LuxExperience Group: Q2 Sales Up, Returns to Profitability with Mytheresa Boost

LuxExperience Group reported a return to net sales growth in its second quarter, with a 1.1% increase, and restored Adjusted EBITDA profitability, signaling progress in its ongoing transformation plan. The results mark the first top-line sales growth for the luxury e-commerce group since acquiring Yoox Net-a-Porter (YNAP). Net sales reached €828.8 million for the quarter, with a more substantial 5.7% increase when excluding currency effects. Gross Merchandise Volume (GMV) also saw a modest rise, increasing by 0.2% overall and 4.7% ex-FX. The performance was driven largely by Mytheresa, which demonstrated continued strength. Mytheresa experienced a 12.2% increase in net sales compared to the same period last year, accompanied by a 13.5% growth in GMV. Customer economics also improved across the group, with Mytheresa seeing a 15% increase in GMV per top customer. Average Order Value (AOV) also rose across all segments, reaching €797 for Mytheresa, a 10.7% increase. LuxExperience’s transformation plan, initiated following the YNAP acquisition, is focused on cost reduction and streamlining operations. The company has signed an agreement for the sale of assets powering THE OUTNET, expected to close in the first quarter of calendar year 2026. The group reported a cash flow of €118 million. While the overall LuxExperience Group experienced a moderate 4.3% decline in GMV and 4.2% in net sales on an illustrative basis, the return to Adjusted EBITDA profitability indicates a positive shift in financial performance. The Adjusted EBITDA margin for the group was -5.0% for the quarter. The US market remains a key focus for LuxExperience, accounting for 31.6% of total net sales in the first quarter of fiscal year 2026. The company continues to integrate YNAP, aiming to leverage its scale for future growth.