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olivLaw · US equity research

LuxExperience B.V. LUXE

Retail-Catalog & Mail-Order Houses · SIC 5961 · Vertical: Retail-Catalog & Mail-Order Houses (SIC 5961)

10.05USD+0.40% · 1 dayClose 04 Nov 2026

LuxExperience B.V. is a global multi-brand luxury digital group selling apparel, footwear, bags and jewelry through Mytheresa, NET-A-PORTER, MR PORTER and YOOX. The company is integrating the YNAP acquisition completed in April 2025 and is trying to turn around loss-making acquired segments in a consolidating online luxury market. Consolidated net sales for fiscal 2026 were €2,502.7 million.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, LuxExperience B.V. (LUXE) stock was 10.05 USD (+0.40% on the day), with beta 1.31, 52-week range 6.86–10.51 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
unavailable
shares as of 30 Jun 2026
P/E (TTM)
unavailable
Diluted EPS TTM 5.65 · TTM to 30 Jun 2025
E/P (TTM)
unavailable
TTM to 30 Jun 2025
Dividend yield
unavailable
Beta (2y)
1.31
Volatility (1y) 53%
52-week range
6.8610.51

Price history

Loading chart…

Technical reading

RSI (14)
61.5
strong (55–70)
Bollinger (20, 2)
8.88 – 10.38
in the upper half of the band · %B 0.78 · band width 15.6%
SMA 50 / 200
9.03 / 8.41
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
0.16 / 0.13
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+3.1%−1.1%+4.2 pp—
3 months+18.2%−0.5%+18.7 pp—
6 months+10.4%+4.4%+6.0 pp—
Year to date+20.4%+12.3%+8.0 pp—
1 year+6.6%+13.5%−7.0 pp−2.6%
3 years+209.2%+76.4%+132.8 pp+12.3%
5 years−64.2%+63.7%−127.8 pp—
Max drawdown (1y)
−34.7%
13 Feb 2026 → 27 May 2026
Max drawdown (5y)
−93.3%
12 Nov 2021 → 14 Nov 2023
Compound annual growth (5y)
−18.6%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

the price (USD) and the reports are in different currencies

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year2019202020212022202320242025
Revenue379.1 m449.5 m612.1 m687.8 m766.0 m840.9 m1.3 bn
Revenue YoYunavailable+18.6%+36.2%+12.4%+11.4%+9.8%+50.1%
Net income1.7 m6.4 m-32.6 m-9.3 m-17.0 m-24.9 m570.0 m
Net income YoYunavailable+284.6%−613.4%unavailableunavailableunavailableunavailable
Diluted EPS0.020.09-0.42-0.11-0.20-0.295.65
Diluted EPS YoYunavailable+350.0%−566.7%unavailableunavailableunavailableunavailable
net %0.4%1.4%-5.3%-1.4%-2.2%-3.0%45.2%
Free cash flowunavailableunavailableunavailableunavailableunavailableunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 30 Jun 2025

Cash
603.6 m EUR
Financial debt
10.0 m EUR
Net debt
-593.6 m EUR
Equity
1.4 bn EUR
Total assets
2.3 bn EUR
Debt / equity
0.01x
Current ratio
2.52x
ROE
63.3%
ROA
38.3%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (EUR)

