LuxExperience — the owner of Mytheresa, Net-a-Porter, Mr Porter, and Yoox — reported net sales of €653.6 million in the fourth quarter of 2026, which ended June 30, growing 7.6% at constant currency. This is the group’s third profitable quarter since it was formed in April 2025, after Mytheresa acquired Yoox Net-a-Porter (YNAP) Group, with an adjusted EBITDA of 2.1%. For fiscal 2026, the group’s net sales grew 3.2% to €2.47 billion, with EBITDA of €10.8 million — a major turnaround from the previous year’s €53 million loss.

“As you know, we bought Yoox Net-a-Porter, which at its worst lost €175 million,” Michael Kliger, group CEO of LuxExperience, tells Vogue Business. “So to already be profitable and growing at the group level, driven by a strong last quarter, we’re very pleased.”

For Net-a-Porter and Mr Porter, Q4 was the first time the two achieved both growth and profitability since the acquisition. Net sales rose 5.6% in the quarter to €273.9 million, driven by 15.1% growth in the US. For the full year, sales were up 0.5% to €994.8 million.

“We feel we’ve now turned around, and we forecast continued growth and profitability for the full fiscal 2027 across the luxury segment, which includes Net-a-Porter and Mr Porter,” Kliger says. Net-a-Porter and Mr Porter’s top customers — 4.3% of the segment in fiscal 2026 — accounted for 49% of the segment’s gross merchandise value (GMV), a measure of the total value of goods sold on customer-to-customer and e-commerce platforms. More than half of the segment’s business is in the US.

Across the board, LuxExperience credits cost discipline, customer engagement — Mytheresa’s net-promoter score (a measure of customer satisfaction) currently stands at 84 — and full-price engagement as key to its continued success.

Kliger also reports continued outperformance from the group’s leading retailer, Mytheresa, which grew 10.2% to €269.2 million in Q4, driven by the brand’s US market (up 39.3%). For the full year, Mytheresa reported 11.5% sales growth to €994.3 million, fueled by its focus on top-tier customers and full-price selling. For the full year, Mytheresa’s top customers made up just 4.8% of the segment’s shoppers but 48.4% of its GMV.

Most of the group’s business comes from these elite shoppers, and Kliger notes they tend to be more profitable because they spend more per order. “We have a business sitting on the shoulders of wardrobe-builders, big spenders, and luxury lifestyle customers,” says Kliger. “They want the winter boots in August.”

The most dramatic turnaround, however, is at Yoox, LuxExperience reports. The off-price retailer, which has typically been the group’s weakest link, grew 6.6% in Q4, reporting €110.5 million in net sales driven by Europe (excluding the UK). For the full year, it reported €485.1 million in net sales.

Yoox is still losing money: in the last quarter, EBITDA was negative €11.7 million, and negative €45.5 million for the full year. “But that’s almost half of what it lost before,” says Kliger, noting 2025’s €72.1 million loss. “We expect it will continue to grow in 2027, and that we will break even with the business.”

But how does the group’s focus on full-price selling fit with Yoox’s discount USP? “It’s not full-price selling, but first price,” Kliger responds. “We must sell at the very first price we put on the website — that’s the logic and the direction.”

In fact, Kliger is clear that each retailer within the LuxExperience group must keep its own personality: Net-a-Porter and Mr Porter as an editorial authority; Yoox aimed at discerning shoppers who care less about newness and more about affordability and style; and Mytheresa, for the more impatient, newness-focused big spender.

Each segment runs events to engage customers in a personalized way. For Mytheresa, that includes cruise experiences on the French Riviera;For Yoox, there were events during the Venice Biennale and Milan Design Week. Addressing the conflicts in the Middle East and Eastern Europe, Kliger explains that business continues regardless, noting that customers move to other cities or simply adjust to a new normal. “I mean, crazy as it sounds, there is a normal side to Kyiv and there is a normal side to Dubai. Life continues, and so [there was] a significant drop in the beginning, but business came back — sometimes outside the region, but also increasingly in the region,” he explains. “Country territories are not necessarily a reporting line [for LuxExperience]. We want to be everywhere.” For fiscal 2027, the group forecasts mid-single to high-single-digit growth, and an adjusted EBITDA margin of 2-3%. “Given what we see in the sector, most of the other players — be it brands or retailers — we are very pleased,” says Kliger.

Frequently Asked Questions
FAQs LuxExperience Bringing NetaPorter and Mr Porter Back to Growth

1 What is LuxExperience
LuxExperience is the company formed after Mytheresa acquired NetaPorter and Mr Porter from Richemont It runs these luxury fashion platforms under one group

2 What does it mean that NetaPorter and Mr Porter are back to growth
It means the two sites are selling more than before their revenue is increasing again after a period of decline

3 Why were NetaPorter and Mr Porter struggling before
They faced weak sales heavy discounting tough competition and the costs of running as part of Richemont where they didnt fit the core business

4 Who bought NetaPorter and Mr Porter
Mytheresa a German luxury ecommerce company bought them from Richemont The combined group is now called LuxExperience

5 When did this deal happen
The acquisition was announced in 2024 and completed in 2025

6 Whats the difference between NetaPorter Mr Porter and Mytheresa
NetaPorter sells luxury fashion for women Mr Porter sells luxury fashion for men Mytheresa sells luxury fashion for women men and kids All three are now part of LuxExperience

7 How do customers benefit from this change
They get a wider product range better technology and app experience and access to more brands across the combined platforms

8 Will NetaPorter and Mr Porter websites or apps change
Yes The plan is to move them onto Mytheresas technology platform which should mean faster smoother shopping

9 Will my account order history or saved details carry over
The brands continue to operate so accounts and order history should remain Any major changes would be communicated to customers directly

10 What does growth actually mean in business terms
It means key numbers are going up like sales revenue number of orders or active customers compared to the same period last year

11 How do we know theyre growing
LuxExperience has reported rising sales and improved performance for NetaPorter and Mr Porter in its financial updates

12 Is this growth profitable growth or just more sales
The goal is profitable growth more sales