German digital luxury group LuxExperience has reported the financial results of its legacy Mytheresa standalone business for the third quarter of fiscal 2025 (Q3 FY25), ending March 31. The company achieved net sales of €242.5 million (~$263.2 million), marking a 3.8% year-over-year (YoY) increase, while fiscal year-to-date (FYTD 25) sales rose by 8% YoY.
Gross merchandise value (GMV) also grew by 3.8% to €261.3 million (~$283.5 million), with the average order value increasing 8.8% to €753 on a last twelve months (LTM) basis. The gross profit margin improved by 140 basis points (bps) YoY to 44.8%. Adjusted EBITDA for the quarter stood at €9.3 million, with a 3.9% margin, while FYTD 25 adjusted EBITDA margin reached 4.3%. Additionally, the company reported a positive operating cash flow of €18.7 million for the quarter.
Key highlights of Q3 FY25 include an expanded partnership with luxury brand Prada, granting global distribution rights, including in the US. Mytheresa also hosted an immersive two-week Aspen Après-Ski event in collaboration with Bemelmans, successfully attracting new high-net-worth customers.
Furthermore, exclusive capsule collections and pre-launch collaborations were launched with luxury brands such as Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, and Tod’s.
On April 23, 2025, LuxExperience finalized its acquisition of Yoox Net-A-Porter from Richemont, gaining full control of Net-A-Porter, Mr Porter, Yoox, and The Outnet.
“The results of the third quarter demonstrate once again the strength of the Mytheresa business model. Solid GMV growth, higher top customer spends, continued product margin expansion and strong profitability show the health and resilience of the business despite macro headwinds,” said Michael Kliger, CEO of LuxExperience, formerly MYT Netherlands Parent BV.
“The strong results of the Mytheresa business model underline the fantastic prospects for the recently acquired Yoox Net-A-Porter business. We continue to demonstrate our ability to execute well and achieve strong results under macro uncertainties where other players fail. Combined we will create the leader in global digital, multi-brand luxury with strong profitability and growth. Our medium-term ambition is to reach around €4 billion in net sales per year and 7 per cent to 9 per cent in adjusted EBITDA margin,” added Kliger.
For the full fiscal year ending June 30, 2025, Mytheresa expects GMV and net sales growth to reach the lower end of its previously forecasted range of 7% to 13%, due to ongoing tariff uncertainties affecting customer sentiment. However, the company remains committed to its adjusted EBITDA margin guidance of 3% to 5%, reflecting its emphasis on sustained profitability.
The recently acquired Yoox Net-A-Porter is expected to contribute an additional €300–350 million in net sales for the year, albeit with an adjusted EBITDA loss of €20–30 million.
Looking ahead, LuxExperience is optimistic about the medium- to long-term potential of the combined business, reiterating its target of approximately €4 billion (~$4.34 billion) in annual net sales and an adjusted EBITDA margin of 7% to 9%.
