LuxExperience Group, made up of Mytheresa, YOOX, Net-A-Porter and YOOX, has reported a return to adjusted EBITDA profitability and top-line growth in the second quarter of FY26. This marks a key milestone in its transformation strategy post-YOOX Net-A-Porter (YNAP) acquisition.
For the three months ended 31 December 2025, the digital luxury group delivered net sales growth of 1.1% on a reported basis, or up by 5.7% at constant currency, reaching €645.1 million (£561.4 million). Gross Merchandise Value (GMV) was up by 0.2% reported, or up by 4.7% at constant currency to €684.8 million (£596 million).
Most notably, the group returned to positive adjusted EBITDA of €13.2 million (£11.4 million), representing a margin of 2%, a significant improvement compared with previous quarters and a signal that its restructuring programme is beginning to yield results.
Chief Executive Officer, Michael Kliger, said: “We are extremely pleased with the results of the second quarter. The initiated turnaround at ex-YNAP already shows good results with growth and a return to adjusted EBITDA profitability at Group level.
“Our proven ability to deliver profitable growth at Mytheresa is now being applied to the newly acquired businesses.”
The performance confirms LuxExperience’s medium-term targets under its transformation plan of €4 billion (£3.48 billion) in net sales and an adjusted EBITDA margin between 7% and 9%.
Mytheresa once again led performance across the group, continuing to outpace the wider luxury market. The platform reported net sales up by 8.8% reported to €242.7 million (£211.1). GMV increased by 9.9% reported to €268.9 million (£234 million).
Neta-A-Porter and Mr Porter showed improvement following a challenging first quarter. Net sales were down by 1% reported, but up by 6% at constant currency to €277.1 million (£241.1 million) compared to 10.8% decline reported in Q1.
In the Off-Price YOOX division, net sales were down by 7.3% to €125.3 million (£109 million), marking an improvement from the 16.5% decline recorded in Q1.
LuxExperience also confirmed the planned sale of the assets powering The Outnet to The O Group for $30 million (£21.9 million) in cash, subject to inventory adjustments.
Looking ahead, LuxExperience narrowed its full-year guidance. The group now expects FY26 GMV between €2.5 billion and €2.7 billion (£2.18 billion and £2.35 billion). It forecasts an adjusted EBITDA margin between negative 1% and positive 1%.
Having completed the YNAP acquisition in April 2025, LuxExperience is positioning itself as a profitability-focused digital luxury group. As Kliger said: “As a Group we truly possess the secret sauce in digital luxury.”