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LuxExperience — parent company of Mytheresa, Net-a-Porter, Mr Porter, Yoox and The Outnet — said net sales grew 8.9 per cent to €916.1 million in the year ended 30 June 2025.
In Q4, sales increased 11.5 per cent to €248.9 million, marking the first quarter the company reported sales results from all brands following Mytheresa’s acquisition of Yoox Net-a-Porter (YNAP) earlier this year. Adjusted EBITDA was €44.6 million for the full year, up from €25.8 million in 2024, with an adjusted margin of 4.9 per cent. Gross profit margin increased from 130 basis points to 47 per cent.
“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,” said LuxExperience CEO Michael Kliger in a statement.
Mytheresa finalised its acquisition of YNAP in April, creating the new parent company, LuxExperience. In the earnings press release, the group highlighted that its transition to a new operating model is almost finalised. This has taken place alongside the transformation of its finance and HR functions; a tech migration for the luxury division (Mytheresa, Net-a-Porter and Mr Porter); a simplification of the off-price division’s (Yoox and The Outnet) tech stack; and ongoing cost-reduction actions. Earlier this month, 700 YNAP employees were laid off as part of the reorganisation.
The company expects 2026 to be a “transition year”, the earnings release stated. The company reported that its “medium-term goal” (in the next four to six years) is to reach €4 billion in net sales, with an adjusted EBITDA of 7 to 9 per cent (the company did not specify an exact time frame). In 2026, LuxExperience forecasts that its gross merchandise value (GMV) will reach between €2.5 and €2.9 billion, and that Mytheresa will continue to grow its GMV while Net-a-Porter and Mr Porter’s will decline slightly. It will continue to restructure the off-price division, leading to a “considerable” decrease in GMV (earlier this year, there were rumours that it would shut down the off-price division entirely, but the company dismissed them at the time) and expects profitability levels across the group to stay roughly the same.
“LuxExperience is in a remarkable position to become the one and only destination for luxury enthusiasts worldwide, bringing together some of the most iconic brands in digital luxury retail,” said Kliger. “I am very pleased with the fast start of the group transformation, to leverage the scale and scope for strong growth and profitability for the whole group.”
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