Consolidated Statements of Profit or Loss and Comprehensive Income or Loss - EUR (€) € in Thousands, shares in Millions |
12 Months Ended | ||||
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Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Consolidated Statements of Profit or Loss and Comprehensive Income or Loss | |||||
| Net sales | € 1,262,277 | € 840,852 | € 766,003 | ||
| Cost of sales, exclusive of depreciation and amortization | (659,019) | (456,320) | (386,027) | ||
| Gross profit | 603,257 | 384,532 | 379,976 | ||
| Shipping and payment cost | (185,763) | (135,547) | (114,785) | ||
| Marketing expenses | (142,784) | (96,708) | (112,001) | ||
| Selling, general and administrative expenses | (284,295) | (159,292) | (147,691) | ||
| Depreciation and amortization | (25,351) | (15,205) | (11,653) | ||
| Other income (loss), net | 613,538 | 267 | (2,527) | ||
| Operating income (loss) | 578,602 | (21,953) | (8,682) | ||
| Finance income | 2,208 | 5 | 358 | ||
| Finance costs | (7,280) | (4,777) | (2,818) | ||
| Finance income (costs), net | (5,072) | (4,772) | (2,460) | ||
| Income (Loss) before income taxes | 573,530 | (26,725) | (11,142) | ||
| Income tax (expense) benefit | (3,570) | 1,814 | (5,877) | ||
| Net (loss) income | 569,959 | (24,911) | (17,019) | ||
| Foreign currency translation | (5,965) | (13) | (19) | ||
| Other comprehensive loss | (5,965) | (13) | (19) | ||
| Comprehensive income (loss) | € 563,994 | € (24,923) | € (17,038) | ||
| Basic earnings (loss) per ordinary share (in euro per share) | € 5.89 | € (0.29) | € (0.2) | ||
| Diluted earnings (loss) per ordinary share (in euro per share) | € 5.65 | € (0.29) | € (0.2) | ||
| Weighted average number of ordinary shares (basic) - in millions | [1] | 96.8 | 86.8 | 86.6 | |
| Weighted average number of ordinary shares (diluted) - in millions | 100.9 | 86.8 | 86.6 | ||
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Consolidated Statements of Profit or Loss and Comprehensive Income or Loss (Parenthetical) |
Jun. 30, 2025
€ / shares
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| Consolidated Statements of Profit or Loss and Comprehensive Income or Loss | |
| Exercise price of contingently issuable shares, per share | € 0 |
Corporate information |
12 Months Ended |
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Jun. 30, 2025 | |
| Corporate information | |
| Corporate information | 1. Corporate information LuxExperience B.V. (the “Company”, together with its subsidiaries, “LuxExperience Group”; until April 30, 2025, MYT Netherlands Parent B.V.) 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 at 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 an operating holding company. Through its subsidiary Mytheresa Group GmbH (“MGG”), LuxExperience Group operates a digital platform for the global luxury fashion consumer, in addition to its flagship retail store and men’s location in Munich. LuxExperience Group started as one of the first multi-brand luxury boutiques in Germany and launched its online business in 2006. LuxExperience 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. On April 23, 2025, the Company acquired 100% shares of YOOX Net-A-Porter Group S.p.A. (“YNAP”) (together with its subsidiaries, “YNAP Group”), pursuant to a Share Purchase Agreement (“SPA”) that was entered into on October 7, 2024 (the “Transaction”). YNAP is an online luxury and fashion retailer, with a distinctive offering including multi-brand in-season online luxury stores NET-A-PORTER and MR PORTER, and multi-brand off-season off-price online stores YOOX and THE OUTNET. The Group has offices and operations in the United States, Europe, Middle East, Japan, mainland China and Hong Kong SAR, China. It delivers to over 170 countries around the world. As of June 30, 2025, 48.6% of the shares of the Company were held by MYT Holding LLC, USA, and 36.4% of the shares of the Company were held by Richemont Italia Holding S.p.A., Italia, a subsidiary of Compagnie Financière Richemont SA. The consolidated financial statements of LuxExperience Group were authorized for issue by the Management and Supervisory Board on October 30, 2025. |
Basis of presentation |
12 Months Ended |
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Jun. 30, 2025 | |
| Basis of presentation | |
| Basis of presentation | 2. Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), taking into account the interpretations of the International Financial Reporting Standards Interpretations Committee (“IFRIC”). The accounting principles set out below, unless stated otherwise, have been applied consistently for all periods presented in the consolidated financial statements. LuxExperience Group’s fiscal year ends June 30. All intercompany transactions are eliminated during the preparation of the consolidated financial statements. The consolidated financial statements have been prepared on a historical cost basis, unless otherwise stated. All amounts presented are rounded to the nearest thousand except when otherwise indicated. Due to rounding, differences may arise when individual amounts or percentages are added together. As a result of the Company’s acquisition of YNAP in fiscal year 2025, the current year financial statements include the results and financial position of the acquired business from the acquisition date. Accordingly, the amounts presented for the fiscal year ended 30 June 2025 are not entirely comparable with those for the fiscal year ended 30 June 2024, which did not include the acquired operations. Further details of the business combination are provided in Note 6 - Business Combinations. The consolidated financial statements are prepared under the assumption that the business will continue as a going concern. Management believes that LuxExperience Group has adequate resources to continue operations for the foreseeable future. |
Functional and presentation currency |
12 Months Ended | ||
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Jun. 30, 2025 | |||
| Functional and presentation currency | |||
| Functional and presentation currency |
The consolidated financial statements are presented in EUR (“EUR”) which is the Group’s functional currency. |
Scope of Consolidation and Summary of Material Accounting Policies |
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| Scope of Consolidation and Summary of Material Accounting Policies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Scope of Consolidation and Summary of Material Accounting Policies | 4. Scope of Consolidation and Summary of Material Accounting Policies 4.1.Scope of consolidation The consolidated financial statements include the accounts and results of the Company and its wholly owned subsidiaries. Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed to, or has the right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control commences until the date on which control ceases. Besides LuxExperience B.V. the following subsidiaries are included in the scope of consolidation:
a)Current versus non-current classification LuxExperience Group classifies assets and liabilities by maturity. They are regarded as current if they mature within one year or within the normal operating business cycle of LuxExperience Group. The normal operating business cycle, which is less than one year, begins with the procurement of inventory and ends with the receipt of cash or cash equivalents as consideration for the sale of inventory. Inventories, trade and other receivables, and trade and other payables are always presented as current items. b)Foreign currency translation LuxExperience Group’s consolidated financial statements are presented in Euro. For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. Functional currency is defined as the currency of the primary economic environment in which each entity operates. The assets and liabilities of entities with a functional currency other than the Euro, are translated into Euro at the exchange rates at the reporting date. The income and expenses of such companies are translated into Euro at the exchange rates at the dates of the transactions. Foreign currency translation differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve. For entities with Euro as their functional currency, transactions denominated in foreign currencies are translated at the exchange rates prevailing on the date of transaction. Balance sheet items denominated in currencies other than Euro, are translated at the closing rate for each reporting period, with resulting translation differences recognized within finance expenses, net. c)Revenue recognition All revenue generated by LuxExperience Group is included within net sales on the consolidated statement of profit or loss and comprehensive income or loss. LuxExperience Group generates revenue primarily from the sale of merchandise shipped to customers. In addition, LuxExperience also recognizes commission revenue for the rendering of services resulting from its Curated Platform Model (CPM), other commission-based services and certain Online Flagship Stores (OFS). Furthermore, LuxExperience generates additional revenue from advertising services, which represent an immaterial portion of total revenues compared to the primary revenue streams described above. Management applies the following five step model when determining the timing and amount of revenue recognition:
All revenues of LuxExperience Group qualify as contracts with customers and fall in the scope of IFRS 15. LuxExperience Group recognizes revenues to reflect the transfer of goods or services to customers at an amount that represents the consideration the entity expects to receive including fixed amounts, variable amounts or both, such as returns, rebates and discounts. Shipping and payment costs consist primarily of shipping fees paid to our delivery providers, packaging costs, delivery duties paid for international sales and payment processing fees paid to third parties. Shipping and payment costs fluctuate based on the number of orders shipped. Retail sales LuxExperience acts as a principal and sells merchandise through its online website as well as physical stores. Revenue is recognized when control of the goods is transferred to the customer, which occurs upon delivery to the customer or point of sale for sales in physical stores. Goods sold for online sales to the customers can in most cases be returned or exchanged within 14 to 30 days of receipt of the goods based on the General Terms and Conditions. For expected returns, LuxExperience Group recognizes a refund liability as a reduction of revenue and a corresponding right of return asset as reduction of cost of sales, based on actual returns as of the date of authorization for issue of the financial statements as well as and expected future return rates that is derived from historical data. Delivery occurs when the products have been shipped to the specific location, the risks of loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or LuxExperience Group has objective evidence that all criteria for acceptance have been satisfied. A contract liability is therefore recognized for products which have been shipped, but delivery to the customer has not yet occurred. The related revenue is recognized when the customer obtains control of the product. A contract liability is also recognized from the sale of gift cards and vouchers. As the entity expects to be entitled to a breakage amount, it recognizes the expected breakage amount as revenue in proportion to the pattern of rights exercised by the customer. The expected breakage is based on historical data adjusted for current expectations. LuxExperience Group assesses all promised goods and services and identified performance obligations at contract inception. Contracts with customers include single performance obligation, for example, the sale of a distinct bundle of goods, including related activities to provide these goods and services (packaging, shipping, credit card processing, settlement of duties and other transaction processing activities). As these related activities are not distinct performance obligations, revenue for these services is recognized concurrently with the delivery of the product. No element of financing is deemed present as sales require immediate upfront payment from the customer, and satisfaction of the performance obligation is within a short period of time, which is consistent with market practice. Variable consideration might occur in form of promotional discounts, discounts and right of returns or return vouchers. LuxExperience Group includes variable consideration estimated in accordance with IFRS 15.53 in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. As the contracts include only a single performance obligation, the transaction price is allocated to that performance obligation. Commission sales This revenue stream is related to the sale of goods which are stored in LuxExperience’s warehouses but not owned by LuxExperience as a transfer of ownership to LuxExperience does not happen (e.g. the Curated Platform Model (CPM), which provides sellers (brand partners) the ability to sell their goods to customers on the Mytheresa platform.) In this case, LuxExperience generates a commission fee (normally a percentage of the selling price), which is based on agreements with brand partners. LuxExperience’s performance obligation with respect to these transactions is to arrange the transaction through its online platform and to provide related services, which include shipping and payment-related activities. Those are not considered separate promises to the end customer and therefore the revenue recognition of the related fees occurs concurrently with the commission which is when goods are delivered to the end customer. However, the Group does not obtain control over the goods in advance of transferring the goods to the end customer and does not have any discretion in setting the price of the goods to be sold, nor does it bear the inventory risk for the goods to be shipped to the customer. As such, the Group is considered to be an agent in these transactions and recognizes revenue on a net basis for the agreed upon commission at the point in time when the goods are delivered to the end customer. For expected returns, LuxExperience Group recognizes a refund liability for commissions that will be refunded upon return of the goods. d)Intangible assets and goodwill LuxExperience Group’s intangible assets and goodwill primarily result from the acquisition of the Mytheresa operations by Mytheresa Group GmbH (“MGG”) in 2014. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any. The useful life of intangible assets is assessed as either finite or indefinite. Intangible assets with a finite useful life Intangible assets with a finite useful life consist of licenses and software. Development costs for internally generated intangible assets are only capitalized if the recognition criteria in IAS 38 are met. Intangible assets with a finite life are amortized over their estimated useful economic life on a straight-line basis and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method of intangible assets with a finite useful life are reviewed at least annually, with any changes treated as changes in accounting estimates. Changes in the expected useful life or the expected pattern of consumption of the assets’ future economic benefits are considered when assessing the amortization method and useful life of the asset. Amortization expense on intangible assets with finite lives is recognized in the consolidated statement of profit or loss and comprehensive income or loss within depreciation and amortization. The estimated useful life of licenses is based on the contractual term period and for software is typically three years. Intangible asset with indefinite life LuxExperience Group recognizes trademarks intangible assets for Mytheresa brand names. As the trademarks are core to the business and as there is no foreseeable limit to the future cash flows generated by the intangible asset, trademarks are assessed as indefinitely lived. LuxExperience Group assesses trademarks for impairment and potential changes in useful life annually in the fourth fiscal quarter, or when an event becomes known that may trigger impairment. Goodwill LuxExperience Group’s goodwill originated from the MGG acquisition in 2014 and represents the difference between the purchase price and the net identifiable assets acquired. Goodwill is not amortized but reviewed for impairment at least annually. LuxExperience Group consists of cash-generating units (“CGUs”), which represent the lowest level at which goodwill is monitored for internal management purposes. Any potential impairment of goodwill is identified by comparing the recoverable amount of a CGU to its carrying value. Goodwill is reduced by the amount of impairment, if any. If the impairment exceeds the carrying amount of goodwill, the carrying values of the remaining assets in the CGU are reduced by the excess on a pro-rata basis. The Company tests goodwill for impairment annually in the fourth fiscal quarter of the year, or when an event becomes known that may trigger impairment. e)Property and equipment Property and equipment is stated at historical cost, net of accumulated depreciation and accumulated impairment losses, if any. Historical cost includes any expenditures that are directly attributable to the acquisition of the asset, including costs incurred to prepare the asset for its intended use. Property and equipment is depreciated on a straightline basis over each asset’s expected useful life. When significant parts of a fixed asset have different useful lives, they are accounted for as separate components and depreciated separately. Depreciation methods, useful lives and residual values are reviewed at least annually and adjusted prospectively, if appropriate. LuxExperience Group applies the following useful lives when estimating depreciation of property and equipment, net:
Construction in progress are being capitalized but not depreciated yet. If a leasehold improvement is expected to be in use after the expected expiration date of its associated lease, then it is depreciated over its estimated useful life. All repair and maintenance costs are expensed when incurred. LuxExperience Group assesses property and equipment, net for impairment whenever there is an indication of potential impairment. f)Leases The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at inception. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. LuxExperience Group assesses at the inception of the contract whether the contract is or contains a lease. LuxExperience Group’s leases consist of real estate,company cars and equipment. Lease terms are negotiated on an individual basis and may contain a range of different terms and conditions. Lease contracts may be negotiated for fixed periods or include extension options. To determine the lease terms, all facts and circumstances which offer economic incentives to exercise extension options are included. If it is reasonably certain that a lease term will be extended, the related extension option is included. The lease terms include fixed payments as well as variable payments that depend on an index. Extension options are included in the determination of the lease liability to the extent that it is reasonably certain that those options will be exercised by LuxExperience Group. Management of LuxExperience Group reviews forecasts, planned growth and facility capacity when determining whether an extension option is reasonably certain to be exercised. The lease liability is subsequently measured as the present value of the expected lease payments. To determine the present value, LuxExperience Group discounts the remaining lease payments with the incremental borrowing rate of the lessee. The incremental borrowing rate is the interest rate that LuxExperience Group would be required to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset as the underlying lease agreement in a similar economic environment. LuxExperience Group applied incremental borrowing rates between 0.96% and 7.5% for the periods presented. Right-of-use assets are measured at cost at the date of lease commencement. The cost is comprised of the initial lease liability measurement and any lease payments made before the commencement date, less any lease incentives received and estimated cost of dismantling and removing the underlying asset incurred by the lessee. After the commencement date, LuxExperience Group measures right-of-use assets at cost less accumulated depreciation and any accumulated impairment losses. For subsequent measurement, the carrying amount of the lease liability is increased to reflect the interest on the lease liability and reduced to reflect the lease payments made. The finance expenses associated with the lease term are recognized in the consolidated statement of profit or loss and comprehensive income or loss over the lease term. To date, no impairment losses have been identified on LuxExperience Group’s right-of-use assets. LuxExperience Group elected to apply the exemptions for short-term leases and low-value leases in accordance with IFRS 16. Short-term leases are leases with a duration of 12 months or less from the date of the inception. Low value leases are leases of equipment with contract amounts below EUR 10 thousand. Lease payments associated with short-term leases or low value leases are expensed on a straight-line basis over the lease term. Accordingly, no right-of-use assets or lease liabilities are recognized for short-term leases or low value leases. g)Inventories and Cost of Sales Inventories are measured at the lower of cost and net realizable value. The cost of inventories in the Luxury | Mytheresa and Luxury | NAP & MRP segments is determined using the weighted average cost method. Within the Off-Price | YOOX & THE OUTNET segment, inventories of the Outnet are also measured using the weighted average cost method, while inventories of YOOX are measured using the retail inventory method. Under the retail inventory method, cost is determined by applying a cost-to-retail percentage across groupings of similar items, which are defined as individual purchases from suppliers and purchases made in bulk. The cost-to-retail percentage is applied to ending inventory at its current owned retail valuation to determine the cost of ending inventory for each grouping. In applying the retail inventory method, the Group establishes reserves to reduce the carrying amount of inventories to net realizable value based on current selling prices when items have not yet been marked down to market. Costs of purchased inventory are determined net of applicable rebates and discounts.Inventory is written down when its net realizable value is below its carrying amount. LuxExperience 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. When circumstances that previously caused inventories to be written down below cost no longer exist or when there is clear evidence of an increase in selling prices, the amount of the write-down previously recorded is reversed. The carrying amount of inventories is expensed as inventories are sold and recognized in cost of goods sold. Write-downs to net realizable value and losses are expensed in the period they occur. Any reversal of write-downs is recognized in the period the reversal occurs. Cost of sales, exclusive of depreciation and amortization includes the cost of merchandise sold, net of trade discounts, in addition to inventory write-offs and delivery costs of product from our brand partners to our distribution centers, where we act as the principal. These costs fluctuate with changes in net sales and changes in inventory write-offs due to inventory aging. For commission sales, we do not incur cost of sales as the purchase price of the goods sold is borne by the brand partner. h)Financial instruments—Initial recognition and subsequent measurement A financial instrument is any contract that gives rise to a financial asset of one party and a financial liability or equity instrument of another party. These include both non-derivative financial instruments, such as trade and other receivables and payables, and derivative financial instruments, such as foreign exchange contracts. Financial instruments are recognized when LuxExperience Group becomes party to the contractual provisions of the financial instrument. Generally, purchases and sales of financial assets are initially recognized at the settlement date. Upon initial recognition, all financial assets and financial liabilities are measured at fair value plus or minus any directly attributable transaction costs, unless a financial instrument is classified at fair value through profit or loss. LuxExperience Group categorizes all financial assets and financial liabilities at initial recognition. LuxExperience Group generally do not require collateral or other security from our customers. Measurement categories Financial assets and financial liabilities are grouped into the following categories according to IFRS 9:
Classification of financial assets depends on the business model used for managing financial assets and on the characteristics of the contractual cash flows involved. Financial assets are classified within AC category only when they are held exclusively to collect the contractual cash flows and when their contractual terms comprise cash flows that are solely payments of principal and interest on the principal amount outstanding. With the exception of derivatives, all financial assets are classified at AC. Cash and cash equivalents consist of cash held at banks or financial institutions, with a bank license e.g. PayPal and cash on hand. Trade and other receivables are generally accounted for at AC less any impairment using the simplified approach. Deposits granted for rent which are not related to credit lines are recorded under Non-current financial assets as restricted cash since they are not available for use in the operating business of LuxExperience Group. Non-current financial assets are recognized at nominal value. Financial liabilities are generally classified at amortized cost. There are some exceptions, for example financial liabilities at fair value through profit or loss including derivatives not designated as hedging instruments. Financial liabilities need to be analyzed to determine whether they contain any embedded derivative. If the embedded derivative is not closely related to the host contract, such derivatives must be separated and be accounted for separately at FVPL. Subsequent measurement Financial assets and financial liabilities in the AC category are subsequently measured using the effective interest method. Using the effective interest method, all directly attributable fees, consideration paid or received, transaction costs and other premiums or discounts included in the calculation of the effective interest rate are amortized over the expected term of the financial instrument. Interest income and expenses from the application of the effective interest method are presented as finance income, net in the consolidated statement of profit or loss and comprehensive income or loss. Financial assets and financial liabilities in the FVTPL category are subsequently measured at fair value, with changes in value recognized in the consolidated statement of profit or loss and comprehensive income or loss. Impairment The Group applies the simplified approach in accordance with IFRS 9.5.5.15 for its trade receivables where the loss allowance is always measured at an amount equal to lifetime expected credit losses. Each exposure is allocated to a credit risk grade based on data that is determined to be predictive of the risk of loss (including but not limited to external ratings, audited financial statements, management accounts and cash flow projections and available press information about customers). Credit risk grades are defined using qualitative and quantitative factors that are indicative of the risk of default. Exposures within each credit risk grade are segmented by geographic region and industry classification and an ECL rate is calculated for each segment based on delinquency status and actual credit loss experience over the past years. These rates are adjusted to reflect differences between economic conditions during the period over which the historical data has been collected, current conditions as well as the Group’s view of economic conditions over the expected life of the receivables. LuxExperience Group considers a financial asset to be in default when:
LuxExperience Group applies this general approach for cash and cash equivalents as well as other assets. These assets are considered to have a low credit risk when the issuer has a strong capacity to meet its contractual cash flow obligations in the near term. Cash and cash equivalents are only placed at banks and financial institutions with a bank license with credit ratings of investment grade or higher. Rental deposits are trust assets that, in case of a default of the counterparty, are separated from insolvency estate and are paid back primarily. Considering that, the impairment for these assets is not material. Hedge Accounting LuxExperience Group is exposed to currency risks as a result of participating in business activities outside the Euro zone. LuxExperience Group uses selected foreign currency forward contracts to hedge and thus limit currency risks from sales in foreign currencies. The sales are hedged each fiscal year so that no forward contracts are still in place at the balance sheet date. Currency risks are managed centrally within LuxExperience Group. Regular reports on the Group-wide development of risks and open positions with currency risk are made. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. LuxExperience Group only enters into foreign exchange derivatives (“foreign exchange forwards”) that are all designated as hedges of the foreign currency risk associated with the cash flows of highly probable forecast sales denominated in foreign currency. LuxExperience Group determines the existence of an economic relationship between the hedging instrument and the hedged underlying sales transaction on the basis of the currency, amount and timing of their respective cash flows. As changes in the cash flows of the hedging instrument offset changes in the cash flows of the hedged transaction offset, the relationship is effective. Potential sources of ineffectiveness are changes of the payment dates or a reduction in the total amount of the hedged item and a significant change of the credit risk of either party to the hedging relationship. Ineffective cash flow hedges in the periods presented were immaterial. At the inception of a hedge relationship, LuxExperience Group documents the economic relationship between the hedging instruments and hedged items, including whether changes in the fair value of the hedged items are offset by changes in the fair value of the hedging instruments. LuxExperience Group documents its risk management objective and strategy for undertaking its hedging transactions. Detailed information on risk management and risks arising from LuxExperience Group’s financial instruments can be found in Note 29. A hedging relationship qualifies for hedge accounting only if all of the following requirements for hedge effectiveness are met: there is an economic relationship between the hedged item and the hedging instrument, the effect of the credit risk does not dominate the changes in value that result from this economic relationship, the hedging relationship is the same as that which results from the amount of the hedged item that the Company actually hedges and the amount of the hedging instrument that the Company actually uses to hedge that amount of the hedged item. Hedging instruments are expected to be highly effective in achieving offsetting changes in cash flows. Hedging instruments are reviewed on an ongoing basis to determine that they have actually been highly effective throughout the financial year for which they are designated. LuxExperience Group applies cash flow hedge accounting, whereby the spot component of the forward exchange contracts is designated as the hedging instrument. The effective portion of changes in the fair value of the designated cash component is recognized in the hedge reserve in other comprehensive income (“OCI I”, “cash flow hedge reserve”) within equity. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss. In addition, LuxExperience Group recognizes changes in fair value related to the forward element in other comprehensive income (“OCI II”, “Cost of Hedging Reserve”) within equity. Amounts accumulated in equity are reclassified in the periods in which the hedging instrument affects profit or loss. Application of hedge accounting in fiscal year 2025 resulted in a €953 thousand decrease to net sales. If hedge accounting had not been applied, the amounts would have been recognized immediately within other income (expense), as free-standing derivatives. Derecognition A financial asset is derecognized when the contractual rights to receive cash flows from the financial assets have expired or have been transferred and LuxExperience Group substantially transferred all rewards and risks associated with the ownership. In the case of sales of trade receivables, essentially all rewards and risks are transferred to the buyer of the receivables. Financial liabilities are derecognized when the obligation under the liability is settled, cancelled or expired. Fair value measurement Fair value is the price that would be received to sell an asset or paid to settle or transfer a liability in an orderly transaction between market participants as of the measurement date in the principal or, in its absence, the most advantageous market to which LuxExperience Group has access at that date. The fair value of a liability reflects its non-performance risk. A number of LuxExperience Group’s accounting policies and disclosures require the measurement of fair value for both financial and non-financial assets and liabilities. LuxExperience Group measures the fair value of an instrument using the quoted price in an active market for that instrument, if such price is available. A market is regarded as “active” if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, then LuxExperience Group uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all factors that market participants would take into account in pricing a transaction. Based on the input parameters used for valuation the fair values have to be assigned to one of the following levels of the fair value hierarchy:
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. no of the fair value hierarchy as of June 30, 2024 and June 30, 2025. LuxExperience Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period. i)Provisions LuxExperience Group recognizes provisions when it has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The increase in provision due to the passage of time is recognized as finance expenses. j)Income taxes Current income taxes Current income tax is the expected tax payable or receivable based on the taxable income or loss for the period and the tax laws that have been enacted or substantively enacted as of the reporting date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes tax liabilities where appropriate on the basis of amounts expected to be paid to the tax authorities. In case of uncertainties related to income taxes, they are accounted for in accordance with IFRIC 23 and IAS 12 based on the best estimate of those uncertainties. Current income taxes are calculated based on the respective local taxable income and local tax rules for the period. In addition, current income taxes presented for the period include adjustments for uncertain tax payments or tax refunds for periods not yet finally assessed, however, excluding interest expenses and interest refunds and penalties on the underpayment of taxes. In cases for which it is probable that amounts declared as expenses in the tax returns might not be recognized (uncertain tax positions), a liability for income taxes is recognized. The amount is based on the best estimate of the expected tax payment (expected value or most likely amount). Deferred taxes Deferred taxes are recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable income and are accounted for using the balance sheet-liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences and deferred tax assets are recognized to the extent that it is probable that taxable income will be available against which deductible temporary differences can be utilized. Current and deferred tax is charged or credited in the consolidated statement of profit or loss and comprehensive income or loss, except when it relates to items charged or credited directly to equity, in which case the current or deferred tax is also recognized directly in equity. Deferred tax assets or liabilities are calculated on the basis of temporary differences between the tax basis and the financial reporting of assets and liabilities including differences from consolidation and on unused tax losses carried forward. For this purpose, deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets are recognized to the extent that it is probable that there will be future taxable income available against which the deductible temporary differences and tax-losses carried forward can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the asset to be recovered. LuxExperience Group establishes tax liabilities on the basis of expected tax payments. Liabilities for trade taxes, corporate taxes and similar taxes on income are determined based on the taxable income of the consolidated entities less any prepayments made. Calculation of tax liabilities is based on the recent tax rates applicable in the tax jurisdiction of LuxExperience Group. k)Segment reporting An operating segment is a component of LuxExperience Group that engages in business activities from which it may earn revenues and incur expenses and for which discrete financial information is available and used by the Chief Operating Decision Maker (“CODM”) to make decisions around resource allocation and review operating results of LuxExperience Group. LuxExperience Group identified its Chief Executive Officer and Chief Financial Officer as the CODM, collectively. LuxExperience Group does not separately present net sales by product category, because such information is not maintained on a basis consistent with IFRS and the preparation of such information would be unduly costly. l)Impairment of non-financial assets excluding Goodwill and intangible assets LuxExperience Group assesses whether an asset may be impaired at each reporting date. If any indication of impairment exists, or when annual impairment testing for such an asset is required, LuxExperience Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal or its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. LuxExperience Group bases its impairment calculation on detailed budgets and forecasted cash flows, which generally cover a period of five years. Impairment losses are recognized in the consolidated statement of profit or loss and comprehensive income or loss in expense categories consistent with the function of the impaired asset. For assets excluding goodwill and indefinite lived intangible assets, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or has decreased. If such indication exists, LuxExperience Group estimates the asset’s or CGU’s recoverable amount. Impairment losses relating to goodwill cannot be reversed in future periods. m)Management equity incentive plan Share-based compensation arrangements The grant-date fair value of equity-settled share-based compensation arrangements granted to employees is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant-date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Cash-settled transactions For cash-settled share-based payments, a liability is recognized for the goods or services acquired, measured at the fair value of the liability. At each balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognized in profit or loss for the reporting period. See note 28 on share-based compensation for further details. The company intends to continue to settle all remaining awards in equity.
The amendments included above do not have a material effect on the consolidated financial statements and thus no further details are disclosed.
At the date of authorization of these financial statements, LuxExperience Group has not applied the following new and revised IFRS standards that have been issued, but are not yet effective:
A number of new accounting standards, amendments and interpretations have been published that are not mandatory for reporting periods ended June 30, 2025 and have not been early adopted by LuxExperience. Except for IFRS 18, Presentation and Disclosure in Financial Statements, these standards, amendments, and interpretations not yet effective are not expected to have a significant impact on the Group’s consolidated financial statements as of the date of authorization for issuance. IFRS 18, Presentation and Disclosure in Financial Statements will be effective for periods beginning on or after January 1, 2027. The Group is currently assessing the potential impact of this standard.
LuxExperience applied “International Tax Reform - Pillar Two Model Rules (Amendments to IAS 12)” after its publication on May 23, 2023. The amendments contain a temporary, mandatory, and immediately applicable exemption from the recognition of deferred taxes resulting from the introduction of global minimum taxation; they also require, if already possible, specific disclosures in the notes on the impact of the minimum taxation (see note 26). The mandatory exemption is to be applied retrospectively. However, for the fiscal year 2025, the Group applied the temporary IAS 12 exemption related to Pillar Two and made use of the Transitional CbCR Safe Harbour exemption, resulting in no deferred taxes recognized in connection with global minimum taxation. |
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Critical accounting judgments and key estimates and assumptions |
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| Critical accounting judgments and key estimates and assumptions | 5. Critical accounting judgments and key estimates and assumptions The preparation of LuxExperience Group’s 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 and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods. The estimates and underlying assumptions are subject to continuous review. Below is a summary of the critical measurement processes and the key assumptions used by management in applying accounting policies with regard to the future, and which could have significant effects on carrying amounts stated in the consolidated financial statements, or for which there is a risk that significant adjustments may be made to the carrying amount of assets and liabilities in subsequent years. Inventory write-downs Inventory is carried at the lower of cost or net realizable value, which requires an estimation of the products future net selling prices. When assessing the net realizable value of the inventory, LuxExperience Group considers multiple factors and assumptions including the quantity and aging of inventory on hand, anticipated sales volume, expected selling prices and selling cost, as well as historical recovery experience and risk of obsolescence from changes in economic conditions. Refer to Note 18 for further details. Share-based compensation Determining the fair value of share-based compensation options at the grant date requires judgment, including estimating the expected term that options will be outstanding prior to exercise, the associated volatility, the appropriate risk-free interest rate, dividend yield and the expected achievement of non - market performance conditions. Upon grant of the awards, we also estimate an amount of forfeitures that will occur prior to vesting. If actual forfeitures differ significantly from the estimates, share-based compensation expense could be impacted. For further disclosures relating to share-based payments, see Note 28. Impairment of Goodwill Impairment exists when the carrying value of an asset, CGU or group of CGU’s exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The value in use calculation is based on a discounted cash flow model. The cash flows are derived from the budget and projections for the next five years, according to the development and maturity of each CGU. The key judgements and assumptions used in calculating the recoverable amount are (i)budgeted revenue growth rate (CAGR for the next five years), including the terminal growth rate, (ii)EBITDA margin in Terminal value and (iii)the discount rates applied to the future cash flows of the CGUs. These estimates are relevant to goodwill recognized by the Group. Refer to Note 14, Intangible assets and goodwill for further details on the assumptions and associated sensitivities. Business Combination - Purchase Price Allocation In connection with the acquisition of YNAP, management was required to make significant judgments and estimates in applying the acquisition method under IFRS 3. These related primarily to the purchase price allocation (PPA), including the identification of the acquired assets and liabilities and the determination of their fair values at the date of acquisition. The most material fair value adjustments were recorded in right-of-use assets and inventory. Key assumptions applied in the valuation of identifiable intangible assets included cash flow projections and royalty rates. For acquired inventory, a key assumption applied was the estimated selling prices taking into consideration alternative sales channels for certain inventory categories, which would be considered by a market participant. As a result, the company attributed a fair value of zero to the identified trademarks and customer relationships, whereas for the trademarks a royalty rate of 0% was applied, given the current performance of the acquired business and the expected period of transformation and brand investment. As a result of the purchase price allocation, the fair value of YNAP’s identifiable net assets of €953.8 million, including the contractually required net cash position of €555 million, exceeded the total consideration transferred of €330.2 million. Consequently, LuxExperience recognized a gain on bargain purchase of €623.5 million in accordance with IFRS 3. For further details on the PPA, refer to Note 6, Business combinations. |
Business combinations |
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| Business combinations | 6. Business combinations On April 23, 2025, the Company acquired 100% shares of YNAP from Richemont Italia Holding S.p.A (“Richemont”) and obtained control of YNAP Group, which is identified as a business under IFRS 3. The transaction aims to create a leading, global, multi-brand digital luxury group offering a highly curated and strongly differentiated edit of the most prestigious luxury brands and products to luxury enthusiasts worldwide. Consideration transferred The total consideration transferred amounts to €330.2 million. This comprises the issuance of 49,741,342 ordinary shares with a fair value of €345.6 million, based on the closing share price of €6.95 ($7.93) as of April 23, 2025, offset by a €15.3 million receivable from Richemont based on a provisional assessment of the net financial position at closing. Identifiable assets acquired and liabilities assumed The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the date of acquisition:
The identifiable intangible assets acquired, including trademarks and customer relationships, were evaluated as part of the purchase price allocation process. Management determined that the fair value of these assets was zero as of the acquisition date. Pursuant to the SPA, at the time of the closing of the Transaction, YNAP were to have a net financial position (cash less financial indebtedness as defined in the SPA) of €555.0 million, subject to adjustments upon the final net financial position calculation – pursuant to the timeline outlined in the SPA - with the right to challenge and review by LuxExperience Group. If the final net financial position at completion differs from € 555.0 million, the party on the shortfall side must compensate the other party for the difference, with Richemont paying LuxExperience if it is less, and LuxExperience paying Richemont if it is more than €555.0 million. As of the date of the issuance of these financial statements, the review of the net financial position amount has not been completed. Trade and other receivables comprise gross contractual amounts of €66.9 million, of which €2.6 million were expected to be uncollectable at the date of acquisition. For the period between April 23, 2025, and June 30, 2025, YNAP Group contributed revenue of €348.3 million and net loss of €40.5 million to LuxExperience Group’s results. As of the date of issuance of these consolidated financial statements, the purchase price allocation is provisional with respect to the final determination of the net financial position at completion and its related impact on the consideration transferred and the gain on bargain purchase. This amount is based on a provisional assessment that is not yet final, and therefore the determination of the net financial position remains subject to finalization. The final settlement of the net financial position with Richemont is pending. The Group will update the purchase price allocation upon completion of the net financial position review within the measurement period, after which the accounting for the acquisition will be revised. Bargain purchase A gain on the bargain purchase arising from the acquisition has been recognized in Other income (loss), net as follows:
The bargain purchase reflects the difference between the estimated fair value of net assets and the consideration transferred as of the date of acquisition. The gain of €623.5 million arose because the fair value of YNAP’s identifiable net assets €953.8 million, including a contractually required net financial position of €555 million, exceeded the €330.2 million consideration transferred. In accordance with IFRS 3, the Group has performed a reassessment of the assets acquired and liabilities assumed to confirm appropriate recognition and measurement. The gain on bargain purchase reflects that the Group expects that it will incur significant additional costs in the coming years to integrate YNAP and improve its operational efficiency. Acquisition-related costs The Group incurred acquisition-related costs of €16.8 million on legal fees, due diligence and other professional costs. These costs have been included under “selling, general and administrative expenses”. Pro forma financial information LuxExperience‘s unaudited pro-forma results discussed in this paragraph include the effects as if the business combination had been consummated as of July 1, 2024. If the acquisition had occurred on July 1, 2024, management estimates that consolidated revenue would have been €2,918.6 million, and consolidated net loss for the year would have been €88.8million, excluding the bargain purchase gain of €623.5 million. In determining these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition would have been the same if the acquisition had occurred on July 1, 2024. |
Segment and geographic information |
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| Segment and geographic information | 7. Segment and geographic information In line with the management approach, the operating segments were identified on the basis of LuxExperience Group’s internal reporting and how our chief operating decision maker (CODM), assesses the performance of the business. LuxExperience Group collectively identifies its Chief Executive Officer and Chief Financial Officer as the CODM. Pre-acquisition Prior to the acquisition of YNAP on April 23, 2025, LuxExperience Group reported two operating segments:
Post-acquisition and reporting changes Following the acquisition and updates to the monthly management reporting effective May 2025, the Company revised its segment reporting structure to accurately reflect how the CODM now monitors the Group’s business. The CODM remains the Chief Executive Officer and Chief Financial Officer, who collectively allocate resources and assess performance across operating segments. The expanded LuxExperience Group operates five online brands – Mytheresa, Net-A-Porter (NAP), Mr Porter (MRP), YOOX, and THE OUTNET (TON) – as well as the retail store that is now included within the Luxury | Mytheresa segment. Accordingly, the Group has identified the following three operating segments, which represent components of the business whose operating results are regularly reviewed by the CODM for resource allocation and performance assessment purposes:
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 from the previous operating segments online operations and retail store to the newly combined operating segment Luxury | Mytheresa for the fiscal year ended June 30, 2023 and 2024, respectively.
The following is a reconciliation of the Company’s segment EBITDA to consolidated net income for the fiscal year ended June 30, 2025, in accordance with the revised segment structure following the YNAP Acquisition.
