Can Mytheresa make luxury e-commerce a success?
It reckons it can succeed where Richemont has failed
Not long ago, as consumers emerged from pandemic lockdowns, it seemed the moment for luxury e-commerce had arrived. Cashed-up shoppers, now accustomed to buying almost anything online, were hunting for new outfits to parade in. Online purchases of luxury goods hit €73bn ($80bn) globally in 2022, up from €33bn in 2019, outpacing the already rapid growth of in-store luxury sales, according to Bain, a consultancy (see chart).
This article appeared in the Business section of the print edition under the headline “A digital makeover”
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