Margins

Income statement · EUR

Revenue
2023
766.0 m
2024
840.9 m
2025
1.3 bn

SEC (XBRL)· 30 Oct 2025verified

Gross profit
2023
380.0 m
2024
384.5 m
2025
603.3 m

SEC (XBRL)· 30 Oct 2025verified

Operating income
2023
-8.7 m
2024
-22.0 m
2025
578.6 m

SEC (XBRL)· 30 Oct 2025verified

Depreciation & amortisation
2023
11.7 m
2024
15.2 m
2025
25.4 m

SEC (XBRL)· 30 Oct 2025verified

EBITDA
2023
3.0 m ≈
2024
-6.7 m ≈
2025
604.0 m ≈

SEC (XBRL)· 30 Oct 2025derived

Interest expense
2023
2.8 m
2024
4.8 m
2025
7.3 m

SEC (XBRL)· 30 Oct 2025verified

Pre-tax income
2023
-11.1 m
2024
-26.7 m
2025
573.5 m

SEC (XBRL)· 30 Oct 2025verified

Income tax
2023
5.9 m
2024
-1.8 m
2025
3.6 m

SEC (XBRL)· 30 Oct 2025verified

Net income
2023
-17.0 m
2024
-24.9 m
2025
570.0 m

SEC (XBRL)· 30 Oct 2025verified

Diluted EPS
2023
-0.20
2024
-0.29
2025
5.65

SEC (XBRL)· 30 Oct 2025verified

Weighted average diluted shares
2023
86.6 m
2024
86.8 m
2025
100.9 m

SEC (XBRL)· 30 Oct 2025verified

Balance sheet · EUR

Cash
2023
30.1 m
2024
15.1 m
2025
603.6 m

SEC (XBRL)· 30 Oct 2025verified

Receivables
2023
7.5 m
2024
11.8 m
2025
96.7 m

SEC (XBRL)· 30 Oct 2025verified

Inventories
2023
360.3 m
2024
370.6 m
2025
1.0 bn

SEC (XBRL)· 30 Oct 2025verified

Current assets
2023
440.0 m
2024
442.9 m
2025
1.9 bn

SEC (XBRL)· 30 Oct 2025verified

Property, plant & equipment, net
2023
37.2 m
2024
43.7 m
2025
55.9 m

SEC (XBRL)· 30 Oct 2025verified

Goodwill
2023
138.9 m
2024
138.9 m
2025
138.9 m

SEC (XBRL)· 30 Oct 2025verified

Total assets
2023
694.0 m
2024
696.5 m
2025
2.3 bn

SEC (XBRL)· 30 Oct 2025verified

Accounts payable
2023
71.1 m
2024
85.3 m
2025
285.7 m

SEC (XBRL)· 30 Oct 2025verified

Short-term debt
2023
—
2024
—
2025
10.0 m

SEC (XBRL)· 30 Oct 2025verified

Long-term debt
2023
—
2024
—
2025
—

SEC (XBRL)· 15 Oct 2021verified

Current liabilities
2023
198.1 m
2024
217.6 m
2025
735.6 m

SEC (XBRL)· 30 Oct 2025verified

Total liabilities
2023
250.5 m
2024
260.9 m
2025
917.1 m

SEC (XBRL)· 30 Oct 2025verified

Equity
2023
443.4 m
2024
435.6 m
2025
1.4 bn

SEC (XBRL)· 30 Oct 2025verified

Shares outstanding at year end
2023
84.9 m
2024
85.3 m
2025
137.3 m

SEC (XBRL)· 30 Oct 2025verified

Cash flow · EUR

Operating cash flow
2023
-55.1 m
2024
10.0 m
2025
-30.5 m

SEC (XBRL)· 30 Oct 2025verified

Investing cash flow
2023
-22.8 m
2024
-11.8 m
2025
617.5 m

SEC (XBRL)· 30 Oct 2025verified

Financing cash flow
2023
-5.4 m
2024
-13.3 m
2025
89.0 k

SEC (XBRL)· 30 Oct 2025verified

Computed indicators

Growth

Revenue growth (YoY)
50.1%
computed by olivLawFY 2025
Revenue CAGR 3Y
22.4%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
22.9%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
145.8%
computed by olivLawFY 2020 → FY 2025
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
128.9%
computed by olivLawFY 2020 → FY 2025
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
47.8%
computed by olivLawFY 2025
EBITDA margin
47.8%
computed by olivLawFY 2025
EBIT margin
45.8%
computed by olivLawFY 2025
Net margin
45.2%
computed by olivLawFY 2025
FCF margin
unavailable
input data missing

Returns

ROE
63.3%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROA
38.3%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROIC
74.6%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
ROCE
37.4%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-593.6 m EUR
computed by olivLawbalance sheet at 30 Jun 2025
Net debt / EBITDA
-1.0x
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Debt / equity
0.0x
computed by olivLawbalance sheet at 30 Jun 2025
Interest coverage
79.5x
computed by olivLawFY 2025

Liquidity

Current ratio
2.5x
computed by olivLawbalance sheet at 30 Jun 2025
Quick ratio
1.1x
computed by olivLawbalance sheet at 30 Jun 2025
Cash ratio
0.8x
computed by olivLawbalance sheet at 30 Jun 2025

Cash

Operating cash flow
-30.5 m EUR
computed by olivLawFY 2025
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
-5.1%
computed by olivLawFY 2025

Efficiency

Days sales outstanding
16 days
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
input data missing
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 45.8% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

10.05 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: unavailable

Price and reporting are in different currencies; market indicators are unavailable.

