Mytheresa, the luxury multibrand digital platform that is now part of the newly-formed LuxExperience group, posted another solid quarter marked by sales and profitability gains.

On Wednesday, Mytheresa reported that adjusted net income, which excludes legal and consulting costs related to the acquisition of Yoox Net-a-Porter and share-based compensation, rose to 5.4 million euros in the third quarter ended March 31. That’s up from the 3.8 million euros reported in the year-ago quarter.

Including the various costs, Mytheresa had a net loss of 5.5 million euros in Q3 versus 3.3 million euros in the year-ago quarter.

Net sales at the Munich-based Mytheresa grew 3.8 percent to 242.5 million euros in Q3 compared to 233.6 million euros in the year-ago quarter. Europe, with an 8 percent Q3 sales gain, was Mytheresa’s strongest region during the quarter.

“We feel it was a strong, solid quarter, given the current environment. Growth was good but we are used to more. Profitability remains strong,” Michael Kliger, chief executive officer and managing director of LuxExperience, told WWD. Kliger also still runs the Mytheresa business.

Like other fashion and luxury brands, Mytheresa and its parent LuxExperience are navigating fast-moving changes in the stock market, consumer spending patterns, and international trade policies. “The biggest challenge is this constant change,” Kliger said. “It’s difficult for both manufacturers and consumers. We would welcome some stability. Regardless of which way tariffs go, stability is what we need.”

He said Mytheresa has some exposure to China, where some European products sold by Mytheresa are made, but he added that compared to other sectors, such as toys, “We are not as heavily exposed.”

Best-selling categories last quarter at Mytheresa were resort/beachwear and fine jewelry. Among the best-selling designer brands were The Row, Alaia, Brunello Cucinelli and Dolce & Gabbana, the company indicated. Also, sales with Mytheresa’s top spending customers globally rose 17.9 percent, Kliger noted.

On April 23, LuxExperience (formerly Mytheresa) closed its deal to acquire Yoox Net-a-porter from Richemont, which provided LuxExperience with 555 million euros, no debt, and a 100 million euro credit facility for Yoox Net-a-porter, in exchange for 33 percent of Mytheresa shares.

LuxExperience will host a “strategic update” conference call at 8 a.m. EST Thursday to provide more details on the new group’s structure, its key strategic initiatives, financial details,
as well as management’s plans and direction moving forward.

Beginning in the fourth quarter of fiscal year 2025, LuxExperience will be reporting in three operating
segments: Mytheresa, Net-a-porter and Mr. Porter, and Yoox and The Outnet.

The fourth quarter of fiscal 2025 is expected to add another 300 million to 350 million euros in net sales and an adjusted EBITDA loss of 20 million to 30 million euros to the Mytheresa standalone business fiscal 2025 numbers, ending on June 30.

Last week, Mytheresa reshaped its leadership through a series of promotions that came in the aftermath of appointments made at LuxExperience. Simon Tweed was promoted to chief commercial officer, and Dominik Lass was promoted to chief growth and site management officer. Tweed succeeded Richard Johnson, who became chief business officer at LuxExperience, and Lass succeeded Gareth Locke, who became chief data and digital officer at LuxExperience. Also, Tiffany Hsu, who continues as chief buying officer leading the buying team and its strategies across all categories, took on the additional role of group fashion ventures officer of LuxExperience.

“We wanted to be very fast to bringing in the right new leadership,” Kliger said. At other levels, he added, “There will be more changes at the different brands.” LuxExperience, he said, is “absolutely unique as the largest, multifaceted luxury group in digital.”

Going forward, “We need to invest more on the front end,” meaning what the customer sees and experiences, “and save more on the back end,” Kliger said. Financially, “We are very well prepared. The house is clean and in order.”

In other Q3 results at Mytheresa, gross merchandise value (GMV) grew 3.8 percent in Q3 to 261.3 million euros, compared to 251.9 million euros in the prior year period.

The average order value increased by 8.8 percent to 753 euros in the last 12 months of fiscal year 2025 versus 692 euros during the same period of fiscal year 2024.

The company confirmed its full fiscal 2025 guidance at Mytheresa, but added that given the recent uncertainties over tariffs and their effects on customer sentiment, GMV and net sales are now projected to fall at the lower end of the forecasted range of 7 percent to 13 percent. Adjusted EBITDA margin is seen in the range of 3 percent and 5 percent.

”The results of the third quarter demonstrate once again the strength of the Mytheresa business model,” Kliger said in his prepared statement. “Solid GMV growth, higher top customer spend, continued product margin expansion and strong profitability show the health and resilience of the Mytheresa business despite macro headwinds.

“The strong results of the Mytheresa business model underline the fantastic prospects for the recently acquired Yoox Net-a-porter business,” Kliger said. “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 euros in net sales per year and 7 percent to 9 percent in adjusted EBITDA margin.”