Document and Entity Information	6 Months Ended
Document and Entity Information	Dec. 31, 2024
Cover
Document Type	6-K
Document Period End Date	Dec. 31, 2024
Entity Registrant Name	MYT NETHERLANDS PARENT B.V.
Entity Central Index Key	0001831907
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Amendment Flag	false

Unaudited Condensed Consolidated Statements of Profit & Loss and Comprehensive Income - EUR (€)
€ in Thousands, shares in Millions

3 Months Ended

6 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2024

Dec. 31, 2023

Unaudited Condensed Consolidated Statements of Profit & Loss and Comprehensive Income

Net sales

€ 222,985

€ 196,630

€ 424,685

€ 384,096

Cost of sales, exclusive of depreciation and amortization

(109,399)

(98,695)

(222,467)

(206,673)

Gross profit

113,585

97,935

202,219

177,423

Shipping and payment cost

(33,698)

(32,513)

(63,058)

(60,825)

Marketing expenses

(30,076)

(23,458)

(55,069)

(47,157)

Selling, general and administrative expenses

(48,726)

(42,012)

(104,739)

(80,439)

Depreciation and amortization

(3,929)

(3,842)

(11,057)

(7,238)

Other income (expense), net

302

(887)

(876)

(13)

Operating loss

(2,543)

(4,777)

(32,580)

(18,249)

Finance income

1

Finance costs

(1,953)

(1,197)

(3,174)

(2,206)

Finance costs, net

(1,953)

(1,197)

(3,174)

(2,205)

Loss before income taxes

(4,496)

(5,974)

(35,753)

(20,455)

Income tax (expense) benefit

(193)

161

7,542

2,468

Net loss

(4,689)

(5,813)

(28,211)

(17,987)

Cash Flow Hedge

(4,213)

1,549

(3,178)

(195)

Income Taxes related to Cash Flow Hedge

1,176

(432)

887

54

Foreign currency translation

47

(21)

18

(33)

Other comprehensive income (loss)

(2,990)

1,096

(2,273)

(174)

Comprehensive loss

€ (7,679)

€ (4,717)

€ (30,484)

€ (18,160)

Basic earnings per share

€ (0.05)

€ (0.07)

€ (0.32)

€ (0.21)

Diluted earnings per share

€ (0.05)

€ (0.07)

€ (0.32)

€ (0.21)

Weighted average ordinary shares outstanding (basic)

^[1]

87.2

86.8

87.2

86.8

Weighted average ordinary shares outstanding (diluted)

87.2

86.8

87.2

86.8

[1]	In accordance with IAS 33, includes contingently issuable shares that are fully vested and can be converted at any time for no consideration. For further details, refer to note 14.

Unaudited Condensed Consolidated Statements of Profit & Loss and Comprehensive Income (Parenthetical)	Dec. 31, 2024 € / shares
Unaudited Condensed Consolidated Statements of Profit & Loss and Comprehensive Income
Exercise price of contingently issuable shares, per share	€ 0

Unaudited Condensed Consolidated Statements of Financial Position - EUR (€) € in Thousands	Dec. 31, 2024	Jun. 30, 2024
Non-current assets
Intangible assets and goodwill	€ 155,204	€ 154,951
Property and equipment	38,901	43,653
Right-of-use assets	42,862	45,468
Deferred tax assets	9,367	1,999
Other non-current assets	7,730	7,572
Total non-current assets	254,064	253,643
Current assets
Inventories	404,570	370,635
Trade and other receivables	9,387	11,819
Other assets	33,983	45,306
Cash and cash equivalents	13,836	15,107
Total current assets	461,776	442,867
Total assets	715,840	696,511
Shareholders' equity and liabilities
Subscribed capital	1	1
Capital reserve	556,489	546,913
Accumulated Deficit	(140,978)	(112,767)
Accumulated other comprehensive income	(777)	1,496
Total shareholders' equity	414,736	435,643
Non-current liabilities
Provisions	2,869	2,789
Lease liabilities	38,795	40,483
Deferred tax liabilities	31	11
Total non-current liabilities	41,695	43,282
Current liabilities
Borrowings	40,594
Tax liabilities	8,403	10,643
Lease liabilities	8,561	9,282
Contract liabilities	16,919	17,104
Trade and other payables	71,923	85,322
Other liabilities	113,010	95,235
Total current liabilities	259,410	217,585
Total liabilities	301,105	260,867
Total shareholders' equity and liabilities	€ 715,840	€ 696,511

Unaudited Condensed Consolidated Statements of Changes in Equity - EUR (€) € in Thousands	Subscribed capital	Capital reserve	Accumulated deficit	Hedging reserve	Foreign currency translation reserve	Total
Equity at beginning of period at Jun. 30, 2023	€ 1	€ 529,775	€ (87,856)		€ 1,509	€ 443,429
Net loss			(17,987)			(17,987)
Other comprehensive income (loss)				€ (141)	(33)	(174)
Comprehensive loss			(17,987)	(141)	(33)	(18,160)
Share-based compensation		11,336				11,336
Equity at end of period at Dec. 31, 2023	1	541,111	(105,843)	(141)	1,476	436,604
Equity at beginning of period at Jun. 30, 2024	1	546,913	(112,767)		1,496	435,643
Net loss			(28,211)			(28,211)
Other comprehensive income (loss)				(2,291)	18	(2,273)
Comprehensive loss			(28,211)	(2,291)	18	(30,484)
Reclassification due to cash settlement of share-based compensation		(66)				(66)
Share-based compensation		9,642				9,642
Equity at end of period at Dec. 31, 2024	€ 1	€ 556,489	€ (140,978)	€ (2,291)	€ 1,514	€ 414,736

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
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-Paragraph 18
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-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-Paragraph 32
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-Paragraph 24
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-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Number 8
-IssueDate 2023-01-01
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-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
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-IssueDate 2023-01-01
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

+ Details

Unaudited Condensed Consolidated Statements of Cash Flows - EUR (€) € in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Unaudited Condensed Consolidated Statements of Cash Flows
Net loss	€ (28,211)	€ (17,987)
Adjustments for
Depreciation and amortization	11,057	7,238
Finance costs, net	3,174	2,205
Share-based compensation	9,642	11,336
Income tax benefit	(7,542)	(2,468)
Change in operating assets and liabilities
Increase in inventories	(33,935)	(49,733)
Decrease (increase) in trade and other receivables	2,432	(7,995)
Decrease in other assets	11,121	6,585
Increase in other liabilities	14,403	7,017
(Decrease) increase in contract liabilities	(185)	1,205
(Decrease) increase in trade and other payables	(13,405)	32,198
Income taxes paid	(1,158)	(4,371)
Net cash used in operating activities	(32,607)	(14,770)
Expenditure for property and equipment and intangible assets	(1,708)	(4,551)
Net cash (used in) investing activities	(1,708)	(4,551)
Interest paid	(3,045)	(2,205)
Proceeds from borrowings	40,594	1,404
Cash settlement of share-based compensation	(66)
Payment of lease liabilities	(4,572)	(3,515)
Net cash inflow (outflow) from financing activities	32,911	(4,316)
Net decrease in cash and cash equivalents	(1,404)	(23,638)
Cash and cash equivalents at the beginning of the period	15,107	30,136
Effects of exchange rate changes on cash and cash equivalents	134	(61)
Cash and cash equivalents at end of the period	€ 13,836	€ 6,437

Corporate information

6 Months Ended

Dec. 31, 2024

Corporate information

Corporate information

1.Corporate information

MYT Netherlands Parent B.V. (the “Company”, together with its subsidiaries, “Mytheresa Group”) is a private company with limited liability incorporated by MYT Holding LLC under the laws of the Netherlands on May 31, 2019. The statutory seat of the Company is in Amsterdam, the Netherlands. The registered office address of the Company is Einsteinring 9, 85609 Aschheim, Germany. The Company is registered at the trade register of the German Chamber of Commerce under number 261084.

The Company is a holding company. Through its subsidiary Mytheresa Group GmbH (“MGG”), Mytheresa Group operates a digital platform for the global luxury fashion consumer, in addition to its flagship retail store and men’s location in Munich. Mytheresa Group started as one of the first multi-brand luxury boutiques in Germany and launched its online business in 2006. Mytheresa Group provides customers with a highly curated selection of products, access to exclusive capsule collections, in-house produced content, and a personalized, memorable shopping experience.

As of December 31, 2024, 77.5% of the shares of the Company were held by MYT Holding LLC, USA. The ultimate controlling party of Mytheresa Group is MYT Ultimate Parent LLC, USA as of December 31, 2024.

The interim consolidated financial statements of Mytheresa Group were authorized for issue by the Management Board on February 11, 2025.

Basis of preparation

6 Months Ended

Dec. 31, 2024

Basis of preparation

Basis of preparation

2.Basis of preparation

These interim condensed consolidated financial statements as of and for the three months and six months ended December 31, 2023 and 2024 were prepared in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’, as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial and notes thereto included in the Company’s Annual Report on Form 20-F for the year ended June 30, 2024, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRIC”).

Mytheresa Group’s fiscal year ends June 30. All intercompany transactions are eliminated during the preparation of the interim condensed consolidated financial statements.

The interim condensed consolidated financial statements have been prepared on a historical cost basis, unless otherwise stated. The interim condensed consolidated financial statements are presented in Euro (“€”), which is Mytheresa Group’s functional currency. All amounts are rounded to the nearest thousands, except when otherwise indicated. Due to rounding, differences may arise when individual amounts or percentages are added together.

The interim condensed consolidated financial statements are prepared under the assumption that the business will continue as a going concern. Management believes that Mytheresa Group has adequate resources to continue operations for the foreseeable future.

