What's Happening?
LuxExperience, the parent company of Mytheresa, Net-a-Porter, Mr Porter, and Yoox, has reported flat net sales growth at constant currency rates, amounting to €618.4 million in the third quarter of 2026. This marks the group's second profitable quarter since
its formation in April 2025, following Mytheresa's acquisition of Yoox Net-a-Porter (YNAP) Group. CEO Michael Kliger expressed satisfaction with the results, noting that the performance aligns with the company's expectations and long-term guidance. Adjusted EBITDA for the group was €5.7 million, with a margin of 0.9%. Mytheresa showed a revenue increase of 9.9% in Q3, while Net-a-Porter and Mr Porter saw a combined decline of 5.2%. Yoox revenues decreased by 7.4%, attributed to reduced exposure in overseas markets. The Middle East conflict impacted sales, but shifts to other locations like London and Los Angeles have been observed.
Why It's Important?
The financial performance of LuxExperience is significant as it reflects the company's strategic adjustments and resilience in a challenging market. The profitability indicates successful integration and management of the acquired YNAP Group, which had been unprofitable for years. The shift in sales from the Middle East to other regions highlights the adaptability of luxury brands to geopolitical changes. The increase in Mytheresa's U.S. revenues by 34% underscores the importance of the American market for luxury retailers. The focus on customer satisfaction, as evidenced by improved net promoter scores, suggests a strategic emphasis on enhancing customer experience to drive growth.
What's Next?
LuxExperience plans to continue focusing on customer engagement and satisfaction, with events playing a crucial role in this strategy. Upcoming events with Dolce & Gabbana in Sardinia and other locations aim to build communities and enhance customer interactions. The company will also focus on improving operational aspects such as shipping, communication, and product descriptions to further enhance customer experience. The recent sale of The Outnet's assets allows LuxExperience to concentrate on its core business operations, potentially leading to further strategic developments.