Geographic information Non-current assets excluding deferred tax assets:
Information on net sales by geographic area is presented in Note 13, Net sales. Geographic results are not regularly reviewed by the CODM for resource allocation or performance evaluation and therefore are not considered in operating segments. |
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Selling, general and administrative expenses |
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| Selling, general and administrative expenses | 8. Selling, general and administrative expenses Selling, general and administrative expenses include all personnel costs for LuxExperience Group, IT expenses, costs associated with the distribution centers, and other overhead costs. Selling, general and administrative expenses consist of the following:
The total selling, general and administrative (SG&A) expenses increased by €125.0 million from €159.3 million in fiscal year ended June 30, 2024 to €284.3 million in fiscal year ended June 30, 2025. The increase is primarily attributed to the acquisition of YNAP and the associated expenses, including consulting, legal, and accounting advisory fees Share based compensation expenses amounted to €14.3 million for the fiscal year ended June 30, 2025 and €18.5 million for the fiscal year ended June 30, 2024. |
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Other income (loss), net |
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| Other income (loss), net | 9. Other income (loss), net Other income, net consists of the following:
Other income, net increased by €613.3 million from €267 thousand in fiscal year ended June 30, 2024 to €613.5 million in fiscal year ended June 30, 2025 due to a gain on bargain purchase (€623.5 million) resulting from the acquisition of YNAP. |
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Finance income (costs), net |
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| Finance income (costs), net | 10. Finance income (costs), net Finance expenses, net consists of the following:
Further information on interest expenses on leases can be found in Note 16. |
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Income tax expense |
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| Income tax expense | 11. Income tax expense Income taxes are comprised of current income taxes and deferred taxes and consists of the following:
During fiscal year 2025, LuxExperience Group’s primary statutory tax rate for current income taxes was 27.74% (2024: 27.74% and 2023: 27.74%), consisting of the German corporate tax rate of 15%, a 5.5% solidarity surcharge on the German corporate tax rate, and in fiscal year 2025 a trade tax rate of 11.92%, being the statutory income tax rate of the German income tax group parent, LuxExperience B.V., located in Aschheim, Germany which changed due to the change in composition of the weighted average trade tax rate. The primary deferred tax rate for German entities in 2025 was 27.74% (2024: 27.74%). For non-German companies, the current and deferred taxes at period-end were calculated using a range of applicable income tax rates between 0% to 35% (2024: 8.25% to 31.0%). The table below reconciles the expected income tax expense amount, based on LuxExperience Group’s expected tax rate (2025: 27.74%, 2024: 27.74%, 2023: 27.74%) to the actual income tax expense amounts for fiscal year 2023, fiscal year 2024 as well as fiscal year 2025.
The material drivers leading to the difference between expected income tax expense and income tax expense are as follows: Other non-deductible expenses in fiscal year 2025 mainly include the tax effect of expenses related to share-based payments under IFRS of €3,963 thousand (2024: €5,134 thousand, 2023: €8,328 thousand) which are not deductible for German income tax purposes. The gain on bargain purchase from the YNAP Acquisition is considered in the income before tax. The tax related relief amount of €172,767 thousand is presented as a permanent difference. On July 11, 2025, the German Bundesrat approved a reduction in the corporate income tax rate from 15% to 10% in annual steps of 1% each, starting in the 2028 assessment period. This change affects the measurement of deferred tax assets and liabilities, as the tax rate to be used for this measurement is the rate expected to apply at the time of reversal of temporary differences or utilization of tax losses carried forward and interest carried forward. As this is an event that occurred after the reporting date, the effect of the valuation of deferred taxes at the lower tax rate is not recognized in the reported balance sheet as of end of fiscal year 2025. Taking this into account, a tax income in the range of hundreds of thousands of euros is expected in the coming fiscal year. In 2025, the utilization of tax losses carried forward by LuxExperience B.V decreased the deferred tax assets by an amount of €343 thousand. At the end of fiscal year 2025 LuxExperience B.V has remaining losses carried forward for which deferred tax assets of €4,272 thousand were recognized. Management expects utilization of the tax losses carried forward and deductible temporary differences within a forecasting period of five years to be sufficiently probable. For temporary differences associated with investments in subsidiaries at the amount of €43,404 thousand (2024: €5,733 thousand, 2023: €5,370 thousand), no deferred taxes have been recognized as the respective parent is able to control the timing of the reversal of the temporary differences, and it is probable that the temporary difference will not reverse in the foreseeable future. |
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Earnings per Share |
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| Earnings per Share | 12. Earnings per Share Basic earnings per share are determined by dividing the net income for the period attributable to the ordinary shareholders of LuxExperience B.V. by the basic weighted average number of ordinary shares outstanding during the period.
Basic earnings per share are calculated in accordance with IAS 33 (“Earnings per Share”) based on earnings attributable to the Company’s shareholders and the weighted average number of shares outstanding during the period. The ordinary shares outstanding used for computation of earnings per share reflect the Legal Reorganization, adjusted for the share split described in Note 20. This presentation is consistent with the principles in IAS 33.64, which requires calculation of basic and diluted earnings per share for all periods presented to be adjusted retrospectively if changes occur to the capital structure after the reporting period but before the financial statements are authorized for issue. Diluted earnings per share are determined by dividing the net income for the period attributable to the ordinary shareholders by the diluted weighted average number of shares outstanding during the period. In 2023 and 2024, potential ordinary shares with a dilutive effect (stock options) were excluded, because the effect would be anti-dilutive. Hence, the basic earnings per share correspond to diluted earnings per share in fiscal years 2023 and 2024. 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. The following table provides a summary of potential ordinary shares that were excluded in fiscal years 2023, 2024 and 2025 due to their antidilutive effect for the diluted EPS (in millions):
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Net sales |
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| Net sales | 13. Net sales LuxExperience 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. LuxExperience Group generates revenue from the sale of merchandise shipped to customers as well as from commission for the rendering of services in connection with the Curated Platform Model (CPM) and certain Online Flagship Stores. Furthermore, LuxExperience recognizes revenues from advertising services. The following table provides LuxExperience Group’s net sales by geographic location:
(1)No individual country other than Germany and the United States accounted for more than 10% of net sales. Substantially 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 and is therefore not separately disclosed. No single customer accounted for more than 10% of LuxExperience Group’s net sales in any of the periods presented. Net sales recognized from contract liabilities were €15,892 thousand in fiscal year 2025 (2024: €2,007 thousand, 2023: (€1,233) thousand. Application of hedge accounting in fiscal year 2025 resulted in a €953 thousand (2024: €1,511 thousand decrease; 2023: €1,650 thousand decrease) decrease to net sales. |
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| Intangible assets and goodwill | 14. Intangible assets and goodwill LuxExperience Group’s intangible assets and goodwill consist of the following:
Intangible assets with a finite useful life LuxExperience Group has intangible assets with a finite useful life, consisting of licenses and software. Amortization expense of the intangible assets is entirely classified within depreciation and amortization in the consolidated statements of profit or loss and comprehensive income or loss. The following table presents the changes in LuxExperience Group’s finite-lived intangible assets during fiscal year 2024 and fiscal year 2025:
Indefinite-lived intangible assets - Trademark LuxExperience Group’s Mytheresa and mytheresa.com trademarks represent an indefinite-lived intangible asset. LuxExperience Group assessed the trademarks for potential impairment during the fourth quarters of each fiscal year, determining that no impairments occurred. The recoverable amount of LuxExperience Group’s two identified trademarks was based on fair value less costs of disposal, estimated using discounted cash flows. The fair value measurement was categorized as Level 3 fair value based on the inputs in the valuation technique used. When assessing the trademarks for potential impairment, the fair value of the trademarks was determined using the relief from royalty income approach. Under this approach, management estimated future cash flows based on internal projections considering LuxExperience Group’s past performance and forecasted growth which includes also industry terminal growth revenue growth rate forecast of 2.0% p.a. (2024: 2.0%) in the planning periods, an assumed royalty rate of 2.0% (2024: 2.0%) and discount rate of 9.4% (2024:9.4%) for Mytheresa and 10.4% (2024: 8.8%) for the THERESA (retail store CGU) Trademark. The discount rate used was a trademark specific post-tax discount rate. Revenue growth is estimated based on internal projections considering LuxExperience Group’s past performance and forecasted growth which includes also industry growth forecast. The revenue growth rates over the period are the same for trademarks as for the goodwill for the CGU-Online and retail store. The terminal growth rates applied in the impairment assessments do not exceed the average long-term growth rate for either the online operations or retail store CGUs. The discount rate and royalty rate are based on market participant assumptions. The assumed terminal growth rates applied in LuxExperience Group’s trademark impairment assessments were as follows:
Goodwill MGG acquired 100% of the outstanding shares of mytheresa.com GmbH on October 9, 2014 and Warenvertrieb GmbH on October 31, 2014. The goodwill resulting from this acquisition is attributable to LuxExperience Group’s online operations and retail store and is not deductible for tax purposes. No goodwill has been recognized from the YNAP Acquisition. Goodwill has been allocated to two cash-generating units (CGUs) within the Group–the online operations of the Luxury | Mytheresa segment (the “online CGU”) and the Mytheresa retail store in Munich–which represent the lowest levels within the Group at which goodwill is monitored for internal management purposes. LuxExperience Group allocates €137,933 thousand and €959 thousand of goodwill to the online CGU and the retail store, respectively. The allocation of goodwill has remained unchanged for all periods presented. The recoverable amounts of the CGUs are determined based on each respective CGU’s value in use. The present value of the future cash flows expected to be derived from an asset or CGU based on the value in use (VIU) approach. The key assumptions for determining the value in use are the discount rates, budgeted and expected revenue growth rates (CAGR for the next five years) and EBITDA margin in Terminal value. Management estimates discount rates using pre-tax rates that reflect current market assessments of the time value of money and the risks specific to the CGU’s. The budgeted and expected growth rate is based on internal projections considering LuxExperience Group’s historical growth rates and the estimated sales volume in the next five years taking into account external industry growth forecasts and an increase of LuxExperience’s overall market share. Further we expect that the effects on growth rates from overall economic trends, such as inflation, recessionary trends as well as political tension all around the world are only temporary and will return back to historic levels in the mid-term. The terminal value considers an expected growth rate in net sales by 2.0% (2024: 2.0%), and EBITDA margin of 7.8% (2024: 7.5%) in the online CGU. The budgeted terminal value EBITDA margin takes into account an expected increase in gross profit margin, related to the focus in Top Customers and sale of full-price items, as well as a decrease in Selling, general and administrative expenses ratio over the next 5 years in each of the CGU’s. LuxExperience Group prepares cash flow forecasts derived from the most recent financial budgets approved by management for the next . The assumed key assumptions for terminal growth rates and discount rates applied in LuxExperience Group’s goodwill impairment assessments were as follows:
The terminal growth rates applied in the impairment assessments do not exceed the average long-term growth rate for either the online operations or retail store CGUs. The terminal value growth rate was determined based on management’s estimate of the long-term growth rate of the relevant markets, consistent with the assumptions that a market participant would make. The discount rate is based on a risk free rate of 3.0% (FY24: 2.50%) and a market risk premium of 6.5% (FY24: 7.00%). In addition, individual beta factors derived from the respective peer group, the cost of debt and the capital structure are taken into account for the respective CGUs. The estimated recoverable amount of the online CGU exceeded its carrying amount by approximately €212 million (FY24: €205 million). Management has identified that a reasonably possible change in three key assumptions could cause the carrying amount to exceed the recoverable amount. The following table shows the amount by which these three assumptions would need to change individually for the estimated recoverable amount to be equal to the carrying amount.
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| Property and equipment | 15. Property and equipment Changes in Property and equipment during the years presented were as follows:
Property and equipment increased from €43,653 thousand as of June 30, 2024 to €55,901 thousand as of June 30, 2025 mainly due to the acquisition of YNAP. Included in depreciation and amortization expense is an impairment loss of €3.1 million, recognized in accordance with IAS 36, relating to property, plant and equipment used in the Luxury | Mytheresa segment’s distribution center in Heimstetten, which was closed in August 2024. The recoverable amount of these assets, as determined under IAS 36, was assessed to be nil. |
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| Leases | 16. Leases Expenses on leases under the low value and short-term exemptions amounted to €2,896 thousand in fiscal year 2025 (2024: €197 thousand, 2023: €191 thousand). Expenses relating to variable lease payments not included in the measurement of lease liabilities amounted to €0 thousand in fiscal year 2025 (2024: €0 thousand, 2023: €0 thousand). LuxExperience Group incurred depreciation and interest expenses in an amount of €18,622 thousand in fiscal year 2025 (2024: €12,406 thousand, 2023: €10,909 thousand). No rent concessions were granted or recognized in fiscal year 2025 (2024: none, 2023: none). The non-current lease liabilities in fiscal year 2025 amounted to €176,718 thousand (2024: €40,483 thousand, 2023: €49,518 thousand) and the current lease liabilities amounted to €32,085 thousand (2024: €9,282 thousand, 2023: €8,155 thousand). See Note 29 for a maturity analysis of the Company’s future lease payments. Some property leases contain extension options exercisable by LuxExperience Group up to one year before the end of the non-cancellable contract period. Where practicable, LuxExperience Group seeks to include extension options in new leases to provide operational flexibility. The extension options held are exercisable only by LuxExperience Group and not by the lessors. LuxExperience Group assesses at the lease commencement date whether it is reasonably certain to exercise the extension options. LuxExperience Group reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. LuxExperience Group estimated, if all extension options would be exercised for current leases, it would result in an additional cash outflow of €119.7 million. LuxExperience Group classified rent cash deposits under other non-current asset of €1,846 thousand (2024: €1,431 thousand). The total cash outflow for leases amounted €10,057 thousand in fiscal year 2025 (2024: €7,924 thousand, 2023: €4,059 thousand). Interest expenses from lease liabilities amounted to €4,167 thousand in fiscal year 2025 (2024: €2,916 thousand, 2023: €2,417 thousand). Right-of-use asset activity during the reporting periods presented is comprised of the following:
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| Other current and non-current assets | 17. Other current and non-current assets Other current assets consist of the following:
Other non-current assets consist of the following:
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| Inventories | 18. Inventories LuxExperience Group’s inventories consist mainly of finished goods merchandise acquired from fashion designers. Inventories are measured at the lower of cost or net realizable value. Cost of inventories sold amounted to €662,389 thousand in fiscal year 2025 (2024: €449,590 thousand, 2023: €383,115 thousand). during fiscal year 2025, net reversals of previous inventory write-downs amounting to €4,031 thousand (2024: write-downs of €6,658 thousand, 2023: write-downs of €2,913 thousand). Inventory is written down when its net realizable value falls below its carrying amount and reversed when the circumstances that previously caused the write-down no longer exist or when there is clear evidence of an increase in net realizable value. Net realizable value is estimated as the amount at which inventories are expected to be sold, considering seasonal fluctuations in selling prices, less estimated costs necessary to complete the sale. Specific inventory located in the Leipzig warehouse, with a carrying amount of approximately €348 million as of June 30, 2025, serves as collateral under the Group’s revolving credit facility agreement. The pledged inventory remains in the Group’s possession and is used and managed in the ordinary course of business. |
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| Trade and other receivables | 19. Trade and other receivables The carrying amount of trade and other receivables approximates their fair value due to their short-term nature. The trade and other receivables are non-interest bearing. The maximum credit risk at the balance sheet date, which corresponds to the carrying amount of trade and other receivables, was taken into account in accordance with IFRS 9 when measuring the allowance for expected credit losses. Information about the impairment of trade and other receivables and LuxExperience Group’s exposure to credit risk, currency risk and interest rate risk can be found in Note 29. The amount of impairment allowance at June 30, 2025 is €4,131 thousand (2024: €0 thousand). |
Shareholder's equity |
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| Shareholder's equity | 20. Shareholder’s equity Subscribed capital As of June 30, 2024, Subscribed capital is €1 thousand, representing 85,265,962 shares outstanding with a nominal value per share of USD €0.000015. On April 23, 2025, LuxExperience completed the YNAP Acquisition and, pursuant to the Share Purchase Agreement, LuxExperience issued an aggregate 49,741,342 of its Ordinary Shares to Richemont Italia, which represent 33.0% of the post-issuance fully diluted share capital of LuxExperience. Immediately after the issuance of these shares, there were 136,374,256 Ordinary Shares outstanding. Capital reserve On January 21, 2021, the Company completed its initial public offering (“IPO”) of 17,994,117 American Depositary Shares (“ADSs”), representing an equal number of 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs, representing 2,347,058 ordinary shares, at a public offering price of $26.00 per ADS. The Company issued 14,233,823 ADSs in its IPO and received proceeds, net of underwriting discounts and before related expenses of $344.2 million. Its sole shareholder sold 3,760,294 ADSs in the offering, including 586,764 ADSs sold by the Company and 1,760,294 ADSs sold by the sole shareholder pursuant to the exercise in full of the underwriters’ option to purchase additional ADSs. Total transaction costs of €16,740 thousand relating to the initial public offering were incurred, of which €12,190 thousand have been expensed and are included in the selling, general and administrative expenses within the condensed consolidated statement of operations and are part of operating cash flows in the statement of cash flow. Transaction costs of €4,550 thousand have been directly deducted from the capital reserve, after recognizing €1,249 thousand taxes connected to the Transaction costs. On April 23, 2025, LuxExperience completed the YNAP Acquisition. The difference of €345,552 thousand between the nominal value and the market price at acquisition of the 49,741,342 Ordinary Shares issued to Richemont Italia was allocated to the capital reserve. Profits are reflected within the Retained earnings (losses) of LuxExperience Group. Ordinary shares issued
Please see Note 12 for further explanation of the weighted average number of ordinary shares outstanding used in the EPS calculation. All ordinary shares rank equally with regard to the Company’s residual assets. Holders of these shares are entitled to dividends as declared from time to time and are entitled to one vote per share at general meetings of the Company. All rights attached to the Company’s shares held by the Group are suspended until those shares are reissued. Please see Note 28 for further explanation on types of awards. Foreign currency translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations. |
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Liabilities to banks |
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Jun. 30, 2025 | |
| Liabilities to banks | |
| Liabilities to banks | 21. Liabilities to banks As of June 30, 2025, LuxExperience Group has entered into a new Revolving Credit Facility agreement totaling €100.0 million that replaced the existing Revolving Credit Facilities. The new Revolving Credit Facility matures in September 2027. Under the new Revolving Credit Facility, Mytheresa is subject to financial covenants that include requirements related to working capital as a borrowing base and a maximum group net debt leverage ratio. As of June 30, 2025, LuxExperience Group had drawn €10.0 million in cash under the €100.0 million Syndicated RCF. In addition, €10.2 million of the credit line was utilized in the form of guarantees issued under the same facility.
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Tax liabilities |
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| Tax liabilities | 22. Tax liabilities Tax liabilities result from current income taxes. Changes in LuxExperience Group’s tax liabilities were as follows:
The decrease in tax liabilities is due to the current income taxes which are calculated based on the respective local taxable income and local tax rules for the period. |
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Provisions |
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| Provisions | 23. Provisions Provisions consist of obligations resulting in an expected outflow of economic benefits and were non-current for each of the periods presented. Provisions consist of the following as of June 30, 2025:
LuxExperience Group leases its Corporate headquarters, central distribution centers and the retail stores in Germany. LuxExperience Group recognizes a provision for expected dismantling costs to be incurred at the end of the respective lease terms for these facilities based on external data sources and internal experience from past dismantling activities. The increase is mainly due to the provisions added as part of YNAP Acquisition. Included in other provisions are amounts recognized for penalties payable to suppliers that did not meet agreed utilization levels. |
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| Other liabilities | 24. Other liabilities Other current liabilities consist of the following:
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Deferred income tax assets and liabilities, net |
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| Deferred income tax assets and liabilities, net | 25. Deferred income tax assets and liabilities, net The following table depicts the changes in deferred tax balances through equity and profit or loss for the periods presented.