The comparative information is revised on account of revision of comparative figures. Please see Note 6.

Impacts to the consolidated financial statements due to economic recession, inflation and war in Ukraine as well as in the Middle East

6 Months Ended

Dec. 31, 2024

Impacts to the consolidated financial statements due to economic recession, inflation and war in Ukraine as well as in the Middle East

Impacts to the consolidated financial statements due to economic recession, inflation and war in Ukraine as well as in the Middle East

3.	Impacts to the consolidated financial statements due to economic recession, inflation and war in Ukraine as well as in the Middle East.

As of the reporting date, the Group has maintained operational stability, experiencing no major disruptions in its supply chain, logistics, or partnerships. The global economic uncertainties, exacerbated by the war in Ukraine and Middle East and other geopolitical factors, may impact the Group’s business activities and future sales.

The inflationary pressures have affected customer prices, and Mytheresa Group considers increases in recommended retail prices from suppliers in its pricing strategy. Despite the luxury product market showing resilience to inflation-induced demand shifts, the Group is not immune to increased cost inflation in various aspects of its business model. Furthermore, macro-economic factors such as high interest rates and customer uncertainties may contribute to a potential recession in certain markets, leading to a temporary negative impact on overall customer demand.

These economic uncertainties, coupled with the effects of geopolitical events, may pose challenges to Mytheresa Group’s brand partners, customers, and other business activities. The negative effect of these economic uncertainties was visible in the three and six months ended December 31, 2024 and is expected to continue. Nevertheless, the current stance is that the management does not anticipate any long-term adverse effects from the ongoing uncertainties in the global economy, although vigilance and adaptability remain crucial in navigating these complex conditions.

Significant accounting policies

6 Months Ended

Dec. 31, 2024

Significant accounting policies

Significant accounting policies

4.Significant accounting policies

The accounting policies applied by Mytheresa Group in these interim condensed consolidated financial statements are the same as those applied by Mytheresa Group in its consolidated financial statements for fiscal year 2024.

Critical accounting judgments and key estimates and assumptions

6 Months Ended

Dec. 31, 2024

Critical accounting judgments and key estimates and assumptions

Critical accounting judgments and key estimates and assumptions

5.Critical accounting judgments and key estimates and assumptions

The preparation of Mytheresa Group’s interim condensed consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of net sales, expenses, assets and liabilities, and the accompanying note disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. The estimates and underlying assumptions are subject to continuous review.

In preparing the interim condensed consolidated financial statements, the significant judgments made by management in applying Mytheresa Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for fiscal year 2024.

Revision of comparative figures

6 Months Ended

Dec. 31, 2024

Revision of comparative figures

Revision of comparative figures

6.Revision of comparative figures

In the company’s application of IFRS 15 Revenue from Contracts with Customers, the measurement of the breakage amount for certain vouchers issued to customers was incorrectly determined for the periods 2021, 2022 and 2023. To correct for the effects of this error, which is immaterial for all prior periods, the comparative figures for the three and six months ended December 31, 2023 have been revised as follows:

●

In the consolidated statements of loss and comprehensive loss for the three and six months ended December 31, 2023, net sales and gross profit decreased by €399 thousand and €711 thousand respectively. Operating loss, net loss and the respective comprehensive loss increased by €399 thousand and €711 thousand respectively. There was no impact on basic and diluted earnings per share (“EPS”) for the three and six months ended December 31, 2023.

●

In the consolidated statements of changes in equity, accumulated deficit and accordingly, total shareholders’ equity as of July 1, 2023 decreased by €4,002 thousand. Accumulated deficit and accordingly, total shareholders’ equity as of December 31, 2023, decreased by €4,713 thousand.

●

In the consolidated statements of cashflow for the six months ended December 31, 2023 Net loss increased by €711 thousand. The effect on net loss is offset by a corresponding increase in contract liabilities of €711 thousand as of December 31, 2023.

Segment information

6 Months Ended

Dec. 31, 2024

Segment information

Segment information

7.Segment information

In line with the management approach, the operating segments were identified on the basis of Mytheresa Group’s internal reporting and how our chief operating decision maker (CODM), assesses the performance of the business. Mytheresa Group collectively identifies its Chief Executive Officer and Chief Financial Officer as the CODM. On this basis, Mytheresa Group identifies its online operations and retail store as separate operating segments. Segment EBITDA is used to measure performance, because management believes that this information is the most relevant in evaluating the respective segments relative to other entities that operate in the retail business.

Segment EBITDA is defined as operating income excluding depreciation and amortization.

Assets are not allocated to the different business segments for internal reporting purposes.

The following is a reconciliation of the Company’s segment EBITDA to consolidated net income.


	Three months ended December 31, 2023
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽¹⁾	IFRS consolidated
Net sales	192,832	3,798	196,630	—	196,630
Segment EBITDA	10,312	1,232	11,544	(12,479)	(935)
Depreciation and amortization					(3,842)
Finance costs, net					(1,197)
Income tax benefit					161
Net loss					(5,813)


	Six months ended December 31, 2023
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽¹⁾	IFRS consolidated
Net sales	376,425	7,671	384,096	—	384,096
Segment EBITDA	11,292	2,599	13,892	(24,903)	(11,011)
Depreciation and amortization					(7,238)
Finance costs, net					(2,205)
Income tax benefit					2,468
Net loss					(17,987)


	Three months ended December 31, 2024
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽²⁾	IFRS consolidated
Net sales	218,911	4,074	222,985	—	222,985
Segment EBITDA	20,450	1,387	21,837	(20,451)	1,386
Depreciation and amortization					(3,929)
Finance costs, net					(1,953)
Income tax benefit					(193)
Net loss					(4,689)


	Six months ended December 31, 2024
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽²⁾	IFRS consolidated
Net sales	416,927	7,759	424,685	—	424,685
Segment EBITDA	25,800	2,461	28,261	(49,784)	(21,523)
Depreciation and amortization					(11,057)
Finance costs, net					(3,174)
Income tax benefit					7,542
Net loss					(28,211)

(1)

During the three and six months ended December 31, 2023, there were €4,012 thousand and €7,515 thousand in corporate administrative expenses that were not assigned to either the online operations or retail stores. Additionally, there were €3,609 thousand and €6,051 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €4,857 thousand and €11,336 thousand.

(2)

During the three and six months ended December 31, 2024, there were €5,659 thousand and €9,159 thousand in corporate administrative expenses that were not assigned to either the online operations or retail stores. Additionally, there were €9,645 thousand and €30,983 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €5,147 thousand and €9,642 thousand.

Net sales and geographic information

6 Months Ended

Dec. 31, 2024

Net sales and geographic information

Net sales and geographic information

8.Net sales and geographic information

Mytheresa Group earns revenues worldwide through its online operations, while all revenue associated with the two retail stores is earned in Germany. Geographic location of online revenue is determined based on the location of delivery to the end customer. Mytheresa Group generates revenue from the sale of merchandise shipped to customers as well as from commissions for the rendering of services in connection with the Curated Platform Model (CPM).

The following table provides Mytheresa Group’s net sales by geographic location:


	For the three months ended December 31,
(in € thousands)	2023			2024
Germany	32,955	16.8	%	31,686	14.2	%
United States	39,110	19.9	%	45,979	20.6	%
Europe (excluding Germany) ^(*)	76,450	38.9	%	91,736	41.1	%
Rest of the world	48,115	24.5	%	53,583	24.0	%
	196,630	100.0	%	222,985	100.0	%


	For the six months ended December 31,
(in € thousands)	2023			2024
Germany	61,956	16.1	%	59,238	13.9	%
United States	75,253	19.6	%	87,025	20.5	%
Europe (excluding Germany) ^(*)	151,905	39.5	%	178,830	42.1	%
Rest of the world	94,982	24.7	%	99,591	23.5	%
	384,096	100.0	%	424,685	100.0	%

(1)No individual country other than Germany and the United States accounted for more than 10% of net sales.

(*)Including United Kingdom.

All amounts classified within net sales are derived from the sale of luxury goods and rendering of services. Net sales related to rendering of services is below 10% of total net sales. No single customer accounted for more than 10% of Mytheresa Group’s net sales in any of the periods presented. Substantially, all long-lived assets are located in Germany.

Application of hedge accounting resulted in €285 thousand and €310 thousand decrease in sales for three and six months ended December 31, 2023 respectively. For the three and six months ended December 31, 2024 a decrease in sales was €939 thousand and €752 thousand respectively.

Cost of sales, exclusive of depreciation and amortization

6 Months Ended

Dec. 31, 2024

Cost of sales, exclusive of depreciation and amortization.

Cost of sales, exclusive of depreciation and amortization

9.Cost of sales, exclusive of depreciation and amortization

The following table provides Mytheresa Group’s inventory write-downs classified as Cost of sales, exclusive of depreciation and amortization:


	Three Months Ended December 31,		Six Months Ended December 31,
(in € thousands)	2023	2024	2023	2024
Inventory write-downs	(716)	(1,751)	(4,542)	(5,335)

Inventory is written down when its net realizable value is below its carrying amount. Mytheresa Group estimates net realizable value as the amount at which inventories are expected to be sold, taking into consideration fluctuations in selling prices due to seasonality, less estimated costs necessary to complete the sale.

