Latest news with #YooxNet-A-Porter
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)
Fashion Network
15-05-2025
- 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).
