MyTheresa launches on JD.com
German e-commerce giant MyTheresa this month opened an online stall on Chinese marketplace JD.com, as the luxury retailer looks to extend its reach into China.
Via MyTheresa's e-boutique on JD.com, Chinese shoppers can now purchase more than 2,200 luxury fashion and accessories items from 49 brands, including Isabel Marant, The Row, Off-White, Ganni, Thom Browne, Oscar de la Renta and David Koma.
Other brands to feature include Alaïa, Balmain, Roger Vivier, Versace, Marine Serre and Lemaire.
The Munich-based MyTheresa purchases made via JD.com will be dispatched from Europe and shoppers can expect a 30-day free return policy.
Both MyTheresa and JD.com failed to disclose the partnership, making the European retailer's China debut appear to be a soft launch at this stage.
The news comes as China’s luxury goods market finished 2021 with strong double-digit growth overall, with some brands exceeding a 70% increase, according to Bain & Co. Despite mounting global social and economic challenges, Chinese consumers have continued to shop mostly in the mainland, given limited international travel options, the research firm added.
In its most recent trading update in February, MyTheresa announced that for its latest quarter net sales rose 18.3% on a one-year basis to €187.6 million, while adjusted EBITDA of €28.3 million was up 27.8%.
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