Finance costs, net

6 Months Ended

Dec. 31, 2024

Finance costs, net

Finance costs, net

10.Finance costs, net

The following table provides Mytheresa Group’s Finance costs, net:


	Three Months Ended December 31,		Six Months Ended December 31,
(in € thousands)	2023	2024	2023	2024
Interest expenses on revolving credit facilities	(446)	(1,227)	(701)	(1,820)
Interest expenses on leases	(752)	(675)	(1,505)	(1,354)
Total finance costs	(1,197)	(1,953)	(2,206)	(3,174)

Other interest income	—	—	1	—
Total finance income	—	—	1	—
Finance costs, net	(1,197)	(1,953)	(2,205)	(3,174)

Mytheresa Group utilized €40.6 million and provided €8.3 million in guarantees under the €75.0 million Revolving Credit Facility as of December 31, 2024.

Income taxes

6 Months Ended

Dec. 31, 2024

Income taxes

Income taxes

11.Income taxes

In accordance with IAS 34 (Interim Financial Reporting) income tax expense for the condensed consolidated interim financial statements is calculated on the basis of the average annual tax rate that is expected for the entire fiscal year, adjusted for the tax effect of certain items recognized in the full interim period. As such, the effective tax rate in the interim financial statements may differ from management’s original best estimate of the effective rate.


	Three Months Ended December 31,				Six Months Ended December 31,
(in %)	2023		2024		2023		2024
Effective tax rate	2.7	%	(4.3)	%	12.1	%	21.1	%

The change in the effective tax rate and tax expense for the three and six months ended December 31, 2023, and 2024, was primarily driven by share-based compensation (SBC) expenses, which are non-deductible for tax purposes. For the three months ended December 31, 2024, a Loss before income taxes was reported; however, excluding the impact of SBC, the result would have been a Profit before income taxes. This resulted in a tax expense despite the reported loss, leading to a negative effective tax rate for the period.

Property and equipment

6 Months Ended

Dec. 31, 2024

Property and equipment.

Property and equipment

12.Property and equipment

Property and equipment decreased from €43,653 thousand as of June 30, 2024 by €4,752 thousand to €38,901 thousand as of December 31, 2024. Included in depreciation and amortization is an impairment loss of €3.1 million recognized, in accordance with IAS 36, on property plant and equipment utilized in the Heimstetten distribution center which was closed in August 2024. The recoverable amount for these assets, as defined by IAS 36, was assessed to be zero.

Other assets

6 Months Ended

Dec. 31, 2024

Other assets

Other assets

13.Other assets

Details of other assets consist of the following:


(in € thousands)	June 30, 2024	December 31, 2024
Right of return assets	13,205	9,658
Current VAT receivables	—	968
Prepaid expenses	4,233	3,361
Receivables against payment service providers	1,086	1,123
Advanced payments	2,582	1,984
Deposits	152	31
DDP duty drawbacks ⁽¹⁾	14,352	8,463
Other current assets ⁽²⁾	9,696	8,396
	45,306	33,983

(1)	The position is related to DDP duty drawbacks for international customs.

(2)	Other current assets consist mostly of creditors with debit balances.

Details of other non-current assets consist of the following:


(in € thousands)	June 30, 2024	December 31, 2024
Other non-current receivables	29	1
Non-current deposits	1,431	1,593
Non-current prepaid expenses ⁽¹⁾	6,112	6,136
	7,572	7,730

(1)	This amount relates mostly to prepayments made to Climate Partner, an organization that invests in certain Gold Standard Projects, to offset our carbon emissions and reduce our overall carbon footprint.

Share-based compensation

6 Months Ended

Dec. 31, 2024

Share-based compensation

Share-based compensation

14.Share-based compensation

a)Description of share-based compensation arrangements

In connection with the Initial Public Offering (“IPO”) of MYT Netherlands Parent B.V. in January 2021, we adopted the 2020 Plan (MYT Netherlands Parent B.V. 2020 Omnibus Incentive Compensation Plan), under which we granted equity-based awards to selected key management members and supervisory board members on January 20, 2021. Selected key management members were granted an IPO related award package. This package consists of the “Alignment Grant” and the “Restoration Grant”. Furthermore, restricted shares were granted to supervisory board members as part of the annual plan. Additionally, the Compensation Committee of the Supervisory Board decides annually about a Long-Term Incentive Plan (LTI). As of July 1, 2021, 2022, 2023 and 2024 the LTI was granted to certain key management members consisting of restricted share units (“RSUs”) with time and performance obligations and for the LTI granted on July 1, 2023 and on July 1, 2024 certain stock options were granted to selected key management members under the new 2023 Omnibus Incentive Compensation Plan on the 8th of November 2023. Mytheresa Group established an Employee Share Purchase Plan, with the intent to encourage long-term relationship with the company and its employees. Pursuant to paragraphs 21(g) and 24 of IAS 33, as certain shares are fully vested and contingently issuable for no consideration, they are treated as outstanding and included in the calculation of both basic and diluted earnings per share.

i)

IPO Related One-Time Award Package

Alignment Grant

Under 2020 Omnibus Incentive Compensation Plan share-based payment program, options were granted to selected key management members. The options vest and become exercisable with respect to 25 % on each of the first four anniversaries of the grant date (January 20, 2021). After vesting, each option grants the right to purchase one American Depositary Share (each, an “ADS”) at a predefined exercise price per share. The vested options can be exercised up to 10 years after the grant date. The granted options are divided into three different tranches which have varying exercise prices. Overall, 6,478,761 options were granted to 21 key management members. The amount recognized as share-based compensation expense under this program is based on a weighted average historical share price of 31 USD. Please also refer to the section titled, “b) Measurement of fair values”.

Restoration Grant

Under 2020 Omnibus Incentive Compensation Plan share-based payment program, phantom shares were granted to selected key management members. Each phantom share represents the right of the grantee to receive one ADS in exchange for a phantom share. The granted phantom share vested immediately on the grant date and can be converted into an ADS at any time but are subject to transfer restrictions after conversion. Up to 25% of the granted phantom shares can be transferred after conversion at any time after the second anniversary of the grant date. The remaining 75% of the granted phantom shares can be transferred after conversion if certain conditions are met or at the fourth anniversary of the grant date at latest. The phantom shares can be converted into ADSs up to 10 years after the grant date. Overall, 1,875,677 phantom shares were granted to 21 key management members. The amount recognized as share-based compensation expense under this program is based on a weighted average historical share price of 31 USD. Please also refer to b) Measurement of fair values.

The following table summarizes the main features of the one-time award package:


Type of arrangement	Alignment Award	Restoration Award
Type of Award	Share Options	Phantom Shares
Date of first grant	January 20, 2021	January 20, 2021
Number granted	6,478,761	1,875,677
Vesting conditions	25% graded vesting of the granted share options in each of the next four years of service from grant date	The restoration awards are fully vested on the Grant Date.

ii)

Annual Plan

Supervisory Board Members Plan

On May 8, 2023, 67,264 RSUs were granted to four Supervisory Board Members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested on May 8, 2024. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 4.46, the closing share price of the grant date.

On September 5, 2023, 11,478 RSUs were granted to one Supervisory Board Member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested on September 5, 2024. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 3.63, the closing share price of the grant date.

On November 8, 2023, 149,147 RSUs were granted to five Supervisory Board Members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested on November 8, 2024. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 3.52, the closing share price of the day before the grant date.

The following table summarizes the main features of the annual plan:


Type of arrangement	Supervisory Board Members plan
Type of Award	Restricted Shares / Restricted Share Units
Date of first grant	May 8, 2023	September 5, 2023	November 8, 2023
Number granted	67,264	11,478	149,147
Vesting conditions	The restricted share Units vested in full on May 8, 2024	The restricted share Units are vested in full on September 5, 2024	The restricted share Units are vested in full on November 8, 2024

Long-Term Incentive Plan

On July 1, 2021, 171,164 restricted share units (“RSUs”) were granted to selected key management members. RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. Out of the granted RSUs, 62,217 RSUs; “time-vesting RSUs” will be subject to a time-based vesting and 108,947 RSUs; “non-market performance RSUs” will be subject to a time and performance-based vesting. One-third (1/3) of the time-vesting RSUs awarded vested in substantially equal installments on each of June 30, 2022, June 30, 2023 and June 30, 2024, subject to continued service on such vesting dates.

The non-market performance RSUs vested after 3 years on June 30, 2024 and contain a performance condition that will determine the number of shares awardable at the end of the performance period pursuant to the respective vested restricted share units. The performance condition is based upon the three-year cumulative gross profit target. Potential award levels range from 25-200% of the grant depending on the achievement of a gross profit target over the three-year period. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 30.68 for 170,221 RSUs and USD 22.38 for 943 RSUs, the closing share price of the grant date.

On July 1, 2022, 674,106 RSUs were granted to selected key management members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. Out of the granted RSUs, 255,754 RSUs; “time-vesting RSUs” will be subject to a time-based vesting and 418,352 RSUs; “non-market performance RSUs” will be subject to a time and performance-based vesting. One-third (1/3) of the time-vesting RSUs awarded will vest in substantially equal installments on each of June 30, 2023, June 30, 2024 and June 30, 2025, subject to continued service on such vesting dates.

The non-market performance RSUs will vest after 3 years on June 30, 2025 and contain a performance condition that will determine the number of shares awardable at the end of the performance period pursuant to the respective vested restricted share units. The performance condition is based upon the three-year cumulative gross profit target. Potential award levels range from 25-200% of the grant depending on the achievement of a gross profit target over the three-year period. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 9.68 for 674,106 RSUs.

On July 1, 2023, 3,113,125 RSUs were granted to selected key management members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. As the LTI awarded on July 1, 2023 was subject to approval by the shareholders, the grant date was the date of the Annual General Meeting (AGM) when approval was obtained on November 8, 2023. Out of the granted RSUs, 1,696,022 RSUs; “time-vesting RSUs” will be subject to a time-based vesting and 1,417,103 RSUs; “non-market performance RSUs” will be subject to a time and performance-based vesting. One-third (1/3) of the time-vesting RSUs awarded will vest in substantially equal installments on each of June 30, 2024, June 30, 2025 and June 30, 2026, subject to continued service on such vesting dates.

