Mytheresa defies luxury market slump, reporting double-digit sales growth

Unlike its luxury e-commerce rivals, Mytheresa has weathered the storm, a storm otherwise known as the luxury sales slump. Today, the multi-brand digital platform published its financial results for the second quarter of fiscal year 2025, revealing sales were up by 13% to £185 million (€223 million).

For H1 of 2025, ending 31 December 2024, Mytheresa's sales were up by 10%. Meanwhile, GMV grew by 11.9% to £203.5 million (€244.7 million) in Q2 FY25 and its adjusted EBITDA totalled £12.5 million (€16.2 million).

According to the e-tailer, its strong results were boosted by ‘exclusive capsule collections’ and pre-launches in collaboration with Saint Laurent, Miu Miu, Moncler and more in addition to its continued expansion of its fine jewellery offering.

Michael Kliger, Chief Executive Officer of Mytheresa, said: "We are very pleased with our results in a still volatile macro environment. With strong, accelerating revenue growth of 13.4% and positive, significantly improved adjusted EBITDA margin of 7.3% in the second quarter, we continued our very positive business momentum from the previous quarters and have achieved a significant step up in financial performance in H1 of fiscal year 2025 compared to H1 of fiscal year 2024."

"We have reaffirmed our leadership position in terms of financial performance and reputation in digital luxury. Our clear focus on the high-spending, wardrobe-building top customers sets us apart and allows us to win market share and grow profitably. Strong Top Customer revenue growth, an outstanding average order value and excellent customer satisfaction scores demonstrate our relentless customer focus which is a key success factor for Mytheresa."

During the period, on 7 October 2024, the company signed an agreement to acquire YOOX Net-A-Porter Group. Mytheresa's parent company (MYT Netherlands Parent) announced will be renamed LuxExperience once it completes its planned acquisition of rival online luxury group Yoox Net-A-Porter (YNAP), which is expected to happen in the first half of this year.

Looking ahead, Mytheresa expects GMV and Net Sales growth in the range of 7% to 13% and Adjusted EBITDA margin in the range of 3% and 5%. It said, “Mytheresa does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements”.