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Metro
27-06-2025
- Business
- Metro
I run my own slow fashion business — I don't come from a family of entrepreneurs
Isabelle Pennington-Edmead, 28, runs her own ethical slow-fashion business with a collection also stocked online at ASOS. Orders from her website are made on demand to prevent wastage and aim to reflect childhood memories and femininity as well as inspiration drawn from her mixed Caribbean and British heritage. Here, she explains how she's made her journey from textiles-obsessed teen to successful entrepreneur, with the help of mentors and a lot of learning along the way. It is quite a cliché, but clothes design and running my own business has always been something I wanted to do. I've got sketchbooks from when I was younger where I designed what I wanted my brand to be, with logo designs and stuff. But I don't come from a family of entrepreneurs. Everyone in my family works in the public sector, like teachers, doctors or the NHS. That makes it hard. When you go to state school, you don't have the connections you might at other places, or the advice. So when I'm struggling with something, I might go to a family member and say, 'I don't know what to do about this', but they don't understand. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video I did textiles at school and then studied fashion design at university, and then did a master's in textiles for fashion. After my master's, I applied for a grad scheme with Yoox Net-A-Porter – a cooperation with the King's Foundation educational charity. I was working on creating a sustainable collection for their private label. I'm from Manchester, and when I finished at Yoox, I decided I wanted to move back to the north-west, but a lot of the clothes industry there was fast fashion. So I decided to just start my own brand, because I'd learned quite a lot about small-batch production. That's when I thought I could give it a go, starting my own slow-fashion label that reflects my mixed Caribbean, Kittitian, and British heritage. I'd say the challenge has been scaling. I've had to deal with things like Brexit. I didn't know about importing and exporting. That was a big hurdle – navigating the production and pricing and logistics, and having to negotiate with factories. I think it can be quite difficult, especially as a young woman, to make sure that you're getting the right prices and being taken seriously. ASOS was a big, brilliant experience. It started in March 24 and there was a lot to learn with scaling up to that size. Everything that's available to buy on ASOS from my brand is made in factories in the UK. I'm using a factory in London that's Drapers Award-winning, so I know it's a sustainable factory. I've also got orders being stocked in small boutiques, I've got an order going to Bermuda at the moment, and I've got other collections to pitch to other sources, hopefully. My next goal is to make the business even more sustainable. I don't think any fashion business can be 100 per cent sustainable, so it's just about trying your best and putting the effort in. A big goal for me would be to become a B Corp, which shows my business is meeting high standards. I met BBI CEO Darren Miller at a Windrush anniversary event. I got chatting to him and told him about my business, and he told me about the initiative. I really liked the look of what they were doing, because coming from a creative background I don't have any formal education in business. So even though I wanted to have a business, sometimes I felt an imposter syndrome around it, with not actually having formal education in it. Darren has put me in touch with some great people, such as Andrew Xeni from resposible fashion brand Nobody's Child. Having mentors has been a game-changer for me, so these connections have been so important. BBI was founded in 2023 and at the heart of the organisation is MBA30, an initiative that provides business training for Black entrepreneurs. They do so to help address the cultural and race-based barriers experienced by aspiring Black businesspeople. Between 2009-2019, just 0.24% of UK venture capital investment went to Black entrepreneurs, highlighting the systematic barriers Black businesses face when securing financing. Working with Metro, BBI hopes to train up 3,000 entrepreneurs by 2030, playing a key role in unlocking the £75 billion economic growth opportunity. Want to join the next MBA30 cohort - and have a chance to enter the MBA30 Emerging Entrepreneur Awards? Register your interest by emailing mba@ I'd say, define your brand and do the market research. That's very important – writing out a business plan and covering every aspect. Customers like it when there's a story behind the product, and they can really be involved in that. Also, try to stand your ground when you are negotiating. I sometimes deal with people on email a bit before first, just so they don't make assumptions when speaking on the phone – if they hear my age or that I'm a young woman. Just don't take the first answer. I think it's a given that they're going to expect you to go back with different prices or suggestions. So, if you just take the first offer, obviously they'll go with it, but I don't think they mind you suggesting cheaper pricing or negotiating. More Trending And when you have bad days, you just have to ride it. You're going to have them. And even though you can see on LinkedIn people's highlight reels, it's not like that every day for them either. When things are going well, make the most of it. I try and post a lot on social media. I try and hype up the brand. I don't have a massive marketing budget, so a lot of it is done myself. I try not to get complacent and take my foot off the accelerator. View More » Lunch. I'm not mad on buying breakfast out – I just think I could have made this myself, and now it's cost me £12 or something. Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Tired eyes? Users say this viral eye balm is a 'holy grail' for dark circles and puffiness MORE: Are selfies ruining museums? One reader thinks galleries should ban photography MORE: Bowling, burgers, fries and drinks: 10 unmissable Time Out deals Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Fashion Network
16-05-2025
- Business
- Fashion Network
LuxExperience says Mytheresa saw continuing sales growth in Q3
LuxExperience has reported Q3 results for its legacy Mytheresa business and said it saw a 'solid' net sales rise of almost 4% plus 'continued strong adjusted EBITDA profitability at a 4% margin'. Q3 of FY25 covers the three months to the end of March and the company said it saw the growth despite a tough market environment. Highlights included what it called an 'outstanding' Average Order Value, continued gross margin expansion, falling return rates, record-high NPS and 'strong profitability', although it remains loss-making on a reported net income basis. LuxExperience CEO Michael Kliger hailed 'the strength of the Mytheresa business model. Solid GMV growth, higher top customer spend, continued product margin expansion and strong profitability [that] show the health and resilience of the Mytheresa business despite macro headwinds'. He also said the numbers '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.' So let's dive into the details. Mytheresa saw a net sales increase of 3.8% year-on-year to €242.5 million, although in the year to date, net sales rose 8% so the latest quarter did see a slowdown. GMV growth was 3.8% to €261.3 million and Average Order Value increased by 8.8% to €753. The gross profit margin of 44.8% was an increase of 140 BPs year-on-year. Adjusted EBITDA of €9.3 million was up from €8.9 million a year ago and the adjusted EBITDA margin edged up to 3.9% from 3.8%, although again, this lagged the full year so far that was at 4.3%. Of course, we can't ignore the fact that the company remains loss-making with the loss this time being €5.5 million for the quarter, wider than the €3.3 million of Q3 a year earlier. And for the year to date the loss was €33.7 million, more than the €21.3 million loss of the previous year to date. But the company also said that adjusted net income this time was positive at €5.4 million compared to €3.8 million 12 months earlier and for the year to date the adjusted net profit figure was €21.4 million, much more than the €3.2 million of the previous ninemonth period. Adjusting items included major one-off costs linked to closing a distribution centre, professional fees and legal expenses. Returning to the highlights of the latest period, the company said it saw an expansion of its partnership with Prada to global distribution rights including the US; a successful two-week immersive Aspen Après-Ski experience in cooperation with Bemelmans in Aspen, with strong acquisition of new high-net-worth customers; the launch of exclusive capsule collections and pre-launches in collaboration with Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, Tod's and many more; impactful Top Customer events around the globe and 'money-can't buy' experiences in partnership with luxury brands; and 'outstanding customer satisfaction" with a Net Promoter Score of 86% in Q3 FY25. But the company still clearly faces challenges. As mentioned, it remains loss-making on a reported basis and also said that 'given the recent uncertainties on tariffs and their effects on customer sentiment', it's cautious on sales and GMV expectations. 'We now expect for GMV and net sales growth the lower end of our given guidance of 7% to 13% for the full fiscal year ending June 30 2025 for the legacy Mytheresa standalone business,' it said. But it added: 'Given our continuous focus on profitability we confirm our guidance for adjusted EBITDA margin in the range of 3% and 5%'. As for YNAP, its completed acquisition in Q4 is expected to add another €300 million-€350 million net sales and an adjusted EBITDA loss of between €20 million and €30 million added to the legacy Mytheresa standalone business's FY25 numbers. But it's 'very excited for the medium- and long-term outlook of the combined business. With our proven ability to execute and to show strong results we confirm our medium-term outlook for the combined business' to achieve around €4 billion net sales per year and an adjusted EBITDA margin of 7%-9%. Starting with the Q4 results, the company will be reporting in three operating segments: Luxury - Mytheresa (that is, the legacy Mytheresa standalone business); Luxury – NAP & MRP (Net-A-Porter and Mr Porter); and Off-Price (the Yoox and The Outnet businesses).