The non-market performance RSUs will vest after 3 years on June 30, 2026 and contain a performance condition that will determine the number of shares awardable at the end of the performance period pursuant to the respective vested restricted share units. Potential award levels range from 25-200% of the grant depending on the achievement of a GMV growth and an adjusted EBITDA margin target over the three-year period. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 3.41 for 3,113,125 RSUs, which was approved in the AGM on November 8, 2023.

On July 1,2023, 2,923,280 stock options were granted to selected key management members. One third (1/3) of the options vest and become exercisable on each on the first three anniversaries of the service commencement date. After vesting, each option grants the right to purchase one share at a price of USD 4.00. The vested options can be exercised up to 10 years after the service commencement date. The granted options are divided into three different tranches which have varying grant date fair values. As the stock options awarded on July 1, 2023 were subject to approval by the shareholders, the grant date is the date of the AGM when approval was obtained on November 8, 2023.

Additionally, on December 15, 2023, 682,021 stock options were granted, with service commencement date July 1, 2023 on similar terms to same selected key management members. One third (1/3) of the options vest and become exercisable on each on the first three anniversaries of the service commencement date. After vesting, each option grants the right to purchase one share at a price of USD 4.00. The vested options can be exercised up to 10 years after the service commencement date. The granted options are divided into three different tranches which have varying grant date fair values.

On July 1, 2024, 2,295,434 RSUs were granted to selected key management members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. Out of the granted RSUs, 1,252,241 RSUs; “time-vesting RSUs” will be subject to a time-based vesting and 1,043,193 RSUs; “non-market performance RSUs” will be subject to a time and performance-based vesting. One-third (1/3) of the time-vesting RSUs awarded will vest in substantially equal installments on each of June 30, 2025, June 30, 2026 and June 30, 2027, subject to continued service on such vesting dates.

The non-market performance RSUs will vest after 3 years on June 30, 2027 and contain a performance condition that will determine the number of shares awardable at the end of the performance period pursuant to the respective vested restricted share units. Potential award levels range from 25-200% of the grant depending on the achievement of a GMV growth and an adjusted EBITDA margin target over the three-year period. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 5.07 for 2,295,434 RSUs.

On July 1, 2024, 3,277,477 stock options were granted to selected key management members. One third (1/3) of the options vest and become exercisable on each on the first three anniversaries of the service commencement date. After vesting, each option grants the right to purchase one share at a price of USD 5.07. The vested options can be exercised up to 10 years after the service commencement date. The granted options are divided into three different tranches which have varying grant date fair values.

On October 1, 2024, 102,740 time-vesting RSUs were granted to selected key management member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of MYT Netherlands Parent B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s will vest on July 1, 2025. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 3.65, the closing share price of the day before the grant date.

The following table summarizes the main features of time-vesting RSUs under the annual plan:


Type of	Key Management Members
arrangement	Long-Term Incentive Plan
Type of Award	Time-vesting RSUs
Service commencement date	July 1, 2021	July 1, 2022	July 1, 2023	July 1, 2024	Oct. 1, 2024
Grant date	July 1, 2021	July 1, 2022	Nov. 8, 2023	July 1, 2024	Oct. 1, 2024
Number granted	62,217	255,754	1,696,022	1,252,241	102,740
Vesting conditions	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Vest in full on July 1, 2025

The following table summarizes the main features non-market performance RSUs and stock option awards under the annual plan:

Type of

Key Management Members

arrangement

Long-Term Incentive Plan

Type of Award

Non-market performance RSUs

Stock options

Service commencement date

July 1, 2021

July 1, 2022

July 1, 2023

July 1, 2024

July 1, 2023

July 1, 2024

Grant date

July 1, 2021

July 1, 2022

Nov. 8, 2023

July 1, 2024

Various dates¹

July 1, 2024

Number granted

108,947

418,352

1,417,103

1,043,193

3,605,301

3,277,477

Vesting conditions

3 year’s services from grant date and achievement of a certain level of cumulative gross profit.

3 year’s services from service commencement date and achievement of a certain level of cumulative GMV growth and adjusted EBITDA margin.

Graded vesting of 1/3 of the granted share options in each of the next three years of service from service commencement date.

(1)	The award is composed of 2 separate grants: 2,923,280 options granted and approved on November 8, 2023 and additional 682,021 options granted on December 15, 2023. Both grants are part of the same award and subject to the same conditions.

Employee Share Purchase Program (ESPP)

On May 29, 2023, the Company commenced its first open enrollment period for its Employee Share Purchase Program (“ESPP”), which was approved by the shareholders on October 27, 2022, at the Company’s annual general meeting. The objective of the ESPP is to allow employees of the Company (or any of its subsidiaries) to participate in the growth of the Company and to promote long-term corporate engagement by offering eligible employees the opportunity to acquire American Depositary Shares representing shares in the capital of the Company, at a discount, subject to the terms of the ESPP. The discount is fixed to one-fourth of the investment by the participant. The discount is implemented by increasing the number of shares with one-third (e.g. a participant receives four ADSs for the price of three ADSs). The expense that was recorded in equity, displaying the contribution of Mytheresa to the employees, amounted to €28 thousand. 29,641 shares were issued in the program. The grant date fair value amounts to USD 4.00.

On May 17, 2024 the Company commenced its second open enrollment period for its Employee Share Purchase Program. The expense that was recorded in equity, displaying the contribution of Mytheresa to the employees, amounted to €18 thousand. 13,149 shares were issued in the program. The grant date fair value amounts to USD 6.00.

b)Measurement of fair values

Alignment Grant

The fair value of the employee share options has been measured using the Black-Scholes formula. The inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans were as follows.


Black Scholes Model - Weighted Average Values	Tranche I			Tranche II			Tranche III
Weighted average fair value	$	25.42		$	22.93		$	20.68
Exercise price	$	5.79		$	8.68		$	11.58
Weighted average share price	$	31.00		$	31.00		$	31.00
Expected volatility		60	%		60	%		60	%
Expected life		2.32	years		2.32	years		2.32	years
Risk free rate		0.0	%		0.0	%		0.0	%
Expected dividends		—			—			—

Expected volatility has been based on an evaluation of the historical volatility of publicly traded peer companies, particularly over the historical period commensurate with the expected term.

Stock Options from Long-Term Incentive Plan

The fair value of the employee share options has been measured using the Black-Scholes formula. The inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans were as follows.


	Grant date			Grant date			Grant date
Black Scholes Model - Weighted Average Values	November 8, 2023			December 15, 2023			July 1, 2024
Weighted average fair value	$	0.64		$	0.65		$	1.82
Exercise price	$	4.00		$	4.00		$	5.07
Weighted average share price	$	3.41		$	3.55		$	5.07
Expected volatility		45.83	%		45.32	%		64.47	%
Expected life		1.65	years		1.55	years		1.97	years
Risk free rate		3.00	%		2.37	%		2.88	%
Expected dividends		—			—			—

For the options granted before June 30, 2024, expected volatility has been based on an evaluation of the historical volatility of publicly traded peer companies, particularly over the historical period commensurate with the expected term.

For the options granted after June 30, 2024, expected volatility has been based on an evaluation of the historical volatility of the Company’s own shares, particularly over the historical period commensurate with the expected term.

Restoration Grant

As the phantom shares granted under the Restoration Award are not subject to an exercise price, the grant date fair value amounts to USD 31, the closing share price on the first trading day.

c)Share-based compensation expense recognized

Amounts recognized for share based payment programs were as follows:


	Six Months Ended
	December 31,
(in € thousands)	2023	2024
Classified within capital reserve (beginning of year)	158,453	175,591
Expense related to:	11,336	9,576
Share Options (Alignment Grant)	8,790	3,787
Share Options (LTI)	478	1,805
Restricted Shares	—	181
Restricted Share Units	2,068	3,803
Classified within capital reserve (end of year)	169,789	185,167

During the six months ended December 31, 2024, the Company withheld 13,787 shares to cover tax obligations related to the vesting of RSUs. The total value of the shares withheld was €66 thousand which was based on the market price of the Company’s shares on the vesting date.

d)

Reconciliation of outstanding share options

The number and weighted-average exercise prices of share options under the share option programs described under the Alignment award were as follows.


	Alignment award
		Wtd. Average
	Options	Exercise Price (USD)
June 30, 2023	6,197,415	8.55
forfeited	—	N/A
exercised	—	N/A
December 31, 2023	6,197,415	8.55

June 30, 2024	6,063,090	8.57
forfeited	(21,165)	11.58
exercised	—	N/A
December 31, 2024	6,041,925	8.56

The range of exercise prices for the share options outstanding as of December 31, 2024 is between 5.79 USD and 11.58 USD. The average remaining contractual life is 6.06 years.

The number and weighted-average exercise prices of share options under the share option programs described in Long-Term Incentive Plan for share options were as follows.


	Share Options under the Long-Term
	Incentive Plan
		Wtd. Average
	Options	Exercise Price (USD)
June 30, 2023	—	—
forfeited	—	N/A
granted	3,597,828	4.00
December 31, 2023	3,597,828	4.00

June 30, 2024	3,309,066	4.00
exercised	(6,508)	4.00
granted	3,277,477	5.07
December 31, 2024	6,580,035	4.53

The range of exercise prices for the share options outstanding as of December 31, 2024 is between 4.00 USD and 5.07 USD. The average remaining contractual life is 9 years.