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
63.3%
computed by olivLawFY 2025 · balance sheet at 30 Jun 2025
Net margin
45.2%
computed by olivLawFY 2025
Revenue growth (YoY)
50.1%
computed by olivLawFY 2025
Dividend yield
unavailable
input data missing

Coverage and freshness

28/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2025
Latest balance sheet date: 30 Jun 2025
Share count (cover of the latest filing), as of: 30 Jun 2026
Source: SEC (XBRL)published 16 Sept 2026
verified 180

The data is older than the freshness threshold.

Score by group

46% · Insufficient data

Estimated value range

Low
80.01
EUR per share
Mid
94.88
EUR per share
High
116.41
EUR per share
Price: unavailable
Potential to the central value: unavailable (value / price − 1)
Margin of safety: unavailable (1 − price / value)
Agreement between methods: low · 2 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 57.23 – 158.81 EUR.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (EUR per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDA57.23 – 74.01 (Mid 67.47)
    4 companies used · median multiple 14.6x · quartiles 12.3x – 16.1x
    AMZN, BZUN, CDW, NSIT
  • Peers: P/E102.78 – 158.81 (Mid 122.30)
    8 companies used · median multiple 21.6x · quartiles 18.2x – 28.1x
    AMZN, CDW, CHWY, GCT, HOUR, NSIT, RVLV, VIPS
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Multiple comparisons use the SIC vertical: Retail-Catalog & Mail-Order Houses (SIC 5961)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 45.8% of at least 60%

FactorValueScoreWeight used
ROIC · Quality74.6%100 (vs peers)23%
Net margin · Quality45.2%100 (vs peers)14%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth22.4%100 (on a fixed band)18%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheet-1.0x75 (vs peers)23%
Interest coverage · Balance sheet79.5x100 (on a fixed band)14%
Current ratio · Balance sheet2.5x100 (on a fixed band)9%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet88/100 · 3/3 factors with a value
  • Growth· partial100/100 · 1/2 factors with a value
  • Quality100/100 · 2/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

LuxExperience B.V. (LUXE). Latest full fiscal year: 2025; data up to 2025-06-30.

Figures computed from the financial statements: revenue 1.3 bn EUR in 2025; YoY growth 50.1%; net margin 45.2%; ROE 63.3%; net debt/EBITDA -1.0x.

The estimated value range is 80.01–116.41 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (score weight coverage: 45.8% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • ROIC: 74.6%
  • Net margin: 45.2%
  • Revenue CAGR 3Y: 22.4%
  • Net debt / EBITDA: -1.0x
  • Interest coverage: 79.5x
  • Current ratio: 2.5x

What contradicts it

  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Retail-Catalog & Mail-Order Houses (SIC 5961) · same industry (4-digit SIC) · compared with 28 companies

Multiples and returns vs the median

P/E
—
vertical median 21.8x
EV/EBITDA
—
vertical median 11.3x
P/S
—
vertical median 0.4x
P/B
—
vertical median 1.9x
ROE
63.3%
vertical median -6.3%
above median
Net margin
45.2%
vertical median -1.1%
above median
EBIT margin
45.8%
vertical median 0.5%
above median (+8,379.7%)
Revenue YoY
50.1%
vertical median 5.7%
above median (+782.8%)
Net debt/EBITDA
-1.0x
vertical median 0.3x
below median (−427.7%)
Dividend yield
—
vertical median 1.5%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AMZNAmazon.com, Inc.2,876.6 bn21.527.4%16.9%+12.4%+14% / +82%
CDWCdw Corp21.1 bn19.742.5%4.5%+6.8%+17% / −20%
NSITInsight Enterprises, Inc.5.2 bn25.713.1%2.5%−5.2%+103% / +16%
JMIAJumia Technologies AG1.3 bn—-108.9%-32.6%+12.8%−57% / +60%
BZUNBaozun Inc.597.0 m—-6.6%-2.4%+10.2%+21% / +16%
LITBLightInTheBox Holding Co., Ltd.590.4 m68.0—3.7%−12.1%+42% / −63%
GCTGigacloud Technology Inc539.8 m13.732.3%10.6%+11.1%+56% / +495%
HNSTThe Honest Company, Inc.476.3 m—-6.9%-3.6%−1.9%+65% / +86%
TDUPThredUp Inc.290.9 m—-39.2%-6.9%+19.5%−71% / +12%
DIBS1stdibs.com, Inc.186.9 m—-9.2%-8.5%+1.5%−3% / +30%
NXHNeighborhood Intelligence, Inc.163.0 m—-47.0%-7.1%−25.1%−72% / −91%
AKAa.k.a. Brands Holding Corp.116.0 m—-29.5%-4.8%+4.4%−26% / +9%
SFIXStitch Fix, Inc.79.5 m—-6.3%-0.9%+6.4%−31% / −21%
HOURHour Loop, Inc.53.9 m37.021.8%1.1%+3.0%−28% / +3%
GROVGrove Collaborative Holdings, Inc.47.4 m——-4.1%−14.6%−19% / −44%
LVLULulu’s Fashion Lounge Holdings, Inc.31.0 m—-602.9%-3.2%−10.6%+107% / −74%
UZXLinkage Global Inc21.7 m—-63.1%-144.5%−50.5%−98% / unavailable
GIFTGiftify, Inc.21.1 m—-36.2%-8.8%−6.5%−47% / −85%
CHWYChewy, Inc.2.3 k35.372.0%2.1%+6.2%−33% / +34%
QVCGQVC Group, Inc.8—-6.3%-0.2%−7.8%unavailable / unavailable
PTRNPattern Group Inc.——6.6%0.9%+39.3%+22% / unavailable
HEPSD-MARKET Electronic Services & Trading——-39.7%-2.8%+11.1%+19% / +100%
LUXELuxExperience B.V.——63.3%45.2%+50.1%+7% / +209%
VIPSVipshop Holdings Limited—1.418.3%6.8%+2.0%−30% / −14%
WWayfair Inc.———-1.2%+5.1%+12% / +121%

