Oriana Ren
Sources: forbes.com, nymag.com
Neiman Marcus has recently purchased mytheresa.com, an upscale fashion website base. Although the website is based in Munich, Germany, mytheresa.com is rapidly expanding its influences on a global scale by gaining traction in other parts of Europe and Asia. Neiman Marcus hopes that this new acquisition will provide them valuable insight to the current global fashion scene.
Mytheresa.com originally began as a store called Theresa, located in Munich for 27 years; however, after the founders, Christoph and Suzanne Botschen, launched their online website, their sales suddenly skyrocketed. In fact, they have successfully sold their apparel, shoes, bags, jewelry and other accessories to over 127 countries and generated an estimated net sales of 100 million Euro (~$130 million.) While a large portion of their products are from German brands, they offer other well-known luxury brands such as Dolce & Gabbana, Fendi, Miu Miu, Prada and Valentino. In addition, the site also has a section called “inspiration,” which helps guidance for customers who are shopping for a particular occasion. Mytheresa.com certainly lives up to its reputation as one of the world’s leading online luxury stores. The styles and brands sold on mytheresa.com are perfectly consistent with those found in Neiman Marcus department stores, making it very understandable why Neiman Marcus has made this bold purchase.