Financial instruments and financial risk management

6 Months Ended

Dec. 31, 2024

Financial instruments and financial risk management

Financial instruments and financial risk management

15.Financial instruments and financial risk management

Additional disclosures on financial instruments

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. The table excludes fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount reasonably approximates fair value.

Financial instruments as of June 30, 2024 were as follows:


	Year ended June 30, 2024
		Categories	Category in		Fair value
	Carrying	outside of	accordance	Fair	hierarchy
(in € thousands)	amount	IFRS 9	with IFRS 9	value	level
Financial assets
Non-current financial assets
Non-current deposits	1,431	—	Amortized cost	—	—
Current financial assets
Trade and other receivables	11,819	—	Amortized cost	—	—
Cash and cash equivalents	15,107	—	Amortized cost	—	—
Other assets	45,306	22,265
thereof deposits	152	—	Amortized cost	—	—
thereof other financial assets	22,889	—	Amortized cost	—	—
Financial liabilities
Non-current financial liabilities
Lease liabilities	40,483	40,483	N/A	—	—
Current financial liabilities
Lease liabilities	9,282	9,282	N/A	—	—
Trade and other payables	85,322	—	Amortized cost	—	—
Other liabilities	95,235	74,171
thereof other financial liabilities	21,064	—	Amortized cost	—	—

Financial instruments as of December 31, 2024 were as follows:


	December 31, 2024
		Categories	Category in		Fair value
	Carrying	outside of	accordance	Fair	hierarchy
(in € thousands)	amount	IFRS 9	with IFRS 9	value	level
Financial assets
Non-current financial assets
Non-current deposits	1,593	—	Amortized cost	—	—
Current financial assets
Trade and other receivables	9,387	—	Amortized cost	—	—
Cash and cash equivalents	13,836	—	Amortized cost	—	—
Other assets	33,983	18,214		—	—
thereof deposits	31	—	Amortized cost	—	—
thereof derivatives (hedge accounting)	73		N/A	73	Level 2
thereof other financial assets	15,665	—	Amortized cost	—	—
Financial liabilities
Non-current financial liabilities
Lease liabilities	38,795	38,795	N/A	—	—
Current financial liabilities
Borrowings	40,594	—	Amortized cost	—	—
Lease liabilities	8,561	8,561	N/A	—	—
Trade and other payables	71,923	—	Amortized cost	—	—
Other liabilities	113,010	92,280
thereof derivatives (hedge accounting)	3,251		N/A	3,251	Level 2
thereof other financial liabilities	17,480	—	Amortized cost	—	—

Foreign exchange forwards are valued according to their present value of future cash flows based on forward exchange rates at the balance sheet date. The fair values of these instruments are also considered as level 2 fair values.

There were no transfers between the different levels of the fair value hierarchy as of June 30, 2024 and December 31, 2024. Mytheresa Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.

As Mytheresa Group does not meet the criteria for offsetting, no financial instruments are netted.

As of December 31, 2024, Mytheresa Group has recorded €2,291 thousand in negative net cash flow hedge reserve. Had hedge accounting not been applied, the amount would have been recorded in profit or loss immediately. The remaining portion of other comprehensive income is related to translation differences of balance sheet items denominated in foreign currencies in prior periods. For more details please refer to Mytheresa Group’s annual consolidated financial statements for the fiscal year 2024.

Business combinations

6 Months Ended

Dec. 31, 2024

Business combinations

Business combinations

16.Business combinations

Pending acquisition of YNAP

On October 7, 2024, the Company (Mytheresa) and Richemont Italia Holding S.P.A signed an agreement for Mytheresa to acquire 100% of YOOX Net-a-Porter Group S.p.A (“YNAP”). Under the terms of the agreement:

●

Richemont Italia Holding S.P.A will sell YNAP to Mytheresa with a cash position of €555 million and no financial debt, subject to customary closing adjustments.

●

Mytheresa will issue shares to Richemont Italia Holding S.P.A representing 33% of Mytheresa’s fully diluted share capital as consideration for the transaction.

●

Richemont International Holding S.A. will provide YNAP with a 6-year €100 million revolving credit facility (RCF) to support its operations.

●

The transaction remains subject to regulatory approvals and other customary closing conditions, and the parties expect to complete the acquisition in the 1^st half of calendar year 2025.

Segment information (Tables)

6 Months Ended

Dec. 31, 2024

Segment information

Schedule of reconciliation of segment EBITDA to consolidated net income


	Three months ended December 31, 2023
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽¹⁾	IFRS consolidated
Net sales	192,832	3,798	196,630	—	196,630
Segment EBITDA	10,312	1,232	11,544	(12,479)	(935)
Depreciation and amortization					(3,842)
Finance costs, net					(1,197)
Income tax benefit					161
Net loss					(5,813)


	Six months ended December 31, 2023
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽¹⁾	IFRS consolidated
Net sales	376,425	7,671	384,096	—	384,096
Segment EBITDA	11,292	2,599	13,892	(24,903)	(11,011)
Depreciation and amortization					(7,238)
Finance costs, net					(2,205)
Income tax benefit					2,468
Net loss					(17,987)


	Three months ended December 31, 2024
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽²⁾	IFRS consolidated
Net sales	218,911	4,074	222,985	—	222,985
Segment EBITDA	20,450	1,387	21,837	(20,451)	1,386
Depreciation and amortization					(3,929)
Finance costs, net					(1,953)
Income tax benefit					(193)
Net loss					(4,689)


	Six months ended December 31, 2024
(in € thousands)	Online	Retail Stores	Segments total	Reconciliation⁽²⁾	IFRS consolidated
Net sales	416,927	7,759	424,685	—	424,685
Segment EBITDA	25,800	2,461	28,261	(49,784)	(21,523)
Depreciation and amortization					(11,057)
Finance costs, net					(3,174)
Income tax benefit					7,542
Net loss					(28,211)

(1)

During the three and six months ended December 31, 2023, there were €4,012 thousand and €7,515 thousand in corporate administrative expenses that were not assigned to either the online operations or retail stores. Additionally, there were €3,609 thousand and €6,051 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €4,857 thousand and €11,336 thousand.

(2)

During the three and six months ended December 31, 2024, there were €5,659 thousand and €9,159 thousand in corporate administrative expenses that were not assigned to either the online operations or retail stores. Additionally, there were €9,645 thousand and €30,983 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €5,147 thousand and €9,642 thousand.

Net sales and geographic information (Tables)

6 Months Ended

Dec. 31, 2024

Net sales and geographic information

Schedule of net sales by geographic location


	For the three months ended December 31,
(in € thousands)	2023			2024
Germany	32,955	16.8	%	31,686	14.2	%
United States	39,110	19.9	%	45,979	20.6	%
Europe (excluding Germany) ^(*)	76,450	38.9	%	91,736	41.1	%
Rest of the world	48,115	24.5	%	53,583	24.0	%
	196,630	100.0	%	222,985	100.0	%


	For the six months ended December 31,
(in € thousands)	2023			2024
Germany	61,956	16.1	%	59,238	13.9	%
United States	75,253	19.6	%	87,025	20.5	%
Europe (excluding Germany) ^(*)	151,905	39.5	%	178,830	42.1	%
Rest of the world	94,982	24.7	%	99,591	23.5	%
	384,096	100.0	%	424,685	100.0	%

(1)No individual country other than Germany and the United States accounted for more than 10% of net sales.

(*)Including United Kingdom.

Cost of sales, exclusive of depreciation and amortization (Tables)

6 Months Ended

Dec. 31, 2024

Cost of sales, exclusive of depreciation and amortization.

Schedule of inventory write-downs


	Three Months Ended December 31,		Six Months Ended December 31,
(in € thousands)	2023	2024	2023	2024
Inventory write-downs	(716)	(1,751)	(4,542)	(5,335)

Finance costs, net (Tables)

6 Months Ended

Dec. 31, 2024

Finance costs, net

Schedule of finance expense, net


	Three Months Ended December 31,		Six Months Ended December 31,
(in € thousands)	2023	2024	2023	2024
Interest expenses on revolving credit facilities	(446)	(1,227)	(701)	(1,820)
Interest expenses on leases	(752)	(675)	(1,505)	(1,354)
Total finance costs	(1,197)	(1,953)	(2,206)	(3,174)

Other interest income	—	—	1	—
Total finance income	—	—	1	—
Finance costs, net	(1,197)	(1,953)	(2,205)	(3,174)

Income taxes (Tables)

6 Months Ended

Dec. 31, 2024

Income taxes

Schedule of income tax expense


	Three Months Ended December 31,				Six Months Ended December 31,
(in %)	2023		2024		2023		2024
Effective tax rate	2.7	%	(4.3)	%	12.1	%	21.1	%

Other assets (Tables)

6 Months Ended

Dec. 31, 2024

Other assets

Schedule of other assets and other non-current assets

Details of other assets consist of the following:


(in € thousands)	June 30, 2024	December 31, 2024
Right of return assets	13,205	9,658
Current VAT receivables	—	968
Prepaid expenses	4,233	3,361
Receivables against payment service providers	1,086	1,123
Advanced payments	2,582	1,984
Deposits	152	31
DDP duty drawbacks ⁽¹⁾	14,352	8,463
Other current assets ⁽²⁾	9,696	8,396
	45,306	33,983

(1)	The position is related to DDP duty drawbacks for international customs.

(2)	Other current assets consist mostly of creditors with debit balances.


(in € thousands)	June 30, 2024	December 31, 2024
Other non-current receivables	29	1
Non-current deposits	1,431	1,593
Non-current prepaid expenses ⁽¹⁾	6,112	6,136
	7,572	7,730

(1)	This amount relates mostly to prepayments made to Climate Partner, an organization that invests in certain Gold Standard Projects, to offset our carbon emissions and reduce our overall carbon footprint.

