This remarkable performance shows Mytheresa’s digital-first strategy and the rising importance of high-value customers in the luxury retail sector, even as the broader global market faces economic and operational headwinds. Mytheresa, now under LuxExperience B.V., capped 2025 with a standout year, reporting Q4 net sales growth of 12% and full-year growth of 9%, alongside a 73% jump in adjusted EBITDA.
Financial Performance and Profitability
For the fiscal fourth quarter ending June 2025, Mytheresa’s net sales jumped 11.5% year-over-year to €248.9 million, driving gross profit margin up 90 basis points to 48.3%. Adjusted EBITDA—the company’s preferred profitability measure—increased to €16.1 million for the quarter, with margins rising to 6.5% from 4.7% in the prior year. For the full fiscal year, Mytheresa posted net sales of €916.1 million (about $1.07 billion), an 8.9% increase. Gross profit margin for FY25 reached 47% (+130bps), and adjusted EBITDA surged to €44.6 million, up from €25.8 million in the previous year, delivering a profitability margin of 4.9%—well up from 3.1% in 2024.
Customer Engagement and Market Drivers
Customer economics have been particularly strong, with Mytheresa reporting a 13% increase in GMV (gross merchandise value) per customer and a 16.1% increase among its top spenders. The average order value for Q4 climbed 10% to €773, reflecting the company’s focus on higher-value, full-price business and exclusive luxury collaborations. The US market continues to be a key growth driver, now contributing 20.6% of Mytheresa’s net sales after growing 9.7% in FY25.
CEO Michael Kliger remarked, “We have demonstrated clear operational and financial leadership in digital luxury… we have the expertise and track record of achieving consistently profitable growth at LuxExperience”. Exclusive capsule collections and curated “money-can’t-buy” events with labels like Dolce & Gabbana, Versace, and Bottega Veneta have enhanced differentiation in a competitive sector.
Strategic Integration and Group Expansion
2025 was a year of transformation as Mytheresa finalized its integration into LuxExperience, combining forces with YOOX Net-a-Porter (YNAP). The reorganization included strategic streamlining, cost-cutting, and new tech migrations, positioning the group for anticipated medium-term sales of €4 billion and an EBITDA margin of 7%-9%. While YNAP’s other properties faced challenges—Net-A-Porter and Mr Porter saw GMV and sales decline—Mytheresa remained the group’s cash engine, driven by premium positioning, digital innovation, and loyal clientele.
Industry Context
In 2025, luxury e-commerce faced heightened macroeconomic volatility, shifting consumer sentiment, and supply chain adaptation. Mytheresa’s resilience, strategic investment in tech, elevated customer service, and growth in its core US market allowed it to outperform peers and capture market share.
LuxExperience projects medium-term net sales reaching €4 billion, betting on the continued convergence of online luxury shopping and experiential clienteling to keep growth robust in the years ahead.
Conclusion
With robust double-digit Q4 growth, a strengthened profit margin, and strong customer engagement, Mytheresa stands as a leading force in digital luxury. As LuxExperience continues to integrate its luxury platforms and invest in exclusive brand collaborations, market analysts expect Mytheresa to drive group profitability and set new benchmarks for online luxury retail.
