On May 14, German luxury e-commerce company Mytheresa announced its financial results for the third quarter of fiscal year 2025, ended March 31, revealing solid growth in both sales and profitability.
Headquartered in Munich, Germany, the company reported net sales of €242.5 million, a 3.8% increase compared to the same period last year. The average order value (AOV) also rose by 8.8%, reaching €753. Additionally, gross merchandise value (GMV) increased by 3.8%, from €251.9 million to €261.3 million, indicating higher spending per customer.
Among product categories, resort wear, beachwear, and fine jewelry performed particularly well. Top-selling designer brands included The Row, Alaïa, Brunello Cucinelli, and Dolce & Gabbana.
Spending by the company’s top-tier customers increased significantly, up 17.9% year-over-year, indicating the effectiveness of Mytheresa’s focus on high-value clientele and premium product strategy.
The company also reported an adjusted EBITDA of €9.3 million, representing a 3.9% margin, which was an improvement over the previous year. While the company posted a net loss of €5.5 million, compared to a €3.3 million loss in the same quarter last year, it emphasized stable profitability as a result of ongoing structural reforms and strategic investments.
Michael Kliger, CEO of Mytheresa, commented on the results, stating: “The results of the third quarter demonstrate once again the strength of the Mytheresa business model. 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.”
Although the results of the recent acquisition are not reflected in this quarter, Mytheresa completed the acquisition of Yoox Net-a-Porter (YOOX, NET-A-PORTER, MR PORTER, THE OUTNET) in April. These brands will be consolidated into the group’s financial reporting starting next quarter.
As a result, the newly formed LuxExperience group will restructure its business reporting into three segments starting in Q4 FY2025: the standalone “Luxury – Mytheresa” business, the combined “Luxury – NET-A-PORTER & MR PORTER”, and the “Off-Price – YOOX & THE OUTNET” segment focusing on discounted luxury.
The acquisition is expected to significantly expand the group’s revenue. In the fourth quarter alone, it is projected to contribute an additional €300 to €350 million in net sales, along with an adjusted EBITDA loss of €20 to €30 million.
Looking further ahead, the LuxExperience group has set an ambitious mid-to-long-term goal of reaching €4 billion in annual net sales and achieving an adjusted EBITDA margin of 7% to 9%, positioning itself as a leading force in digital, multi-brand luxury retail.
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