Share-based compensation (Tables)

6 Months Ended

Dec. 31, 2024

Share-based payments

Summary of capital reserve related to stock options and restricted stock awards


	Six Months Ended
	December 31,
(in € thousands)	2023	2024
Classified within capital reserve (beginning of year)	158,453	175,591
Expense related to:	11,336	9,576
Share Options (Alignment Grant)	8,790	3,787
Share Options (LTI)	478	1,805
Restricted Shares	—	181
Restricted Share Units	2,068	3,803
Classified within capital reserve (end of year)	169,789	185,167

IPO Related One-Time Award Package

Share-based payments

Summary of main features of share-based compensation arrangement


Type of arrangement	Alignment Award	Restoration Award
Type of Award	Share Options	Phantom Shares
Date of first grant	January 20, 2021	January 20, 2021
Number granted	6,478,761	1,875,677
Vesting conditions	25% graded vesting of the granted share options in each of the next four years of service from grant date	The restoration awards are fully vested on the Grant Date.

Alignment Award

Share-based payments

Summary of inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans


Black Scholes Model - Weighted Average Values	Tranche I			Tranche II			Tranche III
Weighted average fair value	$	25.42		$	22.93		$	20.68
Exercise price	$	5.79		$	8.68		$	11.58
Weighted average share price	$	31.00		$	31.00		$	31.00
Expected volatility		60	%		60	%		60	%
Expected life		2.32	years		2.32	years		2.32	years
Risk free rate		0.0	%		0.0	%		0.0	%
Expected dividends		—			—			—

Summary of number and weighted-average exercise prices of share options


	Alignment award
		Wtd. Average
	Options	Exercise Price (USD)
June 30, 2023	6,197,415	8.55
forfeited	—	N/A
exercised	—	N/A
December 31, 2023	6,197,415	8.55

June 30, 2024	6,063,090	8.57
forfeited	(21,165)	11.58
exercised	—	N/A
December 31, 2024	6,041,925	8.56

Supervisory Board Award (Restricted Shares)

Share-based payments

Summary of main features of share-based compensation arrangement


Type of arrangement	Supervisory Board Members plan
Type of Award	Restricted Shares / Restricted Share Units
Date of first grant	May 8, 2023	September 5, 2023	November 8, 2023
Number granted	67,264	11,478	149,147
Vesting conditions	The restricted share Units vested in full on May 8, 2024	The restricted share Units are vested in full on September 5, 2024	The restricted share Units are vested in full on November 8, 2024

Long-Term Incentive Plan

Share-based payments

Summary of main features of share-based compensation arrangement


Type of	Key Management Members
arrangement	Long-Term Incentive Plan
Type of Award	Time-vesting RSUs
Service commencement date	July 1, 2021	July 1, 2022	July 1, 2023	July 1, 2024	Oct. 1, 2024
Grant date	July 1, 2021	July 1, 2022	Nov. 8, 2023	July 1, 2024	Oct. 1, 2024
Number granted	62,217	255,754	1,696,022	1,252,241	102,740
Vesting conditions	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Graded vesting of 1/3 of the time vesting RSUs over the next three years.	Vest in full on July 1, 2025

Type of

Key Management Members

arrangement

Long-Term Incentive Plan

Type of Award

Non-market performance RSUs

Stock options

Service commencement date

July 1, 2021

July 1, 2022

July 1, 2023

July 1, 2024

July 1, 2023

July 1, 2024

Grant date

July 1, 2021

July 1, 2022

Nov. 8, 2023

July 1, 2024

Various dates¹

July 1, 2024

Number granted

108,947

418,352

1,417,103

1,043,193

3,605,301

3,277,477

Vesting conditions

3 year’s services from grant date and achievement of a certain level of cumulative gross profit.

3 year’s services from service commencement date and achievement of a certain level of cumulative GMV growth and adjusted EBITDA margin.

Graded vesting of 1/3 of the granted share options in each of the next three years of service from service commencement date.

(1)	The award is composed of 2 separate grants: 2,923,280 options granted and approved on November 8, 2023 and additional 682,021 options granted on December 15, 2023. Both grants are part of the same award and subject to the same conditions.

Summary of inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans


	Grant date			Grant date			Grant date
Black Scholes Model - Weighted Average Values	November 8, 2023			December 15, 2023			July 1, 2024
Weighted average fair value	$	0.64		$	0.65		$	1.82
Exercise price	$	4.00		$	4.00		$	5.07
Weighted average share price	$	3.41		$	3.55		$	5.07
Expected volatility		45.83	%		45.32	%		64.47	%
Expected life		1.65	years		1.55	years		1.97	years
Risk free rate		3.00	%		2.37	%		2.88	%
Expected dividends		—			—			—

Summary of number and weighted-average exercise prices of share options


	Share Options under the Long-Term
	Incentive Plan
		Wtd. Average
	Options	Exercise Price (USD)
June 30, 2023	—	—
forfeited	—	N/A
granted	3,597,828	4.00
December 31, 2023	3,597,828	4.00

June 30, 2024	3,309,066	4.00
exercised	(6,508)	4.00
granted	3,277,477	5.07
December 31, 2024	6,580,035	4.53

Financial instruments and financial risk management (Tables)

6 Months Ended

Dec. 31, 2024

Financial instruments and financial risk management

Summary of financial instruments


	Year ended June 30, 2024
		Categories	Category in		Fair value
	Carrying	outside of	accordance	Fair	hierarchy
(in € thousands)	amount	IFRS 9	with IFRS 9	value	level
Financial assets
Non-current financial assets
Non-current deposits	1,431	—	Amortized cost	—	—
Current financial assets
Trade and other receivables	11,819	—	Amortized cost	—	—
Cash and cash equivalents	15,107	—	Amortized cost	—	—
Other assets	45,306	22,265
thereof deposits	152	—	Amortized cost	—	—
thereof other financial assets	22,889	—	Amortized cost	—	—
Financial liabilities
Non-current financial liabilities
Lease liabilities	40,483	40,483	N/A	—	—
Current financial liabilities
Lease liabilities	9,282	9,282	N/A	—	—
Trade and other payables	85,322	—	Amortized cost	—	—
Other liabilities	95,235	74,171
thereof other financial liabilities	21,064	—	Amortized cost	—	—

Financial instruments as of December 31, 2024 were as follows:


	December 31, 2024
		Categories	Category in		Fair value
	Carrying	outside of	accordance	Fair	hierarchy
(in € thousands)	amount	IFRS 9	with IFRS 9	value	level
Financial assets
Non-current financial assets
Non-current deposits	1,593	—	Amortized cost	—	—
Current financial assets
Trade and other receivables	9,387	—	Amortized cost	—	—
Cash and cash equivalents	13,836	—	Amortized cost	—	—
Other assets	33,983	18,214		—	—
thereof deposits	31	—	Amortized cost	—	—
thereof derivatives (hedge accounting)	73		N/A	73	Level 2
thereof other financial assets	15,665	—	Amortized cost	—	—
Financial liabilities
Non-current financial liabilities
Lease liabilities	38,795	38,795	N/A	—	—
Current financial liabilities
Borrowings	40,594	—	Amortized cost	—	—
Lease liabilities	8,561	8,561	N/A	—	—
Trade and other payables	71,923	—	Amortized cost	—	—
Other liabilities	113,010	92,280
thereof derivatives (hedge accounting)	3,251		N/A	3,251	Level 2
thereof other financial liabilities	17,480	—	Amortized cost	—	—

Corporate information (Details)	6 Months Ended
Corporate information (Details)	Dec. 31, 2024
MYT Holding LLC \| MYT Netherlands Parent B.V.
Disclosure of transactions between related parties
Percentage of ownership	77.50%

Revision of comparative figures - Consolidated statement of profit or loss and OCI (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Correction of Errors
Gross profit	€ 113,585	€ 97,935	€ 202,219	€ 177,423
Net sales	222,985	196,630	424,685	384,096
Operating income	(2,543)	(4,777)	(32,580)	(18,249)
Net loss	(4,689)	(5,813)	(28,211)	(17,987)
Comprehensive loss	€ (7,679)	€ (4,717)	€ (30,484)	€ (18,160)
Effective tax rate	(4.30%)	2.70%	21.10%	12.10%
Restated adjustments
Correction of Errors
Gross profit		€ (399)		€ (711)
Net sales		(399)		(711)
Operating income		(399)		(711)
Net loss		(399)		(711)
Comprehensive loss		€ (399)		€ (711)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revision of comparative figures - Consolidated statements of changes in Equity and Cashflow (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Correction of Errors
Equity	€ 414,736	€ 436,604	€ 414,736	€ 436,604	€ 435,643	€ 443,429
Net loss	(4,689)	(5,813)	(28,211)	(17,987)
(Decrease) increase in contract liabilities			(185)	1,205
Accumulated deficit
Correction of Errors
Equity	€ (140,978)	(105,843)	(140,978)	(105,843)	€ (112,767)	(87,856)
Net loss			€ (28,211)	(17,987)
Restated adjustments
Correction of Errors
Equity		(4,713)		(4,713)		(4,002)
Net loss		(399)		(711)
(Decrease) increase in contract liabilities				711
Restated adjustments \| Accumulated deficit
Correction of Errors
Equity		€ (4,713)		€ (4,713)		€ (4,002)

