{"id":712992,"date":"2025-11-19T20:05:08","date_gmt":"2025-11-19T17:05:08","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=712992"},"modified":"2025-11-19T20:05:08","modified_gmt":"2025-11-19T17:05:08","slug":"luxexperience-sales-decline-4-as-ynap-turnaround-takes-shape","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=712992","title":{"rendered":"LuxExperience Sales Decline 4% as YNAP Turnaround Takes Shape"},"content":{"rendered":"
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Earnings<\/span><\/div>\n<\/div>\n

LuxExperience Sales Decline 4% as YNAP Turnaround Takes Shape<\/h1>\n
By <\/span>Maliha Shoaib<\/span><\/span><\/span><\/div>\n

November 19, 2025<\/p>\n

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    Photo: Courtesy of Mytheresa<\/span><\/div>\n<\/div>\n<\/div>\n<\/header>\n<\/div>\n
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    LuxExperience \u2014 the parent company of Mytheresa and Yoox Net-a-Porter \u2014 said net sales declined 4.2% to \u20ac557.2 million in the first quarter of fiscal 2026, ended September 30, 2025.<\/p>\n

    LuxExperience is in the process of turning around the businesses previously under Yoox Net-a-Porter (YNAP) Group, which LuxExperience (previously Mytheresa) acquired in April. LuxExperience expects gross merchandise value (GMV) to reach between \u20ac2.4 billion and \u20ac2.7 billion in fiscal 2026. Its prior forecast of between \u20ac2.5 and \u20ac2.9 billion included The Outnet, which it announced in October it is selling (the current guidance is just above this previous guidance, excluding The Outnet). Adjusted EBITDA is expected to land between -2% and 1% by the end of the fiscal year, compared to prior expectations of -4% to 1%.<\/p>\n

    \u201cFiscal 2026 will be our key transition year,\u201d CEO Michael Kliger said during a call with investors on Wednesday.<\/p>\n

    Gross profit margin increased 1.9% to 22.1% in the first quarter. Adjusted EBITDA was -\u20ac28.1 million for the quarter, with a margin of -5%.<\/p>\n

    Mytheresa\u2019s net sales were up 12.2% year-on-year to \u20ac216.6 million. \u201cMytheresa continues to demonstrate our unique ability to deliver strong growth and profitability, despite ongoing macro headwinds,\u201d said Kliger. Mytheresa has weathered the storms of the luxury downturn, with its curated brand mix and focus on top-spending customers. Kliger noted, however, that this quarter, growth was driven not just by the bigger spend of these clients, but also by the growth in top customer numbers.<\/p>\n

    LuxExperience reports Net-a-Porter and Mr Porter together. Sales declined 10.8% to \u20ac238.1 million. \u201cNet-a-Porter and Mr Porter clearly show the first signs of the commercial turnaround, which will drive unique growth and profitability after years of decline,\u201d Kliger said. LuxExperience expects Net-a-Porter and Mr Porter to break even on its adjusted EBITDA margin in fiscal 2027. Kliger\u2019s strategy is to focus on the customer, offering more engaging marketing, editorial content and online shopping experiences.<\/p>\n

    LuxExperience\u2019s transformation is \u201cwell on track\u201d, according to the company. Cost-reduction actions have started across all YNAP businesses. The sale of The Outnet to The O Group is expected to finalise in Q1 of the 2026 calendar year. Currently, LuxExperience is focusing its off-price resources on Yoox, which is a bigger business than The Outnet. Yoox\u2019s sales dropped 16.6% to \u20ac118.6 million in Q1. Kliger\u2019s turnaround strategy for Yoox is to tap into a younger audience using social media (especially TikTok) and improve brand marketing campaigns (the company recently hired a brand director, a newly created role).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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    LuxExperience continues to see traction in the US, where first-quarter sales accounted for 31.6% of the total business. \u201cThis is our fastest accelerating geography,\u201d Kliger said on the earnings call. LuxExperience has had to pay some additional duties to serve this market, for shipments that are no longer covered by the de minimis exemption and for products that are made in India or China. \u201cI would argue that this quarter was probably the worst one for tariffs, because subsequently, now with Switzerland and China there\u2019s promising news, and there are talks coming from the US and India,\u201d Kliger tells Vogue Business<\/em> following the call. \u201cThis was a quarter where we had to invest in some cases and take on the higher tariff rates. If my assumption is right that this was the worst, from now on it will look like even less of a problem.\u201d<\/p>\n

    Kliger is positive about the YNAP turnaround. \u201cEven if the situation still is a lot of work, [it\u2019s encouraging] once you see it\u2019s improving and there\u2019s momentum building,\u201d he continues. \u201cAnd we believe we will see continuous momentum building in the new year.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n

    Source URL: http:\/\/vogue.com\/article\/luxexperience-sales-decline-4-as-ynap-turnaround-takes-shape<\/p>\n","protected":false},"excerpt":{"rendered":"

    Earnings LuxExperience Sales Decline 4% as YNAP Turnaround Takes Shape By Maliha Shoaib November 19, 2025 Photo: Courtesy of Mytheresa LuxExperience \u2014 the parent company of Mytheresa and Yoox Net-a-Porter \u2014 said net sales declined 4.2% to \u20ac557.2 million in the first quarter of fiscal 2026, ended September 30, 2025. LuxExperience is in the process […]<\/p>\n","protected":false},"author":1,"featured_media":712993,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[50],"class_list":["post-712992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-vogue-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/712992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=712992"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/712992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/media\/712993"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=712992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=712992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=712992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}