Fashion Network
15-05-2025
- Business
- Fashion Network
LuxExperience says Mytheresa saw continuing sales growth in Q3
LuxExperience CEO Michael Kliger hailed 'the strength of the Mytheresa business model. Solid GMV growth, higher top customer spend, continued product margin expansion and strong profitability [that] show the health and resilience of the Mytheresa business despite macro headwinds'. He also said the numbers '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.' So let's dive into the details. Mytheresa saw a net sales increase of 3.8% year-on-year to €242.5 million, although in the year to date, net sales rose 8% so the latest quarter did see a slowdown. GMV growth was 3.8% to €261.3 million and Average Order Value increased by 8.8% to €753. The gross profit margin of 44.8% was an increase of 140 BPs year-on-year. Adjusted EBITDA of €9.3 million was up from €8.9 million a year ago and the adjusted EBITDA margin edged up to 3.9% from 3.8%, although again, this lagged the full year so far that was at 4.3%. Of course, we can't ignore the fact that the company remains loss-making with the loss this time being €5.5 million for the quarter, wider than the €3.3 million of Q3 a year earlier. And for the year to date the loss was €33.7 million, more than the €21.3 million loss of the previous year to date. But the company also said that adjusted net income this time was positive at €5.4 million compared to €3.8 million 12 months earlier and for the year to date the adjusted net profit figure was €21.4 million, much more than the €3.2 million of the previous ninemonth period. Adjusting items included major one-off costs linked to closing a distribution centre, professional fees and legal expenses. Returning to the highlights of the latest period, the company said it saw an expansion of its partnership with Prada to global distribution rights including the US; a successful two-week immersive Aspen Après-Ski experience in cooperation with Bemelmans in Aspen, with strong acquisition of new high-net-worth customers; the launch of exclusive capsule collections and pre-launches in collaboration with Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, Tod's and many more; impactful Top Customer events around the globe and 'money-can't buy' experiences in partnership with luxury brands; and 'outstanding customer satisfaction" with a Net Promoter Score of 86% in Q3 FY25. But the company still clearly faces challenges. As mentioned, it remains loss-making on a reported basis and also said that 'given the recent uncertainties on tariffs and their effects on customer sentiment', it's cautious on sales and GMV expectations. 'We now expect for GMV and net sales growth the lower end of our given guidance of 7% to 13% for the full fiscal year ending June 30 2025 for the legacy Mytheresa standalone business,' it said. But it added: 'Given our continuous focus on profitability we confirm our guidance for adjusted EBITDA margin in the range of 3% and 5%'. As for YNAP, its completed acquisition in Q4 is expected to add another €300 million-€350 million net sales and an adjusted EBITDA loss of between €20 million and €30 million added to the legacy Mytheresa standalone business's FY25 numbers. But it's 'very excited for the medium- and long-term outlook of the combined business. With our proven ability to execute and to show strong results we confirm our medium-term outlook for the combined business' to achieve around €4 billion net sales per year and an adjusted EBITDA margin of 7%-9%. Starting with the Q4 results, the company will be reporting in three operating segments: Luxury - Mytheresa (that is, the legacy Mytheresa standalone business); Luxury – NAP & MRP (Net-A-Porter and Mr Porter); and Off-Price (the Yoox and The Outnet businesses).
Fashion Network
15-05-2025
- Business
- Fashion Network
LuxExperience says Mytheresa saw continuing sales growth in Q3
LuxExperience CEO Michael Kliger hailed 'the strength of the Mytheresa business model. Solid GMV growth, higher top customer spend, continued product margin expansion and strong profitability [that] show the health and resilience of the Mytheresa business despite macro headwinds'. He also said the numbers '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.' So let's dive into the details. Mytheresa saw a net sales increase of 3.8% year-on-year to €242.5 million, although in the year to date, net sales rose 8% so the latest quarter did see a slowdown. GMV growth was 3.8% to €261.3 million and Average Order Value increased by 8.8% to €753. The gross profit margin of 44.8% was an increase of 140 BPs year-on-year. Adjusted EBITDA of €9.3 million was up from €8.9 million a year ago and the adjusted EBITDA margin edged up to 3.9% from 3.8%, although again, this lagged the full year so far that was at 4.3%. Of course, we can't ignore the fact that the company remains loss-making with the loss this time being €5.5 million for the quarter, wider than the €3.3 million of Q3 a year earlier. And for the year to date the loss was €33.7 million, more than the €21.3 million loss of the previous year to date. But the company also said that adjusted net income this time was positive at €5.4 million compared to €3.8 million 12 months earlier and for the year to date the adjusted net profit figure was €21.4 million, much