Sales rose nearly 4 percent, driven by strength in Europe and demand from top-spending customers, while profitability improved ahead of a wider integration with Yoox Net-a-Porter.
Key Takeaways:
- Full-year sales projections have been narrowed to the lower end of guidance amid tariff uncertainty.
- Mytheresa posted Q3 net sales of €242.5 million, up 3.8% year-over-year.
- Adjusted net income rose to €5.4 million, excluding costs from the YNAP acquisition.
- Top-spending customer purchases rose nearly 18%, driven by interest in beachwear and fine jewelry.
- Europe led regional growth with an 8% sales increase.
- Gross merchandise value rose to €261.3 million, and average order value jumped to €753.
- Leadership reshuffle followed the formation of LuxExperience, which now includes Net-a-Porter, Mr Porter, Yoox, and The Outnet.
Mytheresa has reported solid financial results for the third quarter of fiscal 2025, showing growth in both sales and profitability as the company enters a new chapter under its recently rebranded parent group, LuxExperience.
For the period ending March 31, Mytheresa posted net sales of €242.5 million, a 3.8% increase over the same quarter last year. Adjusted net income rose to €5.4 million, up from €3.8 million, reflecting strength in retail performance and top-customer engagement. The company also reported a gross merchandise value (GMV) increase of 3.8%, reaching €261.3 million.
Europe led regional growth with an 8% increase, while global sales were bolstered by rising demand in resortwear and fine jewelry. Among the most sought-after labels were The Row, Alaïa, Brunello Cucinelli, and Dolce & Gabbana. Notably, purchases from the brand’s highest-spending clientele rose 17.9%.
CEO Michael Kliger described the quarter as “strong and solid,” noting the business had proven resilient amid shifting global conditions. “Profitability remains strong, but we’re accustomed to growing faster,” he said, adding that tariff volatility and broader market changes remain ongoing challenges.
The quarter follows Mytheresa’s formal acquisition of Yoox Net-a-Porter from Richemont in a €555 million deal, finalized under the newly named LuxExperience. Starting next quarter, financial results will be reported in three segments: Mytheresa, Net-a-Porter and Mr Porter, and Yoox and The Outnet.
Operational changes are also underway. Several internal promotions followed the deal, including Simon Tweed as chief commercial officer and Dominik Lass as chief growth and site management officer. Chief Buying Officer Tiffany Hsu added a group-wide title, becoming group fashion ventures officer for LuxExperience.
Looking ahead, the company expects full-year results to hit the lower end of its forecast range, reflecting caution amid macroeconomic headwinds. Guidance still sees net sales rising between 7% and 13% and adjusted EBITDA margins between 3% and 5%.
LuxExperience will hold a strategic update call to detail next steps as it seeks to build a €4 billion luxury e-commerce business with profitability targets between 7% and 9% in the medium term.