The gross profit margin expanded to 48.3 per cent, an improvement of 90 basis points (bps) compared with Q4 FY24. The adjusted EBITDA increased to €16.1 million, with margins improving to 6.5 per cent from 4.7 per cent.
LuxExperience BV has reported FY25 results with Mytheresa net sales up 11.5 per cent in Q4 to €248.9 million (~$291.2 million) and 8.9 per cent annually to €916.1 million (~$1.07 billion).
GMV rose 11.1 per cent in Q4 and 8.2 per cent for the year, while adjusted EBITDA more than doubled to €44.6 million.
The group advanced reorganisation post-YNAP acquisition and expects FY26 to be a transition year.
Customer economics were strong, with GMV per customer up 13 per cent and top customer GMV increasing 16.1 per cent compared with Q4 FY24. The average order value climbed 10 per cent to €773, while the US market contributed 20.6 per cent of total net sales following 9.7 per cent growth, LuxExperience said in a press release.
For the full fiscal, Mytheresa achieved net sales of €916.1 million (~$1.07 billion), up 8.9 per cent compared with FY24, while GMV grew 8.2 per cent to €988.5 million. The gross profit margin improved to 47 per cent, an increase of 130 basis points. Adjusted EBITDA more than doubled YoY to €44.6 million from €25.8 million, with profitability rising to 4.9 per cent from 3.1 per cent in FY24.
“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 Michael Kliger, CEO at LuxExperience.
At the group level, LuxExperience nearly completed its reorganisation into a new operating model, initiating cost reduction measures, tech migration, and transformation of finance and HR functions, alongside partial workforce cuts at YNAP.
Mytheresa launched exclusive capsule collections with brands such as Dolce & Gabbana, Versace, and Bottega Veneta, while hosting premium customer events worldwide. At Net-A-Porter and MR Porter, new leadership teams were appointed to strengthen strategy. Meanwhile, Yoox and The Outnet began separating their business models from luxury operations, with dedicated leadership and streamlined functions in finance, HR, operations, and technology.
Looking ahead, LuxExperience expects FY26 to be a transition year, with GMV projected between €2.5 billion and €2.9 billion and an adjusted EBITDA margin ranging between -4 per cent and +1 per cent. Mytheresa is forecast to maintain its growth trajectory, while Net-A-Porter and Mr Porter may see slight GMV declines, and Yoox and The Outnet will continue restructuring efforts.
“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. 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,” added Kligner. “Medium-term we expect to reach €4 billion in net sales and an adjusted EBITDA margin of 7 per cent to 9 per cent. LuxExperience expects to generate significant value for our customers, brand partners, and shareholders going forward.”
Fibre2Fashion News Desk (SG)
Leave a Reply