Mytheresa, which is headquartered in Germany and sells luxury brands including Burberry and Gucci, could be valued at as much as £1bn.

Originally founded as a bricks-and-mortar store in Munich, Mytheresa launched its online business in 2006 and has since grown to trade in approximately 140 countries including the UK.

In its last financial year, Mytheresa generated net sales of €449.5m – up 8.6% on the previous year. Net income rose to €6.4m versus €1.7m in 2019.