LuxExperience Group’s deferred tax balance for each of the years presented consists of the following as of June 30:
Deferred tax assets and deferred tax liabilities are offset if the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority and if there is the right to set off current tax assets against current tax liabilities. In the presentation of deferred tax assets and liabilities in the Consolidated Statement of Financial Position, no difference is made between current and non-current. For existing unused tax losses carried forward of €1,519,226 thousand, no deferred tax asset has been recognized in 2025 (2024: €123 thousand; 2023: €119 thousand). The tax loss carryforwards are mainly in UK, Italy, Germany and Hong Kong which do not have an expiry date. For existing interest carryforwards of €62,983 thousand, no deferred tax asset has been recognized in 2025 (2024: €0, 2023: €0). The interest carryforwards do not have an expiry date. The total temporary difference for which no deferred tax asset has been recognized amounts to €310,413 thousand (2024: €0, 2023: €0). |
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Global minimum top-up tax |
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Jun. 30, 2025 | |
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| Global minimum top-up tax | 26. Global minimum top-up tax The Group falls within the scope of the OECD model rules of the second pillar for the national implementation of the global minimum tax (Pillar Two). The implementation into German law took place through the introduction of a minimum tax law in December 2023, which applies to all financial years beginning after December 30, 2023. LuxExperience Group applies the exemption in accounting standard IAS 12 for the recognition and disclosure of information on deferred tax assets and liabilities in connection with income taxes from global minimum taxation. For fiscal year 2025 LuxExperience Group is making use of the Transitional CbCR Safe Harbour exemption. In each jurisdiction, at least one CbCR Safe Harbour Test was successfully passed, leading to no tax expenses associated with Pillar Two taxes for the fiscal year 2025. We are supported by tax specialists in the application, implementation and compliance of the Pillar Two legislation. |
Related party transactions |
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| Related party transactions | 27. Related party transactions As of June 30, 2025, LuxExperience Group was a 48.6% owned subsidiary of MYT Holding LLC, USA (2024: 77.9)%. In management’s judgement, the ultimate controlling party of LuxExperience Group as of June 30, 2025, is MYT Ultimate Parent LLC, USA. Richemont Italia Holding S.p.A., Italy, a subsidiary of Compagnie Financière Richemont SA, held a 36.4% ownership interest in LuxExperience Group. Compagnie Financière Richemont SA, together with its subsidiaries and equity-accounted investments, constitutes the Richemont Group. Related Parties transactions As of June 30, 2025, LuxExperience Group had a receivable against MYT Ultimate Parent LLC, USA in an amount of €213 thousand (2024: €213 thousand). Further, LuxExperience Group had unsecured liabilities to MYT Ultimate Parent LLC, USA in an amount of €838 thousand (2024: €838 thousand). These balances resulted from various intercompany charges incurred before July 2020. YNAP maintains a separate €100.0 million revolving credit facility with Compagnie Financière Richemont S.A. (“Richemont”), maturing in 2031. The interest rate on this RCF is based on the 3-month Euribor plus an applicable margin for any utilized portion of the facility. No amounts were drawn under this RCF as of June 30, 2025. Should the facility be drawn in the future, any outstanding amounts would be secured by certain of the Company’s inventories and receivables. As of June 30, 2025, LuxExperience Group had receivables against Richemont Group totaling €43,652 thousand, mainly comprising a tax credit to the amount of €25,975 thousand and a receivable of €15,332 thousand related to the shortfall on the net financial position in connection with the YNAP acquisition. Note that the receivable of €15,332 thousand is based on a provisional assessment and as at the date of this report is still subject to finalization. Furthermore, LuxExperience Group had unsecured liabilities to Richemont Group amounting to €24,747 thousand. These balances resulted mainly from purchase and sale transactions with Richemont Group brands in fiscal year 2025. During fiscal 2025, LuxExperience Group purchased inventory of €30,982 thousand from Richemont Group brands and generated income of €1,870 thousand, mainly from management and information technology services. Key Management Personnel Compensation Key management personnel as defined by IAS 24 are persons who, by virtue of their positions, are responsible for the operations of LuxExperience Group. The managing directors of the Company have the authority and responsibility for planning, directing and controlling LuxExperience Group´s operating activities. The following table shows the personnel expenses for managing directors:
Refer to Note 28 for further details regarding the Share-based compensation. The personnel expenses in fiscal year 2021 accounting for IPO-related share-based compensation awards was based on a share price of 31 USD. |
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| Share-based compensation | 28. Share-based compensation a)Description of share-based compensation arrangements In connection with the IPO of LuxExperience 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 recommends and Supervisory Board approves annually the 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 adopted on the 8th of November 2023 (the “2023 Plan”). The 2023 Plan was further amended and restated at the extraordinary general meeting of shareholders held on March 6, 2025 (the “Second Amended 2023 Plan”). The changes implemented in the Second Amended 2023 Plan include, inter alia, an adjustment of the pool of reserved shares that may be granted under the 2023 Plan, ratification of any and all grants made under the 2023 Plan from the date it became effective on November 8, 2023, and a further increase of the pool of reserved shares effective as of, and subject to the completion of the YNAP Acquisition. LuxExperience Group established an Employee Share Purchase Plan, with the intent of encouraging long-term relationships 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.
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 options granted 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:
Supervisory Board Members Plan On February 9, 2022, 22,880 RSUs were granted to four Supervisory Board Members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested on February 9, 2023. As the restricted share awards are not subject to an exercise price, the grant date fair value amounts to USD 16.02, the closing share price on the grant date. On July 1, 2022, 11,467 RSUs were granted to one Supervisory Board Member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested on June 30, 2023. As the restricted share awards are not subject to an exercise price, the grant date fair value amounts to USD 9.68, the closing share price on the grant date. 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 LuxExperience 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 LuxExperience 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 LuxExperience 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. On November 12, 2024, 85,502 RSUs were granted to five Supervisory Board Members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s will vest on November 12, 2025. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 6.14, the closing share price of the grant date. The following table summarizes the main features of the annual plan:
Long-Term Incentive Plan On July 1, 2021, 171,164 restricted share units RSUs were granted to selected key management members. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience 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. (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 LuxExperience 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. (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 LuxExperience 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. (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. (1/3) of the options vest and become exercisable on each of 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. (1/3) of the options vest and become exercisable on each of 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 LuxExperience 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. (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. (1/3) of the options vest and become exercisable on each of 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 a selected key management member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience 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:
The following table summarizes the main features non-market performance RSUs and stock option awards under the annual plan:
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 of the investment by the participant. The discount is implemented by increasing the number of shares with (e.g. a participant receives ). 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. On May 13, 2025 the Company commenced its third open enrollment period for its Employee Share Purchase Program. The expense that was recorded in equity, displaying the contribution of LuxExperience to the employees, amounted to €21 thousand. 10,481 shares were issued in the program. The grant date fair value amounts to USD 9.27. 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.
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.
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:
During the year ended June 30, 2025, the Company withheld 276,612 shares (287,511 during fiscal 2024) to cover tax obligations related to the vesting of RSUs. The total value of the shares withheld was €1,846 thousand (€1,370 thousand during fiscal 2024), which was based on the market price of the Company’s shares on the vesting date.
The number and weighted-average exercise prices of share options under the share option programs described under the Alignment award were as follows.
The range of exercise prices for the share options outstanding as of June 30, 2025 is between 5.79 USD and 11.58 USD. The average remaining contractual life is 5.56 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.
The range of exercise prices for the share options outstanding as of June 30, 2025 is between 4.00 USD and 5.07 USD. The average remaining contractual life is 8.52 years. During the year ended June 30, 2025, options exercised by employees resulted in total proceeds of €7,133 thousand, which were recognized as an increase in capital reserve. |
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| Financial instruments and financial risk management | 29. Financial instruments and financial risk management The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. Due to their nature, the carrying amounts of cash and cash equivalents, trade and other receivables, and trade and other payables approximate their fair value. Financial instruments as of June 30, 2024 is as follows:
Financial instruments as of June 30, 2025 is as follows:
The carrying amounts of each of the measurement categories listed above and defined by IFRS 9 are as follows:
Due to their nature, the carrying amounts of cash and cash equivalents, trade and other receivables, and trade and other payables approximate their fair value. There were no transfers between the different levels of the fair value hierarchy during fiscal year 2024 and fiscal year 2025. LuxExperience Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as of the end of the reporting period. As LuxExperience Group does not meet the criteria for offsetting, no financial instruments are netted. Foreign exchange derivatives held only during the year were designated as hedging instruments, the effective fair value changes of which were recognized in separate components of equity. The development of the corresponding reserves is shown in the following table:
Net gains or losses The table below shows the net gains and losses of financial instruments per measurement categories defined by IFRS 9:
Net gains and losses on financial liabilities measured at amortized cost include gains and losses from interest expenses. Net gains and losses on financial assets and financial liabilities measured at fair value through profit or loss represent changes in fair value measurement. Interest income and expenses Interest expense is calculated by applying the effective interest rate to the gross carrying amount of liabilities measured at amortized cost (See Note 10). Loss allowance The movement in the loss allowance for expected credit losses in respect to trade and other receivables during fiscal year 2024 and fiscal year 2025 was as follows:
Default risks from other financial instruments are immaterial. Financial risk management LuxExperience Group’s management has the overall responsibility to establish and oversee LuxExperience Group’s financial risk management. LuxExperience Group’s financial risk management policies are established to identify and analyze the risks faced by LuxExperience Group, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and LuxExperience Group’s activities. LuxExperience Group, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations. LuxExperience Group has exposure to the following risks arising from financial instruments: Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates or interest rates will affect LuxExperience Group’s income or the value of its financial instruments. LuxExperience Group manages its market risk on a centralized basis with the objectives of managing and controlling market risk exposures within acceptable parameters. Currency risk Currency risks exist in particular where trade receivables, trade payables, cash and cash equivalents and planned transactions are not or will not be denominated in Euro and based on the financial currency of the subsidiaries. LuxExperience Group generates net sales in several different currencies, mostly denominated in either Euro or U.S. Dollars. LuxExperience Group economically hedged its net foreign currency exposure at around 50%, by entering into foreign exchange hedging transactions with a maximum duration of one year. LuxExperience Group applied hedge accounting to these transactions during fiscal year 2025. As of June 30, 2025 and 2024, LuxExperience Group has no derivatives outstanding. The following tables show the impact to profit or loss if the foreign currencies would increase or decrease against the Euro (foreign exchange sensitivity), based on the exposures in GBP, U.S. Dollars and AED as of the reporting date.
Interest rate risk The fair value of our cash and cash equivalents that were held primarily in cash deposits would not be significantly affected by either an increase or decrease in interest rates due to the short-term nature of these instruments. We do not expect that interest rates will have a material impact on our results of operations as the financing is completely based on EUR interest rates. Interest expense under our Revolving Credit Facilities is historically immaterial. Liquidity risk Liquidity risk is the risk that LuxExperience Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. LuxExperience Group monitors the level of expected cash inflows on trade and other receivables together with expected cash outflows on trade and other payables to ensure that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or creating other risks. Cash inflow from trade receivables are received usually within week. Mid-to long-term payment terms with suppliers compensate for risks arising from financing of inventories. LuxExperience Group has revolving credit facilities in place to balance monthly cash flow volatility, including a €100 million syndicated facility with Commerzbank, UniCredit and J.P. Morgan, maturing in September 2027, and a €100 million facility with Richemont International Holding S.A maturing in 2031. As of June 30, 2025, LuxExperience Group had drawn €10.0 million in cash under the €100.0 million Syndicated RCF. In addition, €10.2 million of the credit line was utilized in the form of guarantees issued under the same facility. The following table details undiscounted contractually agreed future cash outflows from financial liabilities. Maturity analysis of financial liabilities as of June 30, 2024:
Maturity analysis of financial liabilities as of June 30, 2025:
Credit risk Credit risk is the risk of financial loss to LuxExperience Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. Credit risk includes both the immediate default risk and the danger of a decline in the customer’s credit worthiness. LuxExperience Group’s exposure to credit risk is limited, as the goods are not delivered until payment by the customer has been confirmed. Trade receivables are only generated via online and in-store sales, where customers pay the invoice amount by credit card or a comparable payment method. Due to these advanced payments, LuxExperience Group does not face significant credit risk related to its customers. LuxExperience Group also has no significant credit risk towards credit card companies, which only act as intermediaries for customer payment transactions. However, credit risk might occur in case of credit card fraud. LuxExperience Group has a team within its finance function, which is in charge of detecting early-stage credit card fraud. Credit card fraud is considered objective evidence of impairment for which LuxExperience Group recognizes lifetime ECL. LuxExperience Group is exposed to credit risk on cash and cash equivalents, which it monitors centrally. LuxExperience Group maintains its cash deposits at financial institutions with top credit ratings. The creditworthiness of these financial institutions is constantly monitored. LuxExperience Group considers that its cash and cash equivalents have low credit risk based on the external credit ratings of these financial institutions. The loss allowance is immaterial. The following table provides the gross carrying amounts of cash and cash equivalents by ratings as of June 30, 2024 and 2025:
Rating Class 1 reflects financial institutions based in the European Union; Rating Class 2 are financial institutions, with a bank license e.g. PayPal; Class 3 positions with cash held on hand and financial institutions outside the European Union. The movement in the loss allowance for expected credit losses in respect to trade and other receivables was €0 thousand in fiscal year 2025 and fiscal year 2024. Default risks from other financial instruments are immaterial. Capital risk management LuxExperience Group’s objective when managing capital is to safeguard LuxExperience Group’s ability to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. LuxExperience Group is not subject to any externally imposed capital requirements. |
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Notes to the consolidated statement of cash flows |
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| Notes to the consolidated statement of cash flows | 30. Notes to the consolidated statement of cash flows
As of June 30, 2025, LuxExperience Group cash equivalent balances are available for use. |
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Events after the reporting year |
12 Months Ended |
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Jun. 30, 2025 | |
| Events after the reporting year | |
| Events after the reporting year | 31. Events after the reporting year Updates to the Company’s Transformation Plan On September 3, 2025, the Company announced that, as part of its transformation plan for YNAP, it is considering efficiency measures that may include a partial reduction of the workforce across several sites in Italy, the United Kingdom, the United States and other jurisdictions. Based on current assessments, these measures could potentially affect up to approximately 700 employees. These contemplated actions remain subject to applicable information and consultation processes with employee representatives in each jurisdiction. No decisions have been finalized, and the ultimate scope, timing and financial impact of any workforce adjustments may differ from the figures currently under discussion. As the announcement of these potential measures and commencement of consultation processes occurred after the reporting date of 30 June 2025, no provision has been recognized in these financial statements. The Group expects to incur restructuring expenses of between €22 million and €30 million worldwide in connection with the planned reduction of the workforce during fiscal year 2026, including employee termination benefits and other related costs. Anticipated Disposal of Specific Assets and Liabilities Relating to THE OUTNET Subsequent to the reporting date of June 30, 2025, we commenced a strategic evaluation of a potential divestiture involving THE OUTNET business, one of two business comprised in our “Off-Price” segment, which was acquired during the 2025 fiscal year. THE OUTNET was identified during the post-acquisition integration process as non-core to our long-term strategic objectives. As of the date of authorization of these financial statements, LuxExperience is in the final stages of negotiations with a potential acquirer who has submitted a binding offer to purchase a defined group of assets and liabilities. The transaction is expected to be settled in cash, with the final purchase price still subject to ongoing negotiations and to be disclosed upon signing of the agreement. As of the reporting date, 30 June 2025, the sale was not committed nor was it known to management. Accordingly, the criteria for classification as ‘held for sale’ under IFRS 5 – Non- current Assets Held for Sale and Discontinued Operations were not met at the balance sheet date. The assets were therefore not classified as held for sale as at 30 June 2025. The anticipated sale represents a non-adjusting event after the reporting period under IAS 10 - Events After the Reporting Period, as the decision to sell the assets was made after the end of the reporting period and did not provide evidence of conditions that existed at 30 June 2025. The financial statements for the year ended 30 June 2025 have therefore not been adjusted to reflect this transaction. Supplier Cash Guarantee In June 2025, the Group entered into a new agreement that requires a €10 million cash deposit as a guarantee. The deposit was made after June 30, 2025, and represents a material cash outflow disclosed as a non-adjusting subsequent event in accordance with IAS 10. |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | LuxExperience believes that managing cybersecurity, privacy, and data protection and security risk is a vital part of LuxExperience´s responsibilities to the Company´s customers, partners, and employees, and have implemented several cybersecurity processes, technologies, and controls to identify and manage these risks. Risk Management and Strategy LuxExperience’s internal audit function, with primary oversight by the Audit Committee, assesses key risks facing the organization across functions and regions. The Management Board is tasked with ensuring risks, including those related to cybersecurity, are properly managed or mitigated and aligning strategic objectives with an appropriate level of risk tolerance. The Chief Technology Officer (CTO) as part of the Cybersecurity Steering Committee, and the Company´s internal Incident Response Team (IRT) operationalize the cyber risk management requirements across the Company and conduct cyber risk identification, assessment, management, monitoring, tracking, and reporting. The Cybersecurity Steering Committee is comprised of the Company´s Chief Operating Officer (COO), CTO, Head of Infrastructure and Security, Director of Engineering, Teamlead Site Reliability Engineering and the IT Senior Security Manager. The IRT is comprised of the IT Services, Compliance, Legal, IT Infrastructure & Security and Finance department. The Cyber Risk Management, Strategy Governance, and Incident Disclosure Policy provides the governance and framework for the Company´s risk management. The privacy/data protection