more than the €3.2 million of the previous ninemonth period. Adjusting items included major one-off costs linked to closing a distribution centre, professional fees and legal expenses. Returning to the highlights of the latest period, the company said it saw an expansion of its partnership with Prada to global distribution rights including the US; a successful two-week immersive Aspen Après-Ski experience in cooperation with Bemelmans in Aspen, with strong acquisition of new high-net-worth customers; the launch of exclusive capsule collections and pre-launches in collaboration with Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, Tod's and many more; impactful Top Customer events around the globe and 'money-can't buy' experiences in partnership with luxury brands; and 'outstanding customer satisfaction" with a Net Promoter Score of 86% in Q3 FY25. But the company still clearly faces challenges. As mentioned, it remains loss-making on a reported basis and also said that 'given the recent uncertainties on tariffs and their effects on customer sentiment', it's cautious on sales and GMV expectations. 'We now expect for GMV and net sales growth the lower end of our given guidance of 7% to 13% for the full fiscal year ending June 30 2025 for the legacy Mytheresa standalone business,' it said. But it added: 'Given our continuous focus on profitability we confirm our guidance for adjusted EBITDA margin in the range of 3% and 5%'. As for YNAP, its completed acquisition in Q4 is expected to add another €300 million-€350 million net sales and an adjusted EBITDA loss of between €20 million and €30 million added to the legacy Mytheresa standalone business's FY25 numbers. But it's 'very excited for the medium- and long-term outlook of the combined business. With our proven ability to execute and to show strong results we confirm our medium-term outlook for the combined business' to achieve around €4 billion net sales per year and an adjusted EBITDA margin of 7%-9%. Starting with the Q4 results, the company will be reporting in three operating segments: Luxury - Mytheresa (that is, the legacy Mytheresa standalone business); Luxury – NAP & MRP (Net-A-Porter and Mr Porter); and Off-Price (the Yoox and The Outnet businesses).
Fibre2Fashion
15-05-2025
- Business
- Fibre2Fashion
Germany's Mytheresa expects $4.3 bn net sales in FY25 after solid Q3
German digital luxury group LuxExperience has announced the financial results of its legacy Mytheresa standalone business, reporting net sales of €242.5 million (~$263.2 million) in the third quarter of fiscal 2025 (Q3 FY25) ended March 31, an increase of 3.8 per cent year-over-year (YoY). The fiscal to date (FYTD 25) sales rose 8 per cent YoY. The gross merchandise value (GMV) also grew 3.8 per cent to €261.3 million (~$283.5 million). The average order value rose by 8.8 per cent to €753 on a last twelve months (LTM) basis. Mytheresa achieved a gross profit margin of 44.8 per cent, a 140-basis point (bps) improvement YoY. The adjusted EBITDA stood at €9.3 million, with a margin of 3.9 per cent, and FYTD 25 adjusted EBITDA margin reached 4.3 per cent. The quarter also delivered a positive operating cash flow of €18.7 million. Key business highlights for Q3 FY25 include the expansion of the partnership with another luxury brand Prada to cover global distribution rights, including the US. The company hosted a successful two-week immersive Aspen Apres-Ski experience in collaboration with Bemelmans, attracting a significant number of new high-net-worth customers, Mytheresa said in a press release. Mytheresa's net sales reached €242.5 million (~$263.2 million) in Q3 FY25, up 3.8 per cent YoY, with GMV reaching €261.3 million. The company saw strong margins and positive cash flow. It completed the acquisition of Yoox Net-A-Porter in April. Despite tariff-related uncertainties, it maintains profitability guidance and aims for €4 billion (~$4.34 billion) in net sales for full fiscal. It also launched exclusive capsule collections and pre-launch collaborations with leading luxury brands such as Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, and Tod's. On April 23, 2025, LuxExperience completed the acquisition of Yoox Net-A-Porter from Richemont, gaining full ownership of Net-A-Porter, Mr Porter, Yoox, and The Outnet, added the release. '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, chief executive officer (CEO) at 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,' continued Kliger. For full FY25 ending June 30, 2025, Mytheresa is now anticipating GMV and net sales growth at the lower end of its earlier forecast range of 7 to 13 per cent due to ongoing tariff uncertainties and their impact on customer sentiment. Despite this, the company reaffirmed its adjusted EBITDA margin guidance of 3 to 5 per cent, reflecting its continued focus on profitability. The acquisition of Yoox Net-A-Porter is projected to contribute €300–350 million in additional net sales and an adjusted EBITDA loss of €20–30 million to the legacy Mytheresa results for the year. Looking ahead, the company remains confident in the medium-to long-term outlook for the combined entity, reiterating its target of approximately €4 billion (~$4.34 billion) in annual net sales and an adjusted EBITDA margin of 7 to 9 per cent. Fibre2Fashion News Desk (SG)
