LuxExperience FY25: Mytheresa drives growth amid restructuring

LuxExperience B.V., the leading luxury multi-brand digital platform, has announced its financial results for the fourth quarter and full fiscal year 2025. The company's core Mytheresa business reported strong growth, with net sales increasing by 11.5 percent in the fourth quarter to 248.9 million euros, and by 8.9 percent for the full fiscal year to 916.1 million euros. Adjusted EBITDA for the Mytheresa segment grew to 44.6 million euros for the full year, with the adjusted EBITDA margin expanding to 4.9 percent.

The reported consolidated results for the company also include the performance of its recently acquired YNAP store brands for the first time.

Strategic restructuring and leadership

LuxExperience operates a portfolio that includes some of the most distinguished store brands in digital luxury, such as Mytheresa, Net-A-Porter, and Mr Porter, which collectively make up the luxury segments, while the off-price segment consists of Yoox and The Outnet.

CEO Michael Kliger expressed his satisfaction with the results, stating, “I am extremely pleased with the results of our Mytheresa business. We have demonstrated clear operational and financial leadership in digital luxury. We have the expertise and track-record of achieving consistently profitable growth in digital luxury at LuxExperience.” He noted that the company is in a "remarkable position to become the one and only destination for luxury enthusiasts worldwide."

In a move to streamline operations and drive growth, the company has almost completed its reorganisation to a new operating model. This includes a partial workforce reduction across YNAP and the appointment of new leadership teams for Net-A-Porter and Mr Porter. The company has also begun to separate and simplify the business models of its luxury and off-price segments.

Financial outlook and future vision

For fiscal year 2026, LuxExperience expects group-level gross merchandise value (GMV) to be between 2.5 billion euros and 2.9 billion euros. While the Mytheresa segment is expected to continue growing, the NAP & MRP luxury segment is projected to see a slight decline in GMV, and the off-price Yoox & The Outnet segment is expected to "decrease considerably" as it continues its restructuring. The Group's adjusted EBITDA margin for fiscal year 2026 is projected to be between negative 4 percent and positive 1 percent.

Looking further ahead, the company has reaffirmed its medium-term annual growth rates of 10 to 15 percent and targets achieving 4 billion euros in net sales and an adjusted EBITDA margin of 7 percent to 9 percent.