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment information (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
Segment information (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment information
Net sales	€ 222,985	€ 196,630	€ 424,685	€ 384,096
Segment EBITDA	1,386	(935)	(21,523)	(11,011)
Depreciation and amortization	(3,929)	(3,842)	(11,057)	(7,238)
Finance income (costs), net	(1,953)	(1,197)	(3,174)	(2,205)
Income tax (expense) benefit	(193)	161	7,542	2,468
Net loss	(4,689)	(5,813)	(28,211)	(17,987)
Operating segments
Segment information
Net sales	222,985	196,630	424,685	384,096
Segment EBITDA	21,837	11,544	28,261	13,892
Operating segments \| Online
Segment information
Net sales	218,911	192,832	416,927	376,425
Segment EBITDA	20,450	10,312	25,800	11,292
Operating segments \| Retail Store
Segment information
Net sales	4,074	3,798	7,759	7,671
Segment EBITDA	1,387	1,232	2,461	2,599
Reconciliation
Segment information
Segment EBITDA	(20,451)	(12,479)	(49,784)	(24,903)
Corporate administrative expenses	5,659	4,012	9,159	7,515
Other transaction-related, certain legal and other expenses	9,645	3,609	30,983	6,051
IPO related Share-based compensation expenses	€ 5,147	€ 4,857	€ 9,642	€ 11,336

Net sales and geographic information (Details) € in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2024 EUR (€) country store customer	Dec. 31, 2023 EUR (€)
Income tax expense
Net sales	€ 222,985	€ 196,630	€ 424,685	€ 384,096
Percentage of net sales	100.00%	100.00%	100.00%	100.00%
Number of countries excluding Germany and the United States where net sales exceeds 10% \| country			0
Number of individual customers exceeding 10% of net sales \| customer			0
Increase (decrease) in net sales from application of hedge accounting	€ (939)	€ (285)	€ (752)	€ (310)
Maximum \| Rendering of services
Income tax expense
Percentage of net sales			10.00%
Germany
Income tax expense
Net sales	€ 31,686	€ 32,955	€ 59,238	€ 61,956
Percentage of net sales	14.20%	16.80%	13.90%	16.10%
United States
Income tax expense
Net sales	€ 45,979	€ 39,110	€ 87,025	€ 75,253
Percentage of net sales	20.60%	19.90%	20.50%	19.60%
Europe (excluding Germany)
Income tax expense
Net sales	€ 91,736	€ 76,450	€ 178,830	€ 151,905
Percentage of net sales	41.10%	38.90%	42.10%	39.50%
Rest of the world
Income tax expense
Net sales	€ 53,583	€ 48,115	€ 99,591	€ 94,982
Percentage of net sales	24.00%	24.50%	23.50%	24.70%
Germany
Income tax expense
Number of retail stores \| store			2

Cost of sales, exclusive of depreciation and amortization (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Cost of sales, exclusive of depreciation and amortization.
Inventory write-downs	€ (1,751)	€ (716)	€ (5,335)	€ (4,542)

Finance costs, net (Details) - EUR (€) € in Thousands	3 Months Ended		6 Months Ended
Finance costs, net (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Finance costs
Total finance costs	€ (1,953)	€ (1,197)	€ (3,174)	€ (2,206)
Finance income
Other interest income				1
Total finance income				1
Finance costs, net	(1,953)	(1,197)	(3,174)	(2,205)
Revolving credit facility
Finance costs
Interest expense	(1,227)	(446)	(1,820)	(701)
Finance income
Borrowings	40,600		40,600
Amount of borrowings used as guarantees	8,300		8,300
Notional amount	75,000		75,000
Leases
Finance costs
Interest expense	€ (675)	€ (752)	€ (1,354)	€ (1,505)

Income taxes - Tax rates (Details)	3 Months Ended		6 Months Ended
Income taxes - Tax rates (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income taxes
Effective tax rate	(4.30%)	2.70%	21.10%	12.10%

Property and equipment (Details) - EUR (€) € in Thousands	6 Months Ended
Property and equipment (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property and equipment, net
Property and equipment	€ 38,901	€ 43,653
Decrease in property and equipment	(4,752)
Property, plant and equipment utilized in the Heimstetten distribution center
Property and equipment, net
Impairment loss	3,100
Recoverable amount	€ 0

Other assets - Other current assets (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Jun. 30, 2024
Other assets
Right of return assets	€ 9,658	€ 13,205
Current VAT receivables	968
Prepaid expenses	3,361	4,233
Receivables from payment service providers	1,123	1,086
Advance payments	1,984	2,582
Deposits	31	152
DDP duty drawbacks	8,463	14,352
Other current assets	8,396	9,696
Total other assets	€ 33,983	€ 45,306

Other assets - Other non-current assets (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Jun. 30, 2024
Other assets
Other non-current receivables	€ 1	€ 29
Non-current deposits	1,593	1,431
Non-current prepaid expenses	6,136	6,112
Total other non-current assets	€ 7,730	€ 7,572

Share-based compensation - IPO Related One-Time Award Package (Details)	Jan. 20, 2021 Options person item $ / shares shares
Post-IPO, Share Options (Alignment Grant)
Share-based payments
Annual vesting percentage	25.00%
Number of shares per option \| shares	1
Exercisable term	10 years
Number of different tranches \| item	3
Number granted \| Options	6,478,761
Number of key management members \| person	21
Weighted average share price \| $ / shares	$ 31
Post-IPO, Phantom Shares (Restoration Grant)
Share-based payments
Number of shares per option \| shares	1
Exercisable term	10 years
Number granted \| Options	1,875,677
Number of key management members \| person	21
Percentage of granted phantom shares that can be transferred after conversion at any time after the second anniversary of the grant date	25.00%
Percentage of granted phantom shares that can be transferred after conversion if certain conditions are met or at the fourth anniversary	75.00%
Weighted average share price \| $ / shares	$ 31

Share-based compensation - Summary of main features of one-time award package (Details)	Jan. 20, 2021 Options
Alignment Award
Share-based payments
Granted	6,478,761
Annual vesting percentage	25.00%
Post-IPO, Phantom Shares (Restoration Grant)
Share-based payments
Granted	1,875,677

Share-based compensation - Other One-Time Award Package (Details) - Supervisory Board Award (Restricted Shares)	Nov. 08, 2023 USD ($) EquityInstruments item	Sep. 05, 2023 USD ($) EquityInstruments item	May 08, 2023 USD ($) EquityInstruments item
Share-based payments
Grant date fair value \| $	$ 3.52	$ 3.63	$ 4.46
Number of Supervisory Board Members that have been granted awards \| item	5	1	4
Number granted \| EquityInstruments	149,147	11,478	67,264

Share-based compensation - Annual Plan (Details) $ / shares in Units, € in Thousands																			1 Months Ended		6 Months Ended
	Oct. 01, 2024 USD ($) Options EquityInstruments	Jul. 01, 2024 USD ($) shares	Jul. 01, 2024 USD ($) shares	Jul. 01, 2024 USD ($) Options shares	Jul. 01, 2024 USD ($) EquityInstruments shares	Jul. 01, 2024 USD ($) $ / shares shares	May 17, 2024 EUR (€) shares	Dec. 15, 2023 USD ($) shares	Dec. 15, 2023 USD ($) item shares	Dec. 15, 2023 USD ($) Options shares	Dec. 15, 2023 USD ($) EquityInstruments shares	Dec. 15, 2023 USD ($) $ / shares shares	Nov. 08, 2023 USD ($) EquityInstruments Options $ / shares	Jul. 01, 2023 EquityInstruments item $ / shares shares	May 29, 2023 EUR (€) shares	Jul. 01, 2022 USD ($) EquityInstruments	Jul. 01, 2021 USD ($) EquityInstruments	Jan. 20, 2021 USD ($) Options shares	Jul. 31, 2024	Dec. 15, 2023 USD ($) Options shares	Dec. 31, 2024 EUR (€) Options	Dec. 31, 2023 EUR (€) Options	Dec. 31, 2024 $ / shares	May 17, 2024 USD ($)	May 29, 2023 USD ($)
Share-based payments
Expense booked to equity \| €																					€ 9,642	€ 11,336
Employee share purchase program
Share-based payments
Number of units granted \| shares							13,149								29,641
Discount as a percentage of investment by the participant															25.00%
Percentage of increase in shares issued for implementation of discount															33.33%
Number of ADSs issued for the price of one ADS															1.33
Expense booked to equity \| €							€ 18								€ 28
Grant date fair value																								$ 6.00	$ 4.00
Post-IPO, Phantom Shares (Restoration Grant)
Share-based payments
Number of shares per option \| shares																		1
Granted \| Options																		1,875,677
Vested options term																		10 years
Grant date fair value																		$ 31
Long-Term Incentive Plan
Share-based payments
Grant date fair value	$ 3.65	$ 5.07	$ 5.07	$ 5.07	$ 5.07	$ 5.07							$ 3.41			$ 9.68
Number of units granted \| EquityInstruments					2,295,434								3,113,125			674,106	171,164
Granted \| Options																					3,277,477	3,597,828
Grant date fair value		$ 1.82	$ 1.82	$ 1.82	$ 1.82	$ 1.82		$ 0.65	$ 0.65	$ 0.65	$ 0.65	$ 0.65	$ 0.64							$ 0.65
Exercise price \| $ / shares						$ 5.07						$ 4.00	$ 4.00
Long-Term Incentive Plan \| Grant date fair value of 30.68 USD
Share-based payments
Grant date fair value																	$ 30.68
Number of units granted \| EquityInstruments																	170,221
Long-Term Incentive Plan \| Grant date fair value of 22.38 USD
Share-based payments
Grant date fair value																	$ 22.38
Number of units granted \| EquityInstruments																	943
Time-vesting RSUs
Share-based payments
Number of units granted \| EquityInstruments	102,740				1,252,241								1,696,022			255,754	62,217
Percentage of awards vesting annually		33.33%	33.33%	33.33%	33.33%	33.33%							33.33%			33.33%	33.33%
Vesting period													3 years			3 years	3 years		3 years
Granted \| Options	102,740			1,252,241
Non-Market Performance RSUs
Share-based payments
Number of units granted \| EquityInstruments					1,043,193								1,417,103			418,352	108,947
Vesting period		3 years											3 years			3 years	3 years
Duration of gross profit		3 years											3 years			3 years	3 years
Stock options under long-term incentive plan
Share-based payments
Percentage of awards vesting annually		33.33%	33.33%	33.33%	33.33%	33.33%		33.33%	33.33%	33.33%	33.33%	33.33%		33.33%						33.33%
Vesting period		3 years																		3 years
Number of shares per option \| shares		1	1	1	1	1		1	1	1	1	1		1						1
Number of different tranches \| item									3					3
Granted				3,277,477	3,277,477					682,021	682,021		2,923,280	2,923,280						3,605,301
Vested options term		10 years						10 years						10 years
Exercise price \| $ / shares						$ 5.07						$ 4.00		$ 4.00
Minimum \| Long-Term Incentive Plan
Share-based payments
Exercise prices for share options outstanding \| $ / shares																							$ 4.00
Minimum \| Non-Market Performance RSUs
Share-based payments
Potential award level of grant, depending on achievement of gross profit			25.00%										25.00%			25.00%	25.00%
Maximum \| Long-Term Incentive Plan
Share-based payments
Exercise prices for share options outstanding \| $ / shares																							$ 5.07
Maximum \| Non-Market Performance RSUs
Share-based payments
Potential award level of grant, depending on achievement of gross profit			200.00%										200.00%			200.00%	200.00%

