What: Mytheresa is one of the few e-commerce players that has remained consistently profitable in the past years.

Why it is important: Their success suggests that e-commerce multibrand retail can deliver profits only with high-margin products such as luxury goods.

German luxury retailer Mytheresa announced preliminary Q3 results with net sales between EUR 196- EUR 199 million, up from EUR 169.5 million in the prior-year quarter.

Gross merchandise value (GMV) is expected to be between EUR 218- EUR 221 million, compared to EUR 186.6 million last year. Adjusted EBITDA is estimated to be between EUR 34- EUR 43 million, up from EUR 10.2 million. The company updated its 2023 guidance, expecting GMV growth of 13%-15% and net sales growth of 9%-11%.

The retailer also recently launched its China Designer Program, focusing on growing its business in China and promoting Chinese fashion designers.

Mytheresa’s sales are growing in spite of the general slowdown