Mytheresa powers LuxExperience with double-digit growth

LuxExperience has reported a strong start to fiscal 2026, with improvements across its portfolio, including Mytheresa, Net-A-Porter, Mr Porter, and YOOX. It saw standout growth at Mytheresa, which delivered double-digit gains in both sales and profitability for the first quarter of FY26, ending 30 September 2025.

The luxury digital group said Mytheresa achieved "outstanding" performance, with GMV up 13.5% and net sales rising 12.2% year on year to €226.3 million (£199.7 million). Adjusted EBITDA more than doubled to €7.9 million, lifting the margin to 3.5% from 1.4%.

CEO Michael Kliger said the business was pleased with the trajectory across the portfolio. "I am very pleased with the strong results and improvements across all three segments," he said. "Mytheresa continues to demonstrate our unique ability to deliver strong growth and profitability despite ongoing macro headwinds."

He added that Net-A-Porter and Mr Porter were beginning to show signs of revival following several years of decline. "Net-A-Porter and Mr Porter clearly show signs of the commercial turnaround that will drive renewed growth and profitability after years of decline," he said. Meanwhile, he noted that the off-price division was progressing as expected.

However, group-wide GMV dipped 4.3% to €589 million (£519.9 million), with net sales down 4.2% to €557.2 million (£491.8 million).

The company highlighted "strong" customer metrics, with average order value rising across every segment - up 10.7% at Mytheresa, 15.5% at NAP & MRP, and 18% at YOOX.

Mytheresa’s parent company, MYT Netherlands Parent, rebranded as LuxExperience in early 2025 following its €555 million acquisition of YNAP from Richemont. The move was designed to signal the creation of a new global luxury powerhouse spanning Mytheresa, Net-A-Porter, Mr Porter, YOOX and The Outnet.

As part of its efforts to transform YNAP and reduce costs, LuxExperience has agreed to sell the assets powering The Outnet to The O Group LLC for $30 million (£26.5 million), with the transaction expected to close in Q1 2026.

For FY26, the company now expects GMV of €2.4 billion (£2.1 billion) to €2.7 billion (£2.38 billion).

Kliger concluded: "LuxExperience is in the perfect position to benefit from the continued growth of digital luxury and the ongoing consolidation in the sector. We expect to become the one and only destination for luxury enthusiasts worldwide."