Share-based compensation - Measurement of the fair values at grant date of the equity-settled share-based payment plans (Details)	Jul. 01, 2024 USD ($) Y $ / shares	Dec. 15, 2023 USD ($) Y $ / shares	Nov. 08, 2023 USD ($) Y $ / shares	Jan. 20, 2021 USD ($) Y $ / shares
Alignment Award
Share-based payments
Weighted average share price				$ 31
Alignment Award \| Tranche I
Share-based payments
Weighted average fair value \| $				$ 25.42
Exercise price				$ 5.79
Weighted average share price				$ 31.00
Expected volatility				60.00%
Expected life \| Y				2.32
Risk free rate				0.00%
Alignment Award \| Tranche II
Share-based payments
Weighted average fair value \| $				$ 22.93
Exercise price				$ 8.68
Weighted average share price				$ 31.00
Expected volatility				60.00%
Expected life \| Y				2.32
Risk free rate				0.00%
Alignment Award \| Tranche III
Share-based payments
Weighted average fair value \| $				$ 20.68
Exercise price				$ 11.58
Weighted average share price				$ 31.00
Expected volatility				60.00%
Expected life \| Y				2.32
Risk free rate				0.00%
Long-Term Incentive Plan
Share-based payments
Weighted average fair value \| $	$ 1.82	$ 0.65	$ 0.64
Exercise price	$ 5.07	$ 4.00	$ 4.00
Weighted average share price	$ 5.07	$ 3.55	$ 3.41
Expected volatility	64.47%	45.32%	45.83%
Expected life \| Y	1.97	1.55	1.65
Risk free rate	2.88%	2.37%	3.00%

Share-based compensation - Share-based compensation expense recognized (Details) - EUR (€) € in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Classified within capital reserve (beginning of period)	€ 175,591	€ 158,453
Share-based compensation expenses	9,576	11,336
Classified within capital reserve (end of period)	€ 185,167	169,789
Number of shares withheld shares to cover tax obligation	13,787
Amount of shares withheld based on the market price	€ 66
Share Options (Alignment Grant)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expenses	€ 3,787	8,790
Average remaining contractual life	6 years 21 days
Restricted Shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expenses	€ 181
Restricted Shares Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expenses	€ 3,803	€ 2,068

Share-based compensation - Reconciliation of outstanding share options (Details) € in Thousands				6 Months Ended
	Jul. 01, 2024 Options $ / shares	Jul. 01, 2023 Options $ / shares	Jan. 20, 2021 Options	Dec. 31, 2024 EUR (€) Options	Dec. 31, 2024 $ / shares	Dec. 31, 2023 EUR (€) Options	Dec. 31, 2023 $ / shares
Weighted Average Exercise Price
Compensation expense \| €				€ 9,576		€ 11,336
Alignment Award
Options
Options outstanding at beginning of period \| Options	6,063,090	6,197,415		6,063,090		6,197,415
forfeited \| Options				(21,165)
Granted \| Options			6,478,761
Options outstanding at end of period \| Options				6,041,925		6,197,415
Weighted Average Exercise Price
Weighted average Exercise price of share options outstanding at beginning of period	$ 8.57	$ 8.55			$ 8.57		$ 8.55
Forfeited (in dollars per share)					11.58
Weighted average Exercise price of share options outstanding at end of period					8.56		8.55
Exercise price for outstanding stock options					8.56		8.55
Compensation expense \| €				€ 3,787		€ 8,790
Average remaining contractual life				6 years 21 days
Long-Term Incentive Plan
Options
Options outstanding at beginning of period \| Options	3,309,066			3,309,066
Granted \| Options				3,277,477		3,597,828
exercised \| Options				(6,508)
Options outstanding at end of period \| Options				6,580,035		3,597,828
Weighted Average Exercise Price
Weighted average Exercise price of share options outstanding at beginning of period	$ 4.00				4.00
Granted (in dollars per share)					5.07		4.00
Exercised (in dollars per share)					4.00
Weighted average Exercise price of share options outstanding at end of period					4.53		4.00
Exercise price for outstanding stock options					4.53		$ 4.00
Compensation expense \| €				€ 1,805		€ 478
Average remaining contractual life				9 years
Minimum \| Alignment Award
Weighted Average Exercise Price
Exercise prices for the share options outstanding					5.79
Minimum \| Long-Term Incentive Plan
Weighted Average Exercise Price
Exercise prices for the share options outstanding					4.00
Maximum \| Alignment Award
Weighted Average Exercise Price
Exercise prices for the share options outstanding					11.58
Maximum \| Long-Term Incentive Plan
Weighted Average Exercise Price
Exercise prices for the share options outstanding					$ 5.07

Financial instruments and financial risk management - Financial instruments summary (Details) - EUR (€) € in Thousands	Dec. 31, 2024	Jun. 30, 2024
Non Current Deposits \| Financial assets, at amortized cost
Financial instruments
Financial assets	€ 1,593	€ 1,431
Trade and other receivables, Current \| Financial assets, at amortized cost
Financial instruments
Financial assets	9,387	11,819
Cash and cash equivalents \| Financial assets, at amortized cost
Financial instruments
Financial assets	13,836	15,107
Other assets, current
Financial instruments
Financial assets	33,983	45,306
Other assets, current \| No category in accordance with IFRS 9
Financial instruments
Financial assets	18,214	22,265
deposits \| Financial assets, at amortized cost
Financial instruments
Financial assets	31	152
Derivatives (Hedge Accounting)
Financial instruments
Financial assets	73
Financial liabilities	3,251
Financial assets, at fair value	73
Financial liabilities, at fair value	3,251
Other financial assets \| Financial assets, at amortized cost
Financial instruments
Financial assets	15,665	22,889
Non-current lease liabilities
Financial instruments
Financial liabilities	38,795	40,483
Non-current lease liabilities \| No category in accordance with IFRS 9
Financial instruments
Financial liabilities	38,795	40,483
Borrowings \| Financial liabilities, at amortized cost
Financial instruments
Financial liabilities	40,594
Current lease liabilities
Financial instruments
Financial liabilities	8,561	9,282
Current lease liabilities \| No category in accordance with IFRS 9
Financial instruments
Financial liabilities	8,561	9,282
Trade and other payables \| Financial liabilities, at amortized cost
Financial instruments
Financial liabilities	71,923	85,322
Other liabilities, Current
Financial instruments
Financial liabilities	113,010	95,235
Other liabilities, Current \| No category in accordance with IFRS 9
Financial instruments
Financial liabilities	92,280	74,171
Other current financial liabilities \| Financial liabilities, at amortized cost
Financial instruments
Financial liabilities	€ 17,480	€ 21,064

Financial instruments and financial risk management (Details) - EUR (€) € in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Financial instruments and financial risk management
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period	€ 0	€ 0
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period	0	0
Transfers into Level 3 of fair value hierarchy, assets	0	0
Transfers out of Level 3 of fair value hierarchy, assets	0	0
Transfers into Level 3 of fair value hierarchy, liabilities	0	0
Transfers out of Level 3 of fair value hierarchy, liabilities	0	0
Transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities held at end of reporting period	0	0
Transfers out of Level 2 into Level 1 of fair value hierarchy, liabilities held at end of reporting period	0	0
Financial liabilities netted against assets	0	0
Financial assets netted again liabilities	0	€ 0
Cash flow hedge reserve	€ (2,291)

Business combinations (Details) - YOOX Net-a-Porter Group S.p.A (YNAP) - Forecast € in Millions	6 Months Ended
	Jun. 30, 2025 EUR (€)
Business combinations
Percentage of voting interests acquired	100.00%
Cash position in acquiree	€ 555
Financial debt in acquiree	€ 0
Percentage of acquirer's fully diluted share capital to be issued to seller as consideration in business combination	33.00%
Duration of revolving credit facility to be provided by seller to acquiree after business combination	6 years
Notional amount of revolving credit facility to be provided by seller to acquiree after business combination	€ 100
Amount of revolving credit facility	€ 0