is built upon the privacy principles of transparency, purpose, control, security, embedded privacy, and accountability, which are set out in LuxExperience Group Privacy Policy. The Compliance Officer as well as the external Data Protection Officer are responsible for identifying, mitigating or managing, and reporting on data protection risks. LuxExperience is leveraging the National Institute of Standards and Technology (NIST) frameworks for cybersecurity. These NIST frameworks helps the Company to align the security functions and provides a holistic risk management framework across LuxExperience. The Company regularly reviews its security and privacy program maturity as well as the current state against these frameworks in monthly cybersecurity steering committee meetings. The results of these assessments are discussed with the Management. LuxExperience develops and executes implementation plans to advance the Company´s program maturity, aligning with the group risk management practice. As part of the Company’s risk management strategy, LuxExperience requires that all employees complete the data protection and information security trainings. In addition, the Company will run ongoing cybersecurity awareness campaigns by the IT Infrastructure & Security team using posters, phishing campaigns, newsletters, webinars and other communication channels to keep cybersecurity top of mind for all employees. LuxExperience IT Infrastructure & Security team engage in threat intelligence, predictive modeling, and penetration testing to reduce the risk of incidents. In addition, these teams have established procedures for detecting, mitigating, and remediating cybersecurity incidents, and processes for personnel to escalate incidents within the organization. LuxExperience´s internal audit function conducts an assurance process on the effectiveness of the cybersecurity process and the data protection training during the annual audit procedures. Our cybersecurity systems are also independently assessed regularly by a third party and potential improvements are implemented accordingly. The Company relies on certain third-party computer systems and third-party service providers in connection with providing some of the Company’s services. LuxExperience also depends upon various third parties to process payments, including credit cards, for customer transactions around the world. For payment transactions LuxExperience fully relies on third party payment providers and does not store payment data itself. Regardless, all payment security compliance is regulated and assessed annually as part of the PCI standard, LuxExperience complies with. For all relevant third-party computer systems as well as third-party service providers, LuxExperience implemented controls over the adequacy of those systems and providers in the internal control system, which will be subject to regular testing by the internal audit function. Furthermore, the Management Board including the relevant risk owners, review the Company´s risk inventory on a bi-annual basis. Although the Company dedicates significant resources to protect against security breaches, constantly works on the improvement on rule adjustments and other security measures, the existing security measures may not be successful in preventing certain attacks on the systems. The Company continuously experiences targeted and organized malware, phishing, account takeover attacks, and denial-of-service type attacks on the Company’s systems, for FY25 none of them had any material impact on the Company. For further discussion of how these and other potential cybersecurity, technology and data privacy risks may impact LuxExperience´s business, see Item 3, Item D Risk Factors. |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | LuxExperience believes that managing cybersecurity, privacy, and data protection and security risk is a vital part of LuxExperience´s responsibilities to the Company´s customers, partners, and employees, and have implemented several cybersecurity processes, technologies, and controls to identify and manage these risks. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Governance The Management Board and Audit Committee maintain responsibility for LuxExperience risk oversight related to cybersecurity, privacy, and data protection and security. The Audit Committee has delegated the primary responsibility for oversight of compliance and risk management efforts and processes related to cybersecurity, data protection and security, and privacy to the Cybersecurity Steering Committee and the IT Infrastructure & Security team, which was established in 2023. The Cybersecurity Steering Committee oversees management’s efforts and processes to identify, assess, manage, and monitor significant cybersecurity and privacy risks and regulatory developments in this area, and reports periodically on these matters to the Audit Committee and Management Board. Management’s cybersecurity and privacy efforts are led by the Chief Technology Officer and the Compliance Officer, respectively, and together they have the group-wide responsibility for assessing and managing cybersecurity, data protection and security, and privacy risks. LuxExperience´s Chief Technology Officer has over 19 years’ experience in the security industry and has previously served in various information technology and risk management roles, including as Senior Director of Risk and Technology and Vice President of Technology of two public companies. LuxExperience´s Compliance Officer held positions as General Counsel, In-house Lawyer, and Compliance Officer with over 9 years’ experience. In addition, the Company´s external Data Protection Officer works together with the Cybersecurity Steering Committee, the IT Infrastructure & Security team and the Compliance Officer to monitor internal and external risks and align strategies to mitigate and remediate data protection risks. LuxExperience´s Chief Technology Officer, Compliance Officer, IT Infrastructure & Security Team and members of their teams meet to discuss the Company’s cybersecurity and data protection risk exposures, including the steps management has taken to monitor and mitigate such exposures and their potential impact on the Company’s business, operations, and reputation. The Chief Technology Officer then periodically provides updates on these discussions to the Supervisory Board/Audit Committee during the technology update session of the board meeting and to the Management Board during the IT Steering Committee meeting and reports periodically on these matters to the Management Board, the Audit Committee and the Supervisory Board. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | Management Board and Audit Committee |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Management Board and Audit Committee maintain responsibility for LuxExperience risk oversight related to cybersecurity, privacy, and data protection and security. The Audit Committee has delegated the primary responsibility for oversight of compliance and risk management efforts and processes related to cybersecurity, data protection and security, and privacy to the Cybersecurity Steering Committee and the IT Infrastructure & Security team, which was established in 2023. The Cybersecurity Steering Committee oversees management’s efforts and processes to identify, assess, manage, and monitor significant cybersecurity and privacy risks and regulatory developments in this area, and reports periodically on these matters to the Audit Committee and Management Board. |
| Cybersecurity Risk Role of Management [Text Block] | Management’s cybersecurity and privacy efforts are led by the Chief Technology Officer and the Compliance Officer, respectively, and together they have the group-wide responsibility for assessing and managing cybersecurity, data protection and security, and privacy risks. LuxExperience´s Chief Technology Officer has over 19 years’ experience in the security industry and has previously served in various information technology and risk management roles, including as Senior Director of Risk and Technology and Vice President of Technology of two public companies. LuxExperience´s Compliance Officer held positions as General Counsel, In-house Lawyer, and Compliance Officer with over 9 years’ experience. In addition, the Company´s external Data Protection Officer works together with the Cybersecurity Steering Committee, the IT Infrastructure & Security team and the Compliance Officer to monitor internal and external risks and align strategies to mitigate and remediate data protection risks. LuxExperience´s Chief Technology Officer, Compliance Officer, IT Infrastructure & Security Team and members of their teams meet to discuss the Company’s cybersecurity and data protection risk exposures, including the steps management has taken to monitor and mitigate such exposures and their potential impact on the Company’s business, operations, and reputation. The Chief Technology Officer then periodically provides updates on these discussions to the Supervisory Board/Audit Committee during the technology update session of the board meeting and to the Management Board during the IT Steering Committee meeting and reports periodically on these matters to the Management Board, the Audit Committee and the Supervisory Board. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | the Chief Technology Officer and the Compliance Officer |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | LuxExperience´s Chief Technology Officer has over 19 years’ experience in the security industry and has previously served in various information technology and risk management roles, including as Senior Director of Risk and Technology and Vice President of Technology of two public companies. LuxExperience´s Compliance Officer held positions as General Counsel, In-house Lawyer, and Compliance Officer with over 9 years’ experience. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | LuxExperience´s Chief Technology Officer, Compliance Officer, IT Infrastructure & Security Team and members of their teams meet to discuss the Company’s cybersecurity and data protection risk exposures, including the steps management has taken to monitor and mitigate such exposures and their potential impact on the Company’s business, operations, and reputation. The Chief Technology Officer then periodically provides updates on these discussions to the Supervisory Board/Audit Committee during the technology update session of the board meeting and to the Management Board during the IT Steering Committee meeting and reports periodically on these matters to the Management Board, the Audit Committee and the Supervisory Board. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Scope of Consolidation and Summary of Material Accounting Policies (Policies) |
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| Current versus non-current classification | a)Current versus non-current classification LuxExperience Group classifies assets and liabilities by maturity. They are regarded as current if they mature within one year or within the normal operating business cycle of LuxExperience Group. The normal operating business cycle, which is less than one year, begins with the procurement of inventory and ends with the receipt of cash or cash equivalents as consideration for the sale of inventory. Inventories, trade and other receivables, and trade and other payables are always presented as current items. |
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| Foreign currency translation | b)Foreign currency translation LuxExperience Group’s consolidated financial statements are presented in Euro. For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. Functional currency is defined as the currency of the primary economic environment in which each entity operates. The assets and liabilities of entities with a functional currency other than the Euro, are translated into Euro at the exchange rates at the reporting date. The income and expenses of such companies are translated into Euro at the exchange rates at the dates of the transactions. Foreign currency translation differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve. For entities with Euro as their functional currency, transactions denominated in foreign currencies are translated at the exchange rates prevailing on the date of transaction. Balance sheet items denominated in currencies other than Euro, are translated at the closing rate for each reporting period, with resulting translation differences recognized within finance expenses, net. |
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| Revenue recognition | c)Revenue recognition All revenue generated by LuxExperience Group is included within net sales on the consolidated statement of profit or loss and comprehensive income or loss. LuxExperience Group generates revenue primarily from the sale of merchandise shipped to customers. In addition, LuxExperience also recognizes commission revenue for the rendering of services resulting from its Curated Platform Model (CPM), other commission-based services and certain Online Flagship Stores (OFS). Furthermore, LuxExperience generates additional revenue from advertising services, which represent an immaterial portion of total revenues compared to the primary revenue streams described above. Management applies the following five step model when determining the timing and amount of revenue recognition:
All revenues of LuxExperience Group qualify as contracts with customers and fall in the scope of IFRS 15. LuxExperience Group recognizes revenues to reflect the transfer of goods or services to customers at an amount that represents the consideration the entity expects to receive including fixed amounts, variable amounts or both, such as returns, rebates and discounts. Shipping and payment costs consist primarily of shipping fees paid to our delivery providers, packaging costs, delivery duties paid for international sales and payment processing fees paid to third parties. Shipping and payment costs fluctuate based on the number of orders shipped. Retail sales LuxExperience acts as a principal and sells merchandise through its online website as well as physical stores. Revenue is recognized when control of the goods is transferred to the customer, which occurs upon delivery to the customer or point of sale for sales in physical stores. Goods sold for online sales to the customers can in most cases be returned or exchanged within 14 to 30 days of receipt of the goods based on the General Terms and Conditions. For expected returns, LuxExperience Group recognizes a refund liability as a reduction of revenue and a corresponding right of return asset as reduction of cost of sales, based on actual returns as of the date of authorization for issue of the financial statements as well as and expected future return rates that is derived from historical data. Delivery occurs when the products have been shipped to the specific location, the risks of loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or LuxExperience Group has objective evidence that all criteria for acceptance have been satisfied. A contract liability is therefore recognized for products which have been shipped, but delivery to the customer has not yet occurred. The related revenue is recognized when the customer obtains control of the product. A contract liability is also recognized from the sale of gift cards and vouchers. As the entity expects to be entitled to a breakage amount, it recognizes the expected breakage amount as revenue in proportion to the pattern of rights exercised by the customer. The expected breakage is based on historical data adjusted for current expectations. LuxExperience Group assesses all promised goods and services and identified performance obligations at contract inception. Contracts with customers include single performance obligation, for example, the sale of a distinct bundle of goods, including related activities to provide these goods and services (packaging, shipping, credit card processing, settlement of duties and other transaction processing activities). As these related activities are not distinct performance obligations, revenue for these services is recognized concurrently with the delivery of the product. No element of financing is deemed present as sales require immediate upfront payment from the customer, and satisfaction of the performance obligation is within a short period of time, which is consistent with market practice. Variable consideration might occur in form of promotional discounts, discounts and right of returns or return vouchers. LuxExperience Group includes variable consideration estimated in accordance with IFRS 15.53 in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. As the contracts include only a single performance obligation, the transaction price is allocated to that performance obligation. Commission sales This revenue stream is related to the sale of goods which are stored in LuxExperience’s warehouses but not owned by LuxExperience as a transfer of ownership to LuxExperience does not happen (e.g. the Curated Platform Model (CPM), which provides sellers (brand partners) the ability to sell their goods to customers on the Mytheresa platform.) In this case, LuxExperience generates a commission fee (normally a percentage of the selling price), which is based on agreements with brand partners. LuxExperience’s performance obligation with respect to these transactions is to arrange the transaction through its online platform and to provide related services, which include shipping and payment-related activities. Those are not considered separate promises to the end customer and therefore the revenue recognition of the related fees occurs concurrently with the commission which is when goods are delivered to the end customer. However, the Group does not obtain control over the goods in advance of transferring the goods to the end customer and does not have any discretion in setting the price of the goods to be sold, nor does it bear the inventory risk for the goods to be shipped to the customer. As such, the Group is considered to be an agent in these transactions and recognizes revenue on a net basis for the agreed upon commission at the point in time when the goods are delivered to the end customer. For expected returns, LuxExperience Group recognizes a refund liability for commissions that will be refunded upon return of the goods. |
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| Intangible assets and goodwill | d)Intangible assets and goodwill LuxExperience Group’s intangible assets and goodwill primarily result from the acquisition of the Mytheresa operations by Mytheresa Group GmbH (“MGG”) in 2014. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any. The useful life of intangible assets is assessed as either finite or indefinite. Intangible assets with a finite useful life Intangible assets with a finite useful life consist of licenses and software. Development costs for internally generated intangible assets are only capitalized if the recognition criteria in IAS 38 are met. Intangible assets with a finite life are amortized over their estimated useful economic life on a straight-line basis and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method of intangible assets with a finite useful life are reviewed at least annually, with any changes treated as changes in accounting estimates. Changes in the expected useful life or the expected pattern of consumption of the assets’ future economic benefits are considered when assessing the amortization method and useful life of the asset. Amortization expense on intangible assets with finite lives is recognized in the consolidated statement of profit or loss and comprehensive income or loss within depreciation and amortization. The estimated useful life of licenses is based on the contractual term period and for software is typically three years. Intangible asset with indefinite life LuxExperience Group recognizes trademarks intangible assets for Mytheresa brand names. As the trademarks are core to the business and as there is no foreseeable limit to the future cash flows generated by the intangible asset, trademarks are assessed as indefinitely lived. LuxExperience Group assesses trademarks for impairment and potential changes in useful life annually in the fourth fiscal quarter, or when an event becomes known that may trigger impairment. Goodwill LuxExperience Group’s goodwill originated from the MGG acquisition in 2014 and represents the difference between the purchase price and the net identifiable assets acquired. Goodwill is not amortized but reviewed for impairment at least annually. LuxExperience Group consists of cash-generating units (“CGUs”), which represent the lowest level at which goodwill is monitored for internal management purposes. Any potential impairment of goodwill is identified by comparing the recoverable amount of a CGU to its carrying value. Goodwill is reduced by the amount of impairment, if any. If the impairment exceeds the carrying amount of goodwill, the carrying values of the remaining assets in the CGU are reduced by the excess on a pro-rata basis. The Company tests goodwill for impairment annually in the fourth fiscal quarter of the year, or when an event becomes known that may trigger impairment. |
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| Property and equipment | e)Property and equipment Property and equipment is stated at historical cost, net of accumulated depreciation and accumulated impairment losses, if any. Historical cost includes any expenditures that are directly attributable to the acquisition of the asset, including costs incurred to prepare the asset for its intended use. Property and equipment is depreciated on a straightline basis over each asset’s expected useful life. When significant parts of a fixed asset have different useful lives, they are accounted for as separate components and depreciated separately. Depreciation methods, useful lives and residual values are reviewed at least annually and adjusted prospectively, if appropriate. LuxExperience Group applies the following useful lives when estimating depreciation of property and equipment, net:
Construction in progress are being capitalized but not depreciated yet. If a leasehold improvement is expected to be in use after the expected expiration date of its associated lease, then it is depreciated over its estimated useful life. All repair and maintenance costs are expensed when incurred. LuxExperience Group assesses property and equipment, net for impairment whenever there is an indication of potential impairment. |
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| Leases | f)Leases The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at inception. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. LuxExperience Group assesses at the inception of the contract whether the contract is or contains a lease. LuxExperience Group’s leases consist of real estate,company cars and equipment. Lease terms are negotiated on an individual basis and may contain a range of different terms and conditions. Lease contracts may be negotiated for fixed periods or include extension options. To determine the lease terms, all facts and circumstances which offer economic incentives to exercise extension options are included. If it is reasonably certain that a lease term will be extended, the related extension option is included. The lease terms include fixed payments as well as variable payments that depend on an index. Extension options are included in the determination of the lease liability to the extent that it is reasonably certain that those options will be exercised by LuxExperience Group. Management of LuxExperience Group reviews forecasts, planned growth and facility capacity when determining whether an extension option is reasonably certain to be exercised. The lease liability is subsequently measured as the present value of the expected lease payments. To determine the present value, LuxExperience Group discounts the remaining lease payments with the incremental borrowing rate of the lessee. The incremental borrowing rate is the interest rate that LuxExperience Group would be required to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset as the underlying lease agreement in a similar economic environment. LuxExperience Group applied incremental borrowing rates between 0.96% and 7.5% for the periods presented. Right-of-use assets are measured at cost at the date of lease commencement. The cost is comprised of the initial lease liability measurement and any lease payments made before the commencement date, less any lease incentives received and estimated cost of dismantling and removing the underlying asset incurred by the lessee. After the commencement date, LuxExperience Group measures right-of-use assets at cost less accumulated depreciation and any accumulated impairment losses. For subsequent measurement, the carrying amount of the lease liability is increased to reflect the interest on the lease liability and reduced to reflect the lease payments made. The finance expenses associated with the lease term are recognized in the consolidated statement of profit or loss and comprehensive income or loss over the lease term. To date, no impairment losses have been identified on LuxExperience Group’s right-of-use assets. LuxExperience Group elected to apply the exemptions for short-term leases and low-value leases in accordance with IFRS 16. Short-term leases are leases with a duration of 12 months or less from the date of the inception. Low value leases are leases of equipment with contract amounts below EUR 10 thousand. Lease payments associated with short-term leases or low value leases are expensed on a straight-line basis over the lease term. Accordingly, no right-of-use assets or lease liabilities are recognized for short-term leases or low value leases. |