1- and 3-year price returns: for LUXE from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 16 Sept 2026; since then the company filed 6-K (25 Sept 2026).

In brief

LuxExperience B.V. is a global multi-brand luxury digital group selling apparel, footwear, bags and jewelry through Mytheresa, NET-A-PORTER, MR PORTER and YOOX. The company is integrating the YNAP acquisition completed in April 2025 and is trying to turn around loss-making acquired segments in a consolidating online luxury market. Consolidated net sales for fiscal 2026 were €2,502.7 million 1.

SWOT

Strengths

  • The group has complementary segments with distinct customer bases and long-standing relationships with leading luxury houses 1.
  • The Mytheresa segment shows rising gross margin and positive segment EBITDA, giving a solid financial base 1.
  • Top Customer programs and exclusive collections support loyalty and high average order values 1.

Weaknesses

  • The NAP & MRP segment reported negative segment EBITDA in fiscal 2026 and a lower number of active customers 1.
  • The YOOX segment posted losses and fewer orders, pointing to pressure on the off-price model 1.
  • Consolidated results are not directly comparable because of the YNAP acquisition and the discontinued treatment of THE OUTNET 1.

Opportunities

  • Migration to the proprietary technology platform and ERP integration could bring efficiency gains over time 1.
  • The online luxury market has growth potential, and the group could gain share from competitors in difficulty 1.
  • A joint data analytics layer could support more personalized offers and higher customer value 1.

Threats

  • Intense competition and discounting by rivals could reduce margins and strain brand partner relationships 1.
  • Changes in digital platform policies could raise the cost of acquiring customers 1.
  • Weaker demand from economically sensitive customers or damaged reputation could reduce sales 1.

Risks

  • Competition in online luxuryhigh

    Rivals with larger resources or new technologies could draw customers and brand partners away and reduce revenue 1.

  • Shifting customer preferencesmedium

    If fashion trends and preferences change quickly, inventory could be left unsold and margins could decline 1.

  • Dependence on digital advertisingmedium

    Changes to platform algorithms could reduce traffic and raise the cost of acquiring customers 1.

  • Brand reputationmedium

    Public complaints or data security incidents could weaken trust among customers and brand partners 1.

  • Acquisition integrationmedium

    Integrating YNAP and migrating technology could delay synergies and disrupt operations 1.

Investment thesis

What would need to be true (bull case)

  • The Mytheresa segment grew and improved its margin, which could suggest the full-price luxury strategy is working 1.
  • If the transformation plan delivers the promised savings, the group could reduce losses in the acquired segments 1.
  • Growth in affluent clientele and the online luxury market could support demand over the longer term 1.

What would break the thesis

  • The NAP & MRP and YOOX segments reported negative EBITDA and fewer active customers, which could lengthen the recovery period 1.
  • Competitive pressure and discounting could limit margin expansion across the sector 1.
  • Limited comparability of figures and reliance on digital advertising could make it hard to judge genuine progress 1.

