Can Mytheresa Keep Its Place at the Top of Luxury E-Commerce in 2025?

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Being a multi-brand luxury retailer online has never been harder. There are the high costs to acquire new customers, the ever-present problem of excess inventory and brands that prefer to sell on their own sites. A broader luxury slowdown has triggered a shakeout in the category, with Matches entering administration and Farfetch being acquired by Korean e-commerce giant Coupang in a fire sale.

Rather than attempting to compete on price or endless selection, survivors must…