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| Inventories and Cost of Sales | g)Inventories and Cost of Sales Inventories are measured at the lower of cost and net realizable value. The cost of inventories in the Luxury | Mytheresa and Luxury | NAP & MRP segments is determined using the weighted average cost method. Within the Off-Price | YOOX & THE OUTNET segment, inventories of the Outnet are also measured using the weighted average cost method, while inventories of YOOX are measured using the retail inventory method. Under the retail inventory method, cost is determined by applying a cost-to-retail percentage across groupings of similar items, which are defined as individual purchases from suppliers and purchases made in bulk. The cost-to-retail percentage is applied to ending inventory at its current owned retail valuation to determine the cost of ending inventory for each grouping. In applying the retail inventory method, the Group establishes reserves to reduce the carrying amount of inventories to net realizable value based on current selling prices when items have not yet been marked down to market. Costs of purchased inventory are determined net of applicable rebates and discounts.Inventory is written down when its net realizable value is below its carrying amount. LuxExperience 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. When circumstances that previously caused inventories to be written down below cost no longer exist or when there is clear evidence of an increase in selling prices, the amount of the write-down previously recorded is reversed. The carrying amount of inventories is expensed as inventories are sold and recognized in cost of goods sold. Write-downs to net realizable value and losses are expensed in the period they occur. Any reversal of write-downs is recognized in the period the reversal occurs. Cost of sales, exclusive of depreciation and amortization includes the cost of merchandise sold, net of trade discounts, in addition to inventory write-offs and delivery costs of product from our brand partners to our distribution centers, where we act as the principal. These costs fluctuate with changes in net sales and changes in inventory write-offs due to inventory aging. For commission sales, we do not incur cost of sales as the purchase price of the goods sold is borne by the brand partner. |
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| Financial instruments-Initial recognition and subsequent measurement | h)Financial instruments—Initial recognition and subsequent measurement A financial instrument is any contract that gives rise to a financial asset of one party and a financial liability or equity instrument of another party. These include both non-derivative financial instruments, such as trade and other receivables and payables, and derivative financial instruments, such as foreign exchange contracts. Financial instruments are recognized when LuxExperience Group becomes party to the contractual provisions of the financial instrument. Generally, purchases and sales of financial assets are initially recognized at the settlement date. Upon initial recognition, all financial assets and financial liabilities are measured at fair value plus or minus any directly attributable transaction costs, unless a financial instrument is classified at fair value through profit or loss. LuxExperience Group categorizes all financial assets and financial liabilities at initial recognition. LuxExperience Group generally do not require collateral or other security from our customers. Measurement categories Financial assets and financial liabilities are grouped into the following categories according to IFRS 9:
Classification of financial assets depends on the business model used for managing financial assets and on the characteristics of the contractual cash flows involved. Financial assets are classified within AC category only when they are held exclusively to collect the contractual cash flows and when their contractual terms comprise cash flows that are solely payments of principal and interest on the principal amount outstanding. With the exception of derivatives, all financial assets are classified at AC. Cash and cash equivalents consist of cash held at banks or financial institutions, with a bank license e.g. PayPal and cash on hand. Trade and other receivables are generally accounted for at AC less any impairment using the simplified approach. Deposits granted for rent which are not related to credit lines are recorded under Non-current financial assets as restricted cash since they are not available for use in the operating business of LuxExperience Group. Non-current financial assets are recognized at nominal value. Financial liabilities are generally classified at amortized cost. There are some exceptions, for example financial liabilities at fair value through profit or loss including derivatives not designated as hedging instruments. Financial liabilities need to be analyzed to determine whether they contain any embedded derivative. If the embedded derivative is not closely related to the host contract, such derivatives must be separated and be accounted for separately at FVPL. Subsequent measurement Financial assets and financial liabilities in the AC category are subsequently measured using the effective interest method. Using the effective interest method, all directly attributable fees, consideration paid or received, transaction costs and other premiums or discounts included in the calculation of the effective interest rate are amortized over the expected term of the financial instrument. Interest income and expenses from the application of the effective interest method are presented as finance income, net in the consolidated statement of profit or loss and comprehensive income or loss. Financial assets and financial liabilities in the FVTPL category are subsequently measured at fair value, with changes in value recognized in the consolidated statement of profit or loss and comprehensive income or loss. Impairment The Group applies the simplified approach in accordance with IFRS 9.5.5.15 for its trade receivables where the loss allowance is always measured at an amount equal to lifetime expected credit losses. Each exposure is allocated to a credit risk grade based on data that is determined to be predictive of the risk of loss (including but not limited to external ratings, audited financial statements, management accounts and cash flow projections and available press information about customers). Credit risk grades are defined using qualitative and quantitative factors that are indicative of the risk of default. Exposures within each credit risk grade are segmented by geographic region and industry classification and an ECL rate is calculated for each segment based on delinquency status and actual credit loss experience over the past years. These rates are adjusted to reflect differences between economic conditions during the period over which the historical data has been collected, current conditions as well as the Group’s view of economic conditions over the expected life of the receivables. LuxExperience Group considers a financial asset to be in default when:
LuxExperience Group applies this general approach for cash and cash equivalents as well as other assets. These assets are considered to have a low credit risk when the issuer has a strong capacity to meet its contractual cash flow obligations in the near term. Cash and cash equivalents are only placed at banks and financial institutions with a bank license with credit ratings of investment grade or higher. Rental deposits are trust assets that, in case of a default of the counterparty, are separated from insolvency estate and are paid back primarily. Considering that, the impairment for these assets is not material. Hedge Accounting LuxExperience Group is exposed to currency risks as a result of participating in business activities outside the Euro zone. LuxExperience Group uses selected foreign currency forward contracts to hedge and thus limit currency risks from sales in foreign currencies. The sales are hedged each fiscal year so that no forward contracts are still in place at the balance sheet date. Currency risks are managed centrally within LuxExperience Group. Regular reports on the Group-wide development of risks and open positions with currency risk are made. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. LuxExperience Group only enters into foreign exchange derivatives (“foreign exchange forwards”) that are all designated as hedges of the foreign currency risk associated with the cash flows of highly probable forecast sales denominated in foreign currency. LuxExperience Group determines the existence of an economic relationship between the hedging instrument and the hedged underlying sales transaction on the basis of the currency, amount and timing of their respective cash flows. As changes in the cash flows of the hedging instrument offset changes in the cash flows of the hedged transaction offset, the relationship is effective. Potential sources of ineffectiveness are changes of the payment dates or a reduction in the total amount of the hedged item and a significant change of the credit risk of either party to the hedging relationship. Ineffective cash flow hedges in the periods presented were immaterial. At the inception of a hedge relationship, LuxExperience Group documents the economic relationship between the hedging instruments and hedged items, including whether changes in the fair value of the hedged items are offset by changes in the fair value of the hedging instruments. LuxExperience Group documents its risk management objective and strategy for undertaking its hedging transactions. Detailed information on risk management and risks arising from LuxExperience Group’s financial instruments can be found in Note 29. A hedging relationship qualifies for hedge accounting only if all of the following requirements for hedge effectiveness are met: there is an economic relationship between the hedged item and the hedging instrument, the effect of the credit risk does not dominate the changes in value that result from this economic relationship, the hedging relationship is the same as that which results from the amount of the hedged item that the Company actually hedges and the amount of the hedging instrument that the Company actually uses to hedge that amount of the hedged item. Hedging instruments are expected to be highly effective in achieving offsetting changes in cash flows. Hedging instruments are reviewed on an ongoing basis to determine that they have actually been highly effective throughout the financial year for which they are designated. LuxExperience Group applies cash flow hedge accounting, whereby the spot component of the forward exchange contracts is designated as the hedging instrument. The effective portion of changes in the fair value of the designated cash component is recognized in the hedge reserve in other comprehensive income (“OCI I”, “cash flow hedge reserve”) within equity. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss. In addition, LuxExperience Group recognizes changes in fair value related to the forward element in other comprehensive income (“OCI II”, “Cost of Hedging Reserve”) within equity. Amounts accumulated in equity are reclassified in the periods in which the hedging instrument affects profit or loss. Application of hedge accounting in fiscal year 2025 resulted in a €953 thousand decrease to net sales. If hedge accounting had not been applied, the amounts would have been recognized immediately within other income (expense), as free-standing derivatives. Derecognition A financial asset is derecognized when the contractual rights to receive cash flows from the financial assets have expired or have been transferred and LuxExperience Group substantially transferred all rewards and risks associated with the ownership. In the case of sales of trade receivables, essentially all rewards and risks are transferred to the buyer of the receivables. Financial liabilities are derecognized when the obligation under the liability is settled, cancelled or expired. Fair value measurement Fair value is the price that would be received to sell an asset or paid to settle or transfer a liability in an orderly transaction between market participants as of the measurement date in the principal or, in its absence, the most advantageous market to which LuxExperience Group has access at that date. The fair value of a liability reflects its non-performance risk. A number of LuxExperience Group’s accounting policies and disclosures require the measurement of fair value for both financial and non-financial assets and liabilities. LuxExperience Group measures the fair value of an instrument using the quoted price in an active market for that instrument, if such price is available. A market is regarded as “active” if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, then LuxExperience Group uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all factors that market participants would take into account in pricing a transaction. Based on the input parameters used for valuation the fair values have to be assigned to one of the following levels of the fair value hierarchy:
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. no of the fair value hierarchy as of June 30, 2024 and June 30, 2025. LuxExperience Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period. |
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| Provisions | i)Provisions LuxExperience Group recognizes provisions when it has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The increase in provision due to the passage of time is recognized as finance expenses. |
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| Income taxes | j)Income taxes Current income taxes Current income tax is the expected tax payable or receivable based on the taxable income or loss for the period and the tax laws that have been enacted or substantively enacted as of the reporting date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes tax liabilities where appropriate on the basis of amounts expected to be paid to the tax authorities. In case of uncertainties related to income taxes, they are accounted for in accordance with IFRIC 23 and IAS 12 based on the best estimate of those uncertainties. Current income taxes are calculated based on the respective local taxable income and local tax rules for the period. In addition, current income taxes presented for the period include adjustments for uncertain tax payments or tax refunds for periods not yet finally assessed, however, excluding interest expenses and interest refunds and penalties on the underpayment of taxes. In cases for which it is probable that amounts declared as expenses in the tax returns might not be recognized (uncertain tax positions), a liability for income taxes is recognized. The amount is based on the best estimate of the expected tax payment (expected value or most likely amount). Deferred taxes Deferred taxes are recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable income and are accounted for using the balance sheet-liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences and deferred tax assets are recognized to the extent that it is probable that taxable income will be available against which deductible temporary differences can be utilized. Current and deferred tax is charged or credited in the consolidated statement of profit or loss and comprehensive income or loss, except when it relates to items charged or credited directly to equity, in which case the current or deferred tax is also recognized directly in equity. Deferred tax assets or liabilities are calculated on the basis of temporary differences between the tax basis and the financial reporting of assets and liabilities including differences from consolidation and on unused tax losses carried forward. For this purpose, deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets are recognized to the extent that it is probable that there will be future taxable income available against which the deductible temporary differences and tax-losses carried forward can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the asset to be recovered. LuxExperience Group establishes tax liabilities on the basis of expected tax payments. Liabilities for trade taxes, corporate taxes and similar taxes on income are determined based on the taxable income of the consolidated entities less any prepayments made. Calculation of tax liabilities is based on the recent tax rates applicable in the tax jurisdiction of LuxExperience Group. |
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| Segment reporting | k)Segment reporting An operating segment is a component of LuxExperience Group that engages in business activities from which it may earn revenues and incur expenses and for which discrete financial information is available and used by the Chief Operating Decision Maker (“CODM”) to make decisions around resource allocation and review operating results of LuxExperience Group. LuxExperience Group identified its Chief Executive Officer and Chief Financial Officer as the CODM, collectively. LuxExperience Group does not separately present net sales by product category, because such information is not maintained on a basis consistent with IFRS and the preparation of such information would be unduly costly. |
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| Impairment of non-financial assets excluding Goodwill and intangible assets | l)Impairment of non-financial assets excluding Goodwill and intangible assets LuxExperience Group assesses whether an asset may be impaired at each reporting date. If any indication of impairment exists, or when annual impairment testing for such an asset is required, LuxExperience Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal or its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. LuxExperience Group bases its impairment calculation on detailed budgets and forecasted cash flows, which generally cover a period of five years. Impairment losses are recognized in the consolidated statement of profit or loss and comprehensive income or loss in expense categories consistent with the function of the impaired asset. For assets excluding goodwill and indefinite lived intangible assets, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or has decreased. If such indication exists, LuxExperience Group estimates the asset’s or CGU’s recoverable amount. Impairment losses relating to goodwill cannot be reversed in future periods. |
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| Management equity incentive plan | m)Management equity incentive plan Share-based compensation arrangements The grant-date fair value of equity-settled share-based compensation arrangements granted to employees is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant-date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Cash-settled transactions For cash-settled share-based payments, a liability is recognized for the goods or services acquired, measured at the fair value of the liability. At each balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognized in profit or loss for the reporting period. See note 28 on share-based compensation for further details. The company intends to continue to settle all remaining awards in equity. |
Scope of Consolidation and Summary of Material Accounting Policies (Tables) |
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| Schedule of consolidated subsidiaries |
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| Summary of estimated useful lives of property and equipment |
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| Summary of new and revised standards and interpretations applied for the first time in the financial year |
The amendments included above do not have a material effect on the consolidated financial statements and thus no further details are disclosed. |
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| Summary of applicable issued but not yet effective accounting standards and amendments |
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Business combinations (Tables) |
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| YOOX Net-a-Porter Group S.p.A (YNAP) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Summary of identifiable assets acquired and liabilities assumed and bargain purchase |
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Segment and geographic information (Tables) |
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| Schedule of reconciliation of the Company's segment EBITDA to consolidated net income | The following is a reconciliation of the Company’s segment EBITDA to consolidated net income from the previous operating segments online operations and retail store to the newly combined operating segment Luxury | Mytheresa for the fiscal year ended June 30, 2023 and 2024, respectively.
The following is a reconciliation of the Company’s segment EBITDA to consolidated net income for the fiscal year ended June 30, 2025, in accordance with the revised segment structure following the YNAP Acquisition.
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| Schedule of of non-current assets excluding deferred tax assets by geographic location | Non-current assets excluding deferred tax assets:
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Selling, general and administrative expenses (Tables) |
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| Schedule of selling, general and administrative expenses |
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Other income (loss), net (Tables) |
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| Schedule of other net income |
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Finance income (costs), net (Tables) |
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| Schedule of finance expense, net |
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Income tax expense (Tables) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of income tax expense |
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| Schedule of reconciles the expected income tax expense amount |
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Earnings per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of earnings per share |
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| Summary of potential ordinary shares excluded from diluted earnings per share as their conversion would have an antidilutive effect | The following table provides a summary of potential ordinary shares that were excluded in fiscal years 2023, 2024 and 2025 due to their antidilutive effect for the diluted EPS (in millions):
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Net sales (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net sales by geographic location |
(1)No individual country other than Germany and the United States accounted for more than 10% of net sales. |
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Intangible assets and goodwill (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets and goodwill | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of intangible assets and goodwill |
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| Disclosure Of detailed information about change required for carrying amount to be equal to recoverable amount, explanatory |
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| Intangible assets with finite useful lives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets and goodwill | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of changes in intangible assets and goodwill |
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| Trademarks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets and goodwill | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of assumptions used for impairment testing indefinite-lived intangible assets |
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| Goodwill | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets and goodwill | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of assumptions used for impairment testing indefinite-lived intangible assets |
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Property and equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of changes in property and equipment |
|
Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of changes in right-of-use assets |
|
Other current and non-current assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other current and non-current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of other current assets and other non-current assets |
|
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Shareholder's equity (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholder's equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Ordinary Shares |
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Tax liabilities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of tax liabilities |
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Provisions (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provisions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of provisions |
|
Other liabilities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | ||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of other current liabilities |
|
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Deferred income tax assets and liabilities, net (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred income tax assets and liabilities, net | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in deferred tax balances through equity and profit or loss |
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| Schedule of deferred tax balances |
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Related party transactions (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related party transactions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of key management personnel compensation |
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Share-based compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of capital reserve related to stock options and restricted stock awards |
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| IPO Related One-Time Award Package | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of main features of share-based compensation arrangement |
|
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| Alignment Award | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans |
|
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| Summary of number and weighted-average exercise prices of share options |
|
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| Supervisory Board Award (Restricted Shares) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of main features of share-based compensation arrangement |
|
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| Long-Term Incentive Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of main features of share-based compensation arrangement |
|
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| Summary of inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans |
|
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| Summary of number and weighted-average exercise prices of share options |
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Financial instruments and financial risk management (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial instruments and financial risk management | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of financial instruments |
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| Summary of carrying amounts of financial instruments |
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| Summary of foreign exchange reserves affecting other comprehensive income |
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| Schedule of net gains and losses on financial instruments |
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| Schedule of movements in credit loss allowance for trade and other receivables |
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| Schedule of maturities of financial liabilities |
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| Summary of carrying amounts of cash and cash equivalents by ratings |
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| Currency risk | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial instruments and financial risk management | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of sensitivity to changes in Euro exchange rates |
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Notes to the consolidated statement of cash flows (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to the consolidated statement of cash flows | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of liabilities from financing activities |
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Corporate information (Details) - country |
Apr. 23, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|---|
| YOOX Net-a-Porter Group S.p.A (YNAP) | |||
| Disclosure of transactions between related parties | |||
| Percentage of ownership | 100.00% | ||
| Minimum number of countries covered by delivery network | 170 | ||
| MYT Holding LLC | |||
| Disclosure of transactions between related parties | |||
| Proportion of ownership interest in reporting entity | 48.60% | 77.90% | |
| Richemont italia Holding S.P.A | |||
| Disclosure of transactions between related parties | |||
| Proportion of ownership interest in reporting entity | 36.40% |
Scope of Consolidation and Summary of Material Accounting Policies - Estimated useful lives, goodwill and impairment (Details) |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Useful lives | |
| Period of budgets used for cash flow forecasts | 5 years |
| Software and license | |
| Useful lives | |
| Estimated useful life of intangible assets | 3 years |
| Minimum | Other fixed assets and office equipment | |
| Useful lives | |
| Estimated useful life of property and equipment | 3 years |
| Maximum | Other fixed assets and office equipment | |
| Useful lives | |
| Estimated useful life of property and equipment | 15 years |
Critical accounting judgments and key estimates and assumptions (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Apr. 23, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Cash flow forecast measurement period | 5 years | ||
| YOOX Net-a-Porter Group S.p.A (YNAP) | |||
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Fair value | € 0 | ||
| Identifiable net assets | 953,752 | ||
| Threshold net financial position | 555,000 | ||
| Consideration transferred | 330,221 | ||
| Bargain purchase gain | € 623,531 | € 623,500 | |
| Goodwill | |||
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Cash flow forecast measurement period | 5 years | ||
| Trademarks | |||
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Royalty rate | 2.00% | 2.00% | |
| Trademarks | YOOX Net-a-Porter Group S.p.A (YNAP) | |||
| Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
| Royalty rate | 0.00% |
Business combinations - Identifiable assets acquired and liabilities assumed (Details) - YOOX Net-a-Porter Group S.p.A (YNAP) € in Thousands |
Apr. 23, 2025
EUR (€)
|
|---|---|
| Business combinations | |
| Intangible assets | € 1,605 |
| Property and equipment | 19,993 |
| Right-of-use assets | 166,431 |
| Other non-current assets | 1,106 |
| Inventories | 648,225 |
| Trade and other receivables | 64,228 |
| Cash and cash equivalents | 621,352 |
| Other current assets | 83,640 |
| Provisions, non-current | (1,949) |
| Lease liabilities, non-current | (142,162) |
| Other liabilities, non-current | (706) |
| Provisions, current | (5,411) |
| Lease liabilities, current | (24,269) |
| Trade and other payables | (234,208) |
| Contract liabilities | (31,797) |
| Other liabilities, current | (212,325) |
| Total identifiable net assets | € 953,752 |
Business combinations - Bargain purchase (Details) - YOOX Net-a-Porter Group S.p.A (YNAP) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Apr. 23, 2025 |
Jun. 30, 2025 |
|
| Business combinations | ||
| Total identifiable net assets | € 953,752 | |
| Total consideration | 330,221 | |
| Bargain purchase gain | € 623,531 | € 623,500 |
Segment and geographic information - Geographic information (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Income tax expense | ||
| Non-current assets | € 425,640 | € 251,644 |
| Germany | ||
| Income tax expense | ||
| Non-current assets | 237,880 | € 251,644 |
| Italy | ||
| Income tax expense | ||
| Non-current assets | 80,185 | |
| United Kingdom | ||
| Income tax expense | ||
| Non-current assets | 60,701 | |
| United States | ||
| Income tax expense | ||
| Non-current assets | 41,256 | |
| Other | ||
| Income tax expense | ||
| Non-current assets | € 5,618 |
Selling, general and administrative expenses (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Selling, general and administrative expenses | |||
| Increase in selling, general and administrative (SG&A) expense | € 125,000 | ||
| Selling, general and administrative (SG&A) expense | 284,295 | € 159,292 | € 147,691 |
| Share-based compensation expenses | 14,300 | 18,500 | |
| Selling, general and administrative expenses | |||
| Selling, general and administrative expenses | |||
| Personnel-related expenses | (168,326) | (126,366) | (119,450) |
| Rental and other facility-related expenses | (13,033) | (4,902) | (2,668) |
| IT expenses | (28,620) | (8,409) | (8,911) |
| Insurances and fees | (2,945) | (1,901) | (3,082) |
| Travel costs | (5,859) | (3,501) | (2,896) |
| Other transaction-related, certain legal and other expenses | (49,125) | (2,366) | (5,446) |
| Consulting and other services | (11,391) | (4,247) | (920) |
| Other | (4,995) | (7,600) | (4,319) |
| Total Selling, general and administrative expenses | € (284,295) | € (159,292) | € (147,692) |
Other income (loss), net (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Other income | |||
| Other income | € 626,311 | € 1,471 | € 1,863 |
| Foreign exchange gains, net | 1,349 | ||
| Total other income | 626,311 | 2,820 | 1,863 |
| Other expenses | |||
| Foreign exchange losses, net | (3,768) | (2,057) | |
| Other operational expenses | (9,006) | (2,553) | (2,332) |
| Total other expenses | (12,774) | (2,553) | (4,390) |
| Other income, net | € 613,538 | € 267 | € (2,527) |
Other income (loss), net - Additional information (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Other income (loss), net | |||
| Increase (decrease) In other income (expense), net | € 613,300 | ||
| Other income, net | € 613,538 | € 267 | € (2,527) |
Finance income (costs), net (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Finance costs | |||
| Total finance costs | € (7,280) | € (4,777) | € (2,818) |
| Finance income | |||
| Other interest income | 2,208 | 5 | 358 |
| Total finance income | 2,208 | 5 | 358 |
| Finance income (costs), net | (5,072) | (4,772) | (2,460) |
| Revolving credit facility | |||
| Finance costs | |||
| Interest expense | (3,113) | (1,861) | (401) |
| Leases | |||
| Finance costs | |||
| Interest expense | € (4,167) | € (2,916) | € (2,417) |
Income tax expense (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income tax expense | |||
| Total current tax income / (expense) | € (3,253) | € (411) | € (3,210) |
| Thereof prior year adjustments | 252 | 189 | (476) |
| Thereof other current income tax effects for the period | (3,504) | (600) | (2,734) |
| Total deferred tax income / (expense) | (317) | 2,226 | (2,666) |
| Thereof effects from origination and reversal of temporary balance sheet differences | (338) | 61 | 1,101 |
| Thereof prior year adjustments | 195 | 30 | (31) |
| Thereof effects from (non-) recognition of deferred tax assets on tax losses and interest carried forward | (175) | 2,135 | (3,736) |
| Total income tax income (expense) | € (3,570) | € 1,814 | € (5,877) |
Income tax expense - Tax rates (Details) |
12 Months Ended | 60 Months Ended | ||||
|---|---|---|---|---|---|---|
Jul. 11, 2025 |
Dec. 31, 2032 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Dec. 31, 2032 |
|
| Income tax expense | ||||||
| Applicable tax rate | 27.74% | 27.74% | 27.74% | |||
| Effective tax rate | (0.62%) | (6.80%) | 52.70% | |||
| Germany | ||||||
| Income tax expense | ||||||
| Corporate tax rate | 15.00% | |||||
| Solidarity surcharge on corporate tax rate | 5.50% | |||||
| Trade tax rate | 11.92% | |||||
| Primary deferred tax rate | 27.74% | 27.74% | ||||
| Germany | Changes in tax rates or tax laws enacted or announced | ||||||
| Income tax expense | ||||||
| Corporate tax rate | 15.00% | |||||
| Germany | Changes in tax rates or tax laws enacted or announced | Forecast | ||||||
| Income tax expense | ||||||
| Applicable tax rate | 10.00% | |||||
| Percentage of reduction | 1.00% | |||||
| Period for reduction | 5 years | |||||
| Minimum | Non German | ||||||
| Income tax expense | ||||||
| Applicable tax rate | 0.00% | 8.25% | ||||
| Maximum | Non German | ||||||
| Income tax expense | ||||||
| Applicable tax rate | 35.00% | 31.00% | ||||
Income tax expense - Reconciliation (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income tax expense | |||
| Income (loss) before tax | € 573,530 | € (26,725) | € (11,142) |
| Tax (expense) income based on expected group tax rate | (159,097) | 7,414 | 3,091 |
| Tax effects of: | |||
| Non-deductible expenses (for local taxes) | (304) | (218) | (92) |
| Other non-deductible expenses & permanent differences | 167,289 | (5,993) | (8,693) |
| Tax free income | (238) | 90 | 239 |
| Tax rate difference between group and local tax rates and changes in tax rates | (2,174) | 64 | 58 |
| Prior year adjustments | 447 | 53 | (507) |
| (Non-) recognition on deferred tax assets on tax loss carryforwards, utilization of tax losses and tax credits without recognition of deferred tax assets | (9,211) | 6 | 42 |
| Others | (282) | 397 | (14) |
| Total income tax income (expense) | € (3,570) | € 1,814 | € (5,877) |
| Effective total income tax rate (%) | (0.62%) | (6.80%) | 52.70% |
Income tax expense - Additional Information (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income tax expense | |||
| Amount of other non-deductible expenses related to share-based payments | € 3,963 | € 5,134 | € 8,328 |
| Tax Benefit arising from gain on bargain purchase | 172,767 | ||
| Temporary differences associated with investments in subsidiaries | 43,404 | 5,733 | € 5,370 |
| Deferred tax assets | 1,683 | 1,999 | |
| Tax loss carryforwards | |||
| Income tax expense | |||
| Deferred tax assets | 4,272 | € 4,447 | |
| Decreased the deferred tax assets | € 343 | ||
Net sales (Details) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Jun. 30, 2025
EUR (€)
customer
country
store
|
Jun. 30, 2024
EUR (€)
|
Jun. 30, 2023
EUR (€)
|
|
| Net sales | |||
| Net sales | € 1,262,277 | € 840,852 | € 766,003 |
| Percentage of net sales | 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 | ||
| Net sales recognized from contract liabilities | € 15,892 | € 2,007 | € 1,233 |
| Decrease in net sales from application of hedge accounting | (953) | (1,511) | (1,650) |
| Germany | |||
| Net sales | |||
| Net sales | € 142,409 | € 127,867 | € 128,109 |
| Percentage of net sales | 11.30% | 15.20% | 16.70% |
| United States | |||
| Net sales | |||
| Net sales | € 323,662 | € 171,795 | € 137,521 |
| Percentage of net sales | 25.60% | 20.40% | 18.00% |
| Europe (excluding Germany) | |||
| Net sales | |||
| Net sales | € 508,989 | € 332,575 | € 298,998 |
| Percentage of net sales | 40.30% | 39.60% | 39.00% |
| Rest of the world | |||
| Net sales | |||
| Net sales | € 287,216 | € 208,615 | € 201,375 |
| Percentage of net sales | 22.80% | 24.80% | 26.30% |
| Germany | |||
| Net sales | |||
| Number of retail stores | store | 2 | ||
Intangible assets and goodwill (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Intangible assets with finite life | ||
| Software and license | € 1,938 | € 473 |
| Development cost under construction | 315 | |
| Intangible assets with indefinite life | ||
| Trademark | 15,585 | 15,585 |
| Goodwill | 138,892 | 138,892 |
| Total intangible assets and goodwill | € 156,731 | € 154,951 |
Intangible assets and goodwill - Finite-lived intangibles (Details) - Software and license - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Intangible assets and goodwill | ||
| Intangible assets other than goodwill at beginning of period | € 474 | |
| Intangible assets other than goodwill at end of period | 2,253 | € 474 |
| Cost | ||
| Intangible assets and goodwill | ||
| Intangible assets other than goodwill at beginning of period | 5,324 | 5,179 |
| Additions | 1,197 | 145 |
| Disposals | (283) | |
| Additions through business combination | 1,605 | |
| Currency translation | (32) | |
| Intangible assets other than goodwill at end of period | 7,811 | 5,324 |
| Accumulated depreciation and impairment | ||
| Intangible assets and goodwill | ||
| Intangible assets other than goodwill at beginning of period | (4,850) | (4,373) |
| Amortization charge of the year | (707) | (477) |
| Intangible assets other than goodwill at end of period | € (5,557) | € (4,850) |
Intangible assets and goodwill - Indefinite-lived intangibles (Details) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Jun. 30, 2025
item
|
Jun. 30, 2024
EUR (€)
|
Jun. 30, 2023
EUR (€)
|
|
| Disclosure of information for cash-generating units | |||
| Number of identified trademarks | item | 2 | ||
| Cash-generating units | 2 | ||
| Period of budgets used for cash flow forecasts | 5 years | ||
| Trademarks | |||
| Disclosure of information for cash-generating units | |||
| Impairment loss, intangible assets other than goodwill | € | € 0 | € 0 | |
| Royalty rate | 2.00% | 2.00% | |
| Terminal revenue growth rate | 2.00% | 2.00% | |
| Period of measurement of revenue growth rate | 5 years | ||
| Mytheresa trademark | |||
| Disclosure of information for cash-generating units | |||
| Discount rate | 9.40% | 9.40% | |
| THERESA trademark | |||
| Disclosure of information for cash-generating units | |||
| Discount rate | 10.40% | 8.80% | |
Intangible assets and goodwill - Goodwill (Details) € in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Jun. 30, 2025
EUR (€)
|
Apr. 23, 2025
EUR (€)
|
Jun. 30, 2024
EUR (€)
|
Oct. 31, 2014 |
Oct. 09, 2014 |
|
| Disclosure of information for cash-generating units | |||||
| Cash-generating units | 2 | ||||
| Goodwill | € 138,892 | € 138,892 | |||
| Cash flow forecast measurement period | 5 years | ||||
| Mytheresa.com GmbH | |||||
| Disclosure of information for cash-generating units | |||||
| Percentage of voting interests acquired | 100.00% | ||||
| Theresa Warenvertrieb GmbH | |||||
| Disclosure of information for cash-generating units | |||||
| Percentage of voting interests acquired | 100.00% | ||||
| YOOX Net-a-Porter Group S.p.A (YNAP) | |||||
| Disclosure of information for cash-generating units | |||||
| Percentage of voting interests acquired | 100.00% | ||||
| Goodwill recognised as of acquisition date | € 0 | ||||
| Goodwill | |||||
| Disclosure of information for cash-generating units | |||||
| Cash flow forecast measurement period | 5 years | ||||
| Terminal growth rate | 2.00% | 2.00% | |||
| Period of measurement of revenue growth rate | 5 years | ||||
| Risk-free interest rate | 3.00% | 2.50% | |||
| Market risk premium | 6.50% | 7.00% | |||
| Online | |||||
| Disclosure of information for cash-generating units | |||||
| Goodwill | € 137,933 | ||||
| Online | Goodwill | |||||
| Disclosure of information for cash-generating units | |||||
| Budgeted revenue growth rate (CAGR for the next five years) | 9.60% | 14.33% | |||
| EBITDA margin in Terminal value | 7.80% | 7.50% | |||
| Terminal growth rate | 2.00% | 2.00% | |||
| Discount rate | 12.20% | 12.20% | |||
| Amount by which unit's recoverable amount exceeds its carrying amount | € 212,000 | € 205,000 | |||
| Retail Store | |||||
| Disclosure of information for cash-generating units | |||||
| Goodwill | € 959 | ||||
| Retail Store | Goodwill | |||||
| Disclosure of information for cash-generating units | |||||
| Budgeted revenue growth rate (CAGR for the next five years) | 0.90% | 2.20% | |||
| EBITDA margin in Terminal value | 30.10% | 32.90% | |||
| Terminal growth rate | 2.00% | 2.00% | |||
| Discount rate | 13.20% | 12.00% |
Intangible assets and goodwill (Details) - Online - Goodwill |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Discount rate | ||
| Disclosure of information for cash-generating units [line items] | ||
| Change required for carrying amount to be equal to recoverable amount | 0.027 | 0.024 |
| EBITDA margin in Terminal value | ||
| Disclosure of information for cash-generating units [line items] | ||
| Change required for carrying amount to be equal to recoverable amount | (0.022) | (0.019) |
| Budgeted revenue growth rate (CAGR for the next five years) | ||
| Disclosure of information for cash-generating units [line items] | ||
| Change required for carrying amount to be equal to recoverable amount | (0.06) | (0.054) |
Property and equipment (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | € 43,653 | € 37,227 |
| Property, plant and equipment at end of period | 55,901 | 43,653 |
| Increased property and equipment | 55,901 | 43,653 |
| Cost | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 67,888 | 56,223 |
| Additions through business combination | 19,993 | |
| Additions | 2,895 | 12,459 |
| Disposals | (8,047) | (794) |
| Currency translation | (6) | |
| Property, plant and equipment at end of period | 82,723 | 67,888 |
| Increased property and equipment | 82,723 | 67,888 |
| Accumulated depreciation and impairment | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | (24,234) | (18,996) |
| Disposals | 7,988 | |
| Depreciation charge of the year | 7,505 | 5,238 |
| Impairment losses | 3,071 | |
| Property, plant and equipment at end of period | (26,821) | (24,234) |
| Increased property and equipment | (26,821) | (24,234) |
| Construction in progress | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 0 | 26,873 |
| Property, plant and equipment at end of period | 180 | 0 |
| Increased property and equipment | 180 | 0 |
| Construction in progress | Cost | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 0 | 26,873 |
| Additions through business combination | 360 | |
| Additions | 843 | 5,445 |
| Transfer | (1,012) | (31,909) |
| Disposals | (409) | |
| Currency translation | (12) | |
| Property, plant and equipment at end of period | 180 | 0 |
| Increased property and equipment | 180 | 0 |
| Leasehold improvements | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 10,166 | 4,614 |
| Property, plant and equipment at end of period | 8,889 | 10,166 |
| Increased property and equipment | 8,889 | 10,166 |
| Leasehold improvements | Cost | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 18,215 | 11,608 |
| Additions through business combination | 2,547 | |
| Additions | 590 | 1,789 |
| Transfer | (670) | 5,139 |
| Disposals | (50) | (321) |
| Currency translation | (39) | |
| Property, plant and equipment at end of period | 20,593 | 18,215 |
| Increased property and equipment | 20,593 | 18,215 |
| Leasehold improvements | Accumulated depreciation and impairment | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | (8,050) | (6,995) |
| Depreciation charge of the year | 1,322 | 1,055 |
| Impairment losses | 2,332 | |
| Property, plant and equipment at end of period | (11,704) | (8,050) |
| Increased property and equipment | (11,704) | (8,050) |
| Other fixed assets and office equipment | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 33,487 | 5,740 |
| Property, plant and equipment at end of period | 46,832 | 33,487 |
| Increased property and equipment | 46,832 | 33,487 |
| Other fixed assets and office equipment | Cost | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | 49,672 | 17,742 |
| Additions through business combination | 17,086 | |
| Additions | 1,462 | 5,224 |
| Transfer | 1,682 | 26,770 |
| Disposals | (7,997) | (64) |
| Currency translation | 45 | |
| Property, plant and equipment at end of period | 61,950 | 49,672 |
| Increased property and equipment | 61,950 | 49,672 |
| Other fixed assets and office equipment | Accumulated depreciation and impairment | ||
| Property and equipment, net | ||
| Property, plant and equipment at beginning of period | (16,184) | (12,001) |
| Disposals | 7,988 | |
| Depreciation charge of the year | 6,183 | 4,183 |
| Impairment losses | 739 | |
| Property, plant and equipment at end of period | (15,117) | (16,184) |
| Increased property and equipment | (15,117) | € (16,184) |
| Property, plant and equipment utilized in the Heimstetten distribution center | Luxury Mytheresa Segment | ||
| Property and equipment, net | ||
| Impairment losses | 3,100 | |
| Recoverable amount | € 0 | |
Leases (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Leases | |||
| Expense for leases under the low value exemption | € 2,896 | € 197 | € 191 |
| Expense for variable lease payments not included in measurement of lease liabilities | 0 | 0 | 0 |
| Depreciation and interest expense | 18,622 | 12,406 | 10,909 |
| Rent concessions on leases | 0 | 0 | 0 |
| Non-current lease liabilities | 176,718 | 40,483 | 49,518 |
| Current lease liabilities | 32,085 | 9,282 | 8,155 |
| Additions to cash outflows from current leases if all extension options are exercised | 119,700 | ||
| Rent cash deposits | 5,186 | 1,431 | |
| Lease payments | 10,057 | 7,924 | 4,059 |
| Interest expenses on leases | € 4,167 | 2,916 | € 2,417 |
| Maximum | |||
| Leases | |||
| Property leases are exercisable before end of non-cancellable contract period | 1 year | ||
| Other non-current assets | |||
| Leases | |||
| Rent cash deposits | € 1,846 | € 1,431 | |
Leases - Right-of-use assets (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Leases | ||
| Right-of-use assets at beginning of year | € 45,468 | € 54,797 |
| Right-of-use assets at end of year | 201,131 | 45,468 |
| Land and buildings | ||
| Leases | ||
| Right-of-use assets at beginning of year | 45,390 | 54,696 |
| Right-of-use assets at end of year | 192,633 | 45,390 |
| Company Cars and Equipment | ||
| Leases | ||
| Right-of-use assets at beginning of year | 78 | 101 |
| Right-of-use assets at end of year | 8,498 | 78 |
| Cost | ||
| Leases | ||
| Right-of-use assets at beginning of year | 89,722 | 89,561 |
| Additions | 5,003 | 161 |
| Additions through business combination | 166,431 | |
| Currency Translation | (1,317) | |
| Right-of-use assets at end of year | 259,841 | 89,722 |
| Cost | Land and buildings | ||
| Leases | ||
| Right-of-use assets at beginning of year | 89,510 | 89,369 |
| Additions | 3,935 | 141 |
| Additions through business combination | 158,254 | |
| Currency Translation | (1,289) | |
| Right-of-use assets at end of year | 250,411 | 89,510 |
| Cost | Company Cars and Equipment | ||
| Leases | ||
| Right-of-use assets at beginning of year | 213 | 193 |
| Additions | 1,068 | 20 |
| Additions through business combination | 8,177 | |
| Currency Translation | (28) | |
| Right-of-use assets at end of year | 9,431 | 213 |
| Accumulated depreciation and impairment | ||
| Leases | ||
| Right-of-use assets at beginning of year | (44,254) | (34,765) |
| Depreciation Charge of the year | 14,456 | 9,489 |
| Right-of-use assets at end of year | (58,710) | (44,254) |
| Accumulated depreciation and impairment | Land and buildings | ||
| Leases | ||
| Right-of-use assets at beginning of year | (44,119) | (34,673) |
| Depreciation Charge of the year | 13,658 | 9,446 |
| Right-of-use assets at end of year | (57,777) | (44,119) |
| Accumulated depreciation and impairment | Company Cars and Equipment | ||
| Leases | ||
| Right-of-use assets at beginning of year | (135) | (92) |
| Depreciation Charge of the year | 798 | 43 |
| Right-of-use assets at end of year | € (933) | € (135) |
Other current and non-current assets - Other current assets (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Other current and non-current assets | ||
| Right of return assets | € 51,373 | € 13,205 |
| Current VAT receivables | 3,223 | |
| Prepaid expenses | 20,852 | 4,233 |
| Receivables from payment service providers | 9,033 | 1,086 |
| Advance payments | 10,043 | 2,582 |
| DDP duty drawbacks | 9,722 | 14,352 |
| Other current assets | 23,336 | 7,604 |
| Current tax receivables | 7,183 | 2,244 |
| Total other current assets | € 134,766 | € 45,306 |
Other current and non-current assets - Other non-current assets (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Other current and non-current assets | ||
| Other non-current receivables | € 1 | € 29 |
| Non-current deposits | 5,186 | 1,431 |
| Non-current prepaid expenses | 6,691 | 6,112 |
| Total other non-current assets | € 11,878 | € 7,572 |
Inventories (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Inventories | |||
| Cost of inventories | € 662,389 | € 449,590 | € 383,115 |
| Write-downs (reversals of write-downs) of inventories | (4,031) | 6,658 | € 2,913 |
| Inventories | 1,019,539 | € 370,635 | |
| Inventories pledged as security for liabilities | € 348,000 | ||
Trade and other receivables (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|---|---|---|---|
| Trade and other receivables, Current | Loss allowance | |||
| Trade and other receivables | |||
| Financial assets | € (4,131) | € 0 | € (278) |
Shareholder's equity - Subscribed capital (Details) € in Thousands |
Jun. 30, 2025
EUR (€)
|
Apr. 23, 2025
shares
|
Jun. 30, 2024
EUR (€)
shares
|
Jun. 30, 2024
$ / shares
|
|---|---|---|---|---|
| Shareholder's equity | ||||
| Subscribed capital | € | € 2 | € 1 | ||
| Number of shares outstanding | 136,374,256 | 85,265,962 | ||
| Nominal value per share | $ / shares | $ 0.000015 | |||
| YOOX Net-a-Porter Group S.p.A (YNAP) | ||||
| Shareholder's equity | ||||
| Number of shares issued | 49,741,342 | |||
| Ownership percentage in reporting entity issued as consideration in business combination, post-issuance | 33.00% |
Shareholder's equity - Capital reserve (Details) $ / shares in Units, € in Thousands, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
|
Apr. 23, 2025
EUR (€)
shares
|
Jan. 21, 2021
EUR (€)
shares
|
Jan. 21, 2021
USD ($)
$ / shares
shares
|
Jun. 30, 2025
EUR (€)
|
|
| Shareholder's equity | ||||
| Capital increase | € | € 345,553 | |||
| Capital reserve | ||||
| Shareholder's equity | ||||
| Capital increase | € | € 345,552 | |||
| YOOX Net-a-Porter Group S.p.A (YNAP) | ||||
| Shareholder's equity | ||||
| Number of shares issued | shares | 49,741,342 | |||
| YOOX Net-a-Porter Group S.p.A (YNAP) | Capital reserve | ||||
| Shareholder's equity | ||||
| Capital increase | € | € 345,552 | |||
| IPO | ||||
| Shareholder's equity | ||||
| Initial public offering | shares | 17,994,117 | 17,994,117 | ||
| Public offering price | $ / shares | $ 26 | |||
| Number of ADS issued during period | shares | 14,233,823 | 14,233,823 | ||
| Proceeds net of underwriting discounts and related expenses | $ | $ 344.2 | |||
| Number of ADSs sold by prior shareholder | shares | 3,760,294 | 3,760,294 | ||
| Total Transaction Costs Incurred | € | € 16,740 | |||
| Transaction Cost related to IPO | € | 4,550 | |||
| Deferred tax reflected in equity | € | 1,249 | |||
| IPO | Selling, general and administrative expenses | ||||
| Shareholder's equity | ||||
| Share issued cost related to IPO | € | € (12,190) | |||
| Over allotment | ||||
| Shareholder's equity | ||||
| Number of ADSs sold through underwriter's exercise of options | shares | 2,347,058 | 2,347,058 | ||
| Over allotment | Shares issued by entity | ||||
| Shareholder's equity | ||||
| Number of ADS sold | shares | 586,764 | 586,764 | ||
| Over allotment | Shares sold by sole shareholder | ||||
| Shareholder's equity | ||||
| Number of ADSs sold by shareholder | shares | 1,760,294 | 1,760,294 | ||
Shareholder's equity - Ordinary shares issued (Details) |
12 Months Ended | |
|---|---|---|
|
Jun. 30, 2025
Vote / shares
shares
|
Jun. 30, 2024
shares
|
|
| Shareholder's equity | ||
| Number of shares issued | 137,261,608 | 85,265,962 |
| Vote per share | Vote / shares | 1 | |
| Employee stock purchase plan (ESPP) | ||
| Shareholder's equity | ||
| Number of shares issued | 41,882 | 29,641 |
| Basic shares (post-split) | ||
| Shareholder's equity | ||
| Number of shares issued | 70,190,687 | 70,190,687 |
| IPO shares (post-split) | ||
| Shareholder's equity | ||
| Number of shares issued | 14,233,823 | 14,233,823 |
| Shares issued as consideration for the YNAP Acquisition | ||
| Shareholder's equity | ||
| Number of shares issued | 49,741,342 | |
| Supervisory Board Award (Restricted Shares) | ||
| Shareholder's equity | ||
| Number of shares issued | 124,388 | 57,124 |
| Long-Term Incentive Plan (Restricted Share Units and Options) | ||
| Shareholder's equity | ||
| Number of shares issued | 624,449 | 92,931 |
| Sign-On Award (Restricted Shares Units) | ||
| Shareholder's equity | ||
| Number of shares issued | 6,269 | 6,269 |
| Restoration Award (Phantom Shares) - Converted | ||
| Shareholder's equity | ||
| Number of shares issued | 847,525 | 398,328 |
| Alignment Award (Options) - Exercised | ||
| Shareholder's equity | ||
| Number of shares issued | 1,451,243 | 257,159 |
Liabilities to banks (Details) - Revolving credit facility with Commerzbank, UniCredit and J.P. Morgan € in Millions |
Jun. 30, 2025
EUR (€)
|
|---|---|
| Liabilities to banks | |
| Notional amount | € 100.0 |
| Borrowings | 10.0 |
| Credit line utilized in the form of guarantees | € 10.2 |
Tax liabilities (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Tax liabilities | |||
| Tax liabilities at beginning of fiscal year | € 10,643 | € 22,987 | € 25,096 |
| Additions | 1,536 | 1,725 | 3,410 |
| Additions through business combination | 1,601 | ||
| Utilizations | (11,017) | (13,477) | (4,883) |
| Releases | 0 | (592) | (637) |
| Tax liabilities at end of fiscal year | € 2,764 | € 10,643 | € 22,987 |
Provisions (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Provisions | ||
| Provisions at beginning of fiscal year | € 2,789 | € 2,646 |
| Additions | 5,507 | 143 |
| Additions through business combination | 7,360 | |
| Releases | (1,603) | |
| Utilizations | (661) | |
| Currency translation | (101) | |
| Provisions at end of fiscal year | 13,290 | 2,789 |
| Dismantling provisions | ||
| Provisions | ||
| Provisions at beginning of fiscal year | 2,789 | 2,646 |
| Additions | 143 | |
| Releases | (484) | |
| Currency translation | (101) | |
| Provisions at end of fiscal year | 2,305 | € 2,789 |
| Other provisions | ||
| Provisions | ||
| Additions | 5,507 | |
| Additions through business combination | 7,360 | |
| Releases | (1,119) | |
| Utilizations | (661) | |
| Provisions at end of fiscal year | € 10,985 | |
Other liabilities (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Other liabilities | ||
| Personnel-related liabilities | € 34,272 | € 9,376 |
| Customer returns | 83,078 | 21,064 |
| Liabilities from sales tax | 35,758 | 12,632 |
| Liabilities against brand partners | 14,462 | 13,901 |
| Accrued expenses & other liabilities | 179,265 | 38,262 |
| Total other current liabilities | € 346,835 | € 95,235 |
Deferred income tax assets and liabilities, net (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Deferred tax assets / (liabilities), net | |||
| Deferred tax assets / (liabilities), net, at beginning of fiscal year | € 1,989 | € (237) | € 2,429 |
| Recognized through profit or loss | (317) | 2,226 | (2,666) |
| Deferred tax assets / (liabilities), net, at end of fiscal year | € 1,672 | € 1,989 | € (237) |
Deferred income tax assets and liabilities, net- Balances (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|---|---|---|---|
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | € 1,683 | € 1,999 | |
| Deferred tax liabilities | (11) | (12) | |
| Total gross, deferred tax assets | 54,189 | 19,348 | |
| Total gross, deferred tax liabilities | (52,517) | (17,359) | |
| Netting of deferred tax assets | (52,506) | (17,348) | |
| Netting of deferred tax liabilities | 52,506 | 17,348 | |
| Total net, deferred tax assets | 1,683 | 1,999 | |
| Total net, deferred tax liabilities | (11) | (11) | |
| Deferred income tax liabilities, net | (11) | (11) | |
| Unused tax loss carryforwards for which no deferred tax asset recognized | 1,519,226 | 123 | € 119 |
| Amount of existing interest carryforward | 62,983 | 0 | 0 |
| Deductible temporary differences for which no deferred tax asset is recognised | 310,413 | 0 | € 0 |
| Intangible assets and goodwill | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 174 | 214 | |
| Deferred tax liabilities | (4,323) | (4,323) | |
| Property and equipment | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 19,194 | ||
| Deferred tax liabilities | (8,143) | (276) | |
| Inventory | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 8,722 | ||
| Deferred tax liabilities | (99) | (27) | |
| Receivables | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 2,099 | ||
| Deferred tax liabilities | (195) | ||
| Right-of-Use asset, contract asset and other assets | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 289 | ||
| Deferred tax liabilities | (36,080) | (12,482) | |
| Lease liabilities, contract liabilities and other liabilities | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 18,852 | 14,031 | |
| Deferred tax liabilities | (3,852) | (56) | |
| Provisions | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | 587 | 657 | |
| Deferred tax liabilities | (20) | ||
| Tax loss carryforwards | |||
| Deferred income tax assets and liabilities, net | |||
| Deferred tax assets | € 4,272 | € 4,447 |
Global minimum top-up tax (Details) € in Thousands |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
EUR (€)
| |
| Global minimum top-up tax | |
| Tax expenses associated with Pillar Two taxes | € 0 |
Related party transactions (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| MYT Holding LLC | ||
| Related party transactions | ||
| Proportion of ownership interest in reporting entity | 48.60% | 77.90% |
| Richemont Italia Holding S.p.A | ||
| Related party transactions | ||
| Proportion of ownership interest in reporting entity | 36.40% | |
| Revolving credit facility with Compagnie Financire Richemont S.A. | ||
| Related party transactions | ||
| Notional amount | € 100,000 | |
| MYT Ultimate Parent LLC | ||
| Related party transactions | ||
| Receivables | 213 | € 213 |
| Liabilities | 838 | € 838 |
| Richemont Italia Holding S.p.A | ||
| Related party transactions | ||
| Receivables | 43,652 | |
| Amounts receivable related to tax credit | 25,975 | |
| Liabilities | 24,747 | |
| Purchase of inventory | 30,982 | |
| Management and information technology services | 1,870 | |
| Richemont Italia Holding S.p.A | YOOX Net-a-Porter Group S.p.A (YNAP) | ||
| Related party transactions | ||
| Amounts receivable related to shortfall on the net financial position | 15,332 | |
| Amounts receivable related is still subject to finalization | 15,332 | |
| Richemont Italia Holding S.p.A | Revolving credit facility with Compagnie Financire Richemont S.A. | ||
| Related party transactions | ||
| Notional amount | 100,000 | |
| Borrowings | € 0 |
Related party transactions - Key Management Personnel Compensation (Details) € in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Jul. 01, 2024
$ / shares
|
Dec. 15, 2023
$ / shares
|
Nov. 08, 2023
$ / shares
|
Jun. 30, 2025
EUR (€)
|
Jun. 30, 2024
EUR (€)
|
Jun. 30, 2023
EUR (€)
|
Jun. 30, 2021
$ / shares
|
|
| Managing directors | |||||||
| Related party transactions | |||||||
| Short-term compensation | € 6,610 | € 4,073 | € 3,405 | ||||
| Share-based compensation | 9,260 | 13,408 | 22,672 | ||||
| Total personnel expenses for Managing Directors | 15,870 | 17,481 | 26,077 | ||||
| IPO related compensation for Managing Directors | |||||||
| Related party transactions | |||||||
| Weighted average share price | $ / shares | $ 31 | ||||||
| IPO related compensation for Managing Directors | Managing directors | |||||||
| Related party transactions | |||||||
| Share-based compensation | 3,255 | 10,769 | 21,791 | ||||
| Long-Term Incentive Plan | |||||||
| Related party transactions | |||||||
| Weighted average share price | $ / shares | $ 5.07 | $ 3.55 | $ 3.41 | ||||
| Long-Term Incentive Plan | Managing directors | |||||||
| Related party transactions | |||||||
| Share-based compensation | € 6,005 | € 2,640 | € 881 | ||||
Share-based compensation - IPO Related One-Time Award Package (Details) |
Jan. 20, 2021
Options
person
item
$ / shares
shares
|
|---|---|
| Alignment Grant | |
| Share-based compensation | |
| 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 |
| Restoration Grant | |
| Share-based compensation | |
| Number of shares per option | shares | 1 |
| 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% |
| Exercisable term | 10 years |
| Number granted | Options | 1,875,677 |
| Number of key management members | person | 21 |
| 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 compensation | |
| Granted | 6,478,761 |
| Annual vesting percentage | 25.00% |
| Restoration Award | |
| Share-based compensation | |
| Granted | 1,875,677 |
Share-based compensation - Supervisory Board Members Plan (Details) - Supervisory Board Members Plan |
Nov. 12, 2024
USD ($)
EquityInstruments
item
|
Nov. 08, 2023
USD ($)
EquityInstruments
item
|
Sep. 05, 2023
USD ($)
EquityInstruments
item
|
May 08, 2023
USD ($)
EquityInstruments
item
|
Jul. 01, 2022
USD ($)
EquityInstruments
item
|
Feb. 09, 2022
USD ($)
EquityInstruments
item
|
|---|---|---|---|---|---|---|
| Share-based compensation | ||||||
| Number granted | EquityInstruments | 85,502 | 149,147 | 11,478 | 67,264 | 11,467 | 22,880 |
| Number of Supervisory Board Members that have been granted awards | item | 5 | 5 | 1 | 4 | 1 | 4 |
| Grant date fair value | $ | $ 6.14 | $ 3.52 | $ 3.63 | $ 4.46 | $ 9.68 | $ 16.02 |
Share-based compensation - Long-Term Incentive Plan (Details) |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Oct. 01, 2024
USD ($)
EquityInstruments
|
Jul. 01, 2024
USD ($)
shares
|
Jul. 01, 2024
USD ($)
shares
|
Jul. 01, 2024
USD ($)
Options
shares
|
Jul. 01, 2024
USD ($)
EquityInstruments
shares
|
Jul. 01, 2024
USD ($)
$ / shares
shares
|
Dec. 15, 2023
EquityInstruments
item
$ / shares
shares
|
Nov. 08, 2023
USD ($)
EquityInstruments
$ / shares
|
Jul. 01, 2023
EquityInstruments
item
$ / shares
shares
|
Jul. 01, 2022
USD ($)
EquityInstruments
|
Jul. 01, 2021
USD ($)
EquityInstruments
|
Jun. 30, 2025
Options
|
Jun. 30, 2024
Options
|
|
| Long-Term Incentive Plan | |||||||||||||
| Share-based compensation | |||||||||||||
| Number of units granted | 2,295,434 | 3,113,125 | 3,113,125 | 674,106 | 171,164 | ||||||||
| Grant date fair value | $ | $ 3.65 | $ 5.07 | $ 5.07 | $ 5.07 | $ 5.07 | $ 5.07 | $ 3.41 | $ 9.68 | |||||
| Granted | Options | 3,277,477 | 3,605,301 | |||||||||||
| Exercise price | $ / shares | $ 5.07 | $ 4 | $ 4 | ||||||||||
| Long-Term Incentive Plan | Grant date fair value of 30.68 USD | |||||||||||||
| Share-based compensation | |||||||||||||
| Number of units granted | 170,221 | ||||||||||||
| Grant date fair value | $ | $ 30.68 | ||||||||||||
| Long-Term Incentive Plan | Grant date fair value of 22.38 USD | |||||||||||||
| Share-based compensation | |||||||||||||
| Number of units granted | 943 | ||||||||||||
| Grant date fair value | $ | $ 22.38 | ||||||||||||
| Time-vesting RSUs | |||||||||||||
| Share-based compensation | |||||||||||||
| Number of units granted | 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% | |||||||||
| Vesting period | 3 years | 3 years | 3 years | 3 years | |||||||||
| Non-Market Performance RSUs | |||||||||||||
| Share-based compensation | |||||||||||||
| Number of units granted | 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 compensation | |||||||||||||
| Percentage of awards vesting annually | 33.33% | 33.33% | 33.33% | ||||||||||
| Vesting period | 3 years | 3 years | |||||||||||
| Granted | 3,277,477 | 3,277,477 | 682,021 | 2,923,280 | 3,605,301 | ||||||||
| Number of shares per option | shares | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||||||
| Exercise price | $ / shares | $ 5.07 | $ 4 | $ 4 | ||||||||||
| Vested options term | 10 years | 10 years | 10 years | ||||||||||
| Number of different tranches | item | 3 | 3 | |||||||||||
| Minimum | Non-Market Performance RSUs | |||||||||||||
| Share-based compensation | |||||||||||||
| Potential award level of grant, depending on achievement of gross profit | 25.00% | 25.00% | 25.00% | 25.00% | |||||||||
| Maximum | Non-Market Performance RSUs | |||||||||||||
| Share-based compensation | |||||||||||||
| Potential award level of grant, depending on achievement of gross profit | 200.00% | 200.00% | 200.00% | 200.00% | |||||||||
Share-based compensation - Employee Share Purchase Program (ESPP) (Details) € in Thousands |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
May 13, 2025
EUR (€)
shares
|
May 17, 2024
EUR (€)
shares
|
May 29, 2023
EUR (€)
shares
|
Jun. 30, 2025
EUR (€)
|
Jun. 30, 2024
EUR (€)
|
Jun. 30, 2023
EUR (€)
|
May 13, 2025
USD ($)
|
May 17, 2024
USD ($)
|
May 29, 2023
USD ($)
|
|
| Share-based compensation | |||||||||
| Expense booked to equity | € 14,287 | € 18,508 | € 29,882 | ||||||
| Employee share purchase program | |||||||||
| Share-based compensation | |||||||||
| Number of units granted | shares | 10,481 | 13,149 | 29,641 | ||||||
| Weighted average fair value | $ | $ 9.27 | $ 6 | $ 4 | ||||||
| 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 | € 21 | € 18 | € 28 | ||||||
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 compensation | ||||
| Weighted average share price | $ 31 | |||
| Alignment Award | Tranche I | ||||
| Share-based compensation | ||||
| Weighted average fair value | $ | $ 25.42 | |||
| Exercise price | $ 5.79 | |||
| Weighted average share price | $ 31 | |||
| Expected volatility | 60.00% | |||
| Expected life | Y | 2.32 | |||
| Risk free rate | 0.00% | |||
| Alignment Award | Tranche II | ||||
| Share-based compensation | ||||
| Weighted average fair value | $ | $ 22.93 | |||
| Exercise price | $ 8.68 | |||
| Weighted average share price | $ 31 | |||
| Expected volatility | 60.00% | |||
| Expected life | Y | 2.32 | |||
| Risk free rate | 0.00% | |||
| Alignment Award | Tranche III | ||||
| Share-based compensation | ||||
| Weighted average fair value | $ | $ 20.68 | |||
| Exercise price | $ 11.58 | |||
| Weighted average share price | $ 31 | |||
| Expected volatility | 60.00% | |||
| Expected life | Y | 2.32 | |||
| Risk free rate | 0.00% | |||
| Long-Term Incentive Plan | ||||
| Share-based compensation | ||||
| Weighted average fair value | $ | $ 1.82 | $ 0.65 | $ 0.64 | |
| Exercise price | $ 5.07 | $ 4 | $ 4 | |
| 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 - Restoration Grant (Details) |
Jan. 20, 2021
USD ($)
|
|---|---|
| Restoration Grant | |
| Share-based compensation | |
| Grant date fair value | $ 31 |
Share-based compensation - Share-based compensation expense recognized (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Share-based compensation | ||
| Classified within capital reserve (beginning of year) | € 175,591 | € 158,453 |
| Share-based compensation expenses | 12,441 | 17,137 |
| Classified within capital reserve (end of year) | € 188,032 | € 175,591 |
| Number of shares withheld shares to cover tax obligation | 276,612 | 287,511 |
| Amount of shares withheld based on the market price | € 1,846 | € 1,370 |
| Share Options (Alignment Grant) | ||
| Share-based compensation | ||
| Share-based compensation expenses | 4,178 | 13,351 |
| Restricted Shares | ||
| Share-based compensation | ||
| Share-based compensation expenses | 495 | 581 |
| Restricted Shares Units | ||
| Share-based compensation | ||
| Share-based compensation expenses | 4,074 | 2,292 