What to watch

  • Trajectory of NAP & MRP segment EBITDA after technology migrationnext 10-K
  • Amount of savings achieved under the transformation plan2027
  • Number of active customers in the Luxury and YOOX segmentsnext 10-K
  • Effect of the THE OUTNET sale on the cost structure2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 16 Sept 2026; since then the company filed 6-K (25 Sept 2026).

The business

LuxExperience Group presents itself as a leading global multi-brand luxury digital group with a curated selection of the most coveted luxury brands. Its model combines technology, luxury fashion and personalized service, with mobile-first sites localized in language, currency and payment methods 1. The group grew from the Theresa boutique in Munich and the Mytheresa platform launched in 2006, and after the April 2025 YNAP acquisition became a group with three reportable segments 1.

Luxury | Mytheresa focuses mainly on Europe and offers up to 250 luxury brands for womenswear, with net sales of €994.3 million in fiscal 2026 1. Luxury | NAP & MRP combines NET-A-PORTER and MR PORTER, with a strong presence in North America and net sales of €994.8 million 1. Off-Price | YOOX sells past-season collections and generated €485.1 million 1.

In April 2026 the group sold the assets powering THE OUTNET platform to The O Group LLC, as part of a transformation plan announced in May 2025 1. The plan targets cost savings, migration to a proprietary technology platform and simplification of the legal structure. Comparisons between fiscal 2025 and 2026 are not direct, since the acquisition contributed only from April 23, 2025 1.

Segments

Luxury | NAP & MRP

The segment generated €994.8 million in net sales in fiscal 2026, with negative segment EBITDA of €6.0 million 1. The group is migrating this segment onto its proprietary technology platform, and average order value rose 9.1% 1.

Off-Price | YOOX

YOOX recorded €485.1 million in net sales and negative segment EBITDA of €45.5 million in fiscal 2026 1. Its customers seek past-season products at attractive prices, a customer base clearly distinct from the luxury segments 1.

Market context

The personal luxury goods market reached €358 billion in 2025, and forecasts point to growth in 2026 within an estimated range of €365 to €373 billion 1. The company believes luxury is one of the last attractive categories to expand online and remains underpenetrated compared with mainstream apparel 1. The number of high-net-worth individuals grew 7.9% in 2025, supporting demand 1.

The cited studies forecast 2% to 5% market growth in 2026 and a compound annual growth of 4% to 7% from 2026 to 2029 1. The group's position could depend on its ability to gain share as online luxury retailers consolidate 1.

Trends

  • Growing wealth of high-net-worth clientstailwind

    The number and wealth of HNWIs rose in 2025, supporting demand for luxury products and potentially premium segment sales 1.

  • Shift of luxury buyers toward digital channelstailwind

    The company argues luxury is still underpenetrated online, a trend that could bring new customers if its digital experience stays competitive 1.

  • Competitive pressure and discountingheadwind

    Sector consolidation and deep discounting by struggling competitors could weigh on margins and brand partner relationships 1.

  • Rising cost of digital customer acquisitionmixed

    Algorithm and policy changes at digital platforms may raise marketing costs, and recovery of organic traffic can take several quarters 1.

Competitive position

Online luxury retail is fragmented and highly competitive, with global multi-brand retailers, marketplaces, boutiques and consignment stores 1. Larger competitors have advantages in infrastructure, data and financial resources, and several retailers entered insolvency proceedings in 2025 and 2026 1.

The company notes that several luxury retailers sought protection under local insolvency laws, including LuisaViaRoma, Ssense and Saks Global 1. This consolidation could reduce the number of rivals but could also intensify pricing pressure 1.

  • Saks Global

    Multi-brand luxury retailer that sought protection under insolvency laws in January 2026, cited as an example of sector consolidation 1.

  • LuisaViaRoma

    Online luxury retailer that entered insolvency proceedings in August 2025, cited among competitive risks 1.

  • Ssense

    Multi-brand luxury platform that sought protection under insolvency laws in August 2025 1.

  • Marketplaces and luxury boutiques

    Marketplaces, mono-brand boutiques and consignment stores compete for the same high-income customers 1.

News & filings

In the press

The latest news item in our archive is from 20 Sept 2026; the newest SEC filing is from 25 Sept 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

Sources

  1. [1] Form 20-F, fiscal year ended 2026-06-30 · SEC / LuxExperience B.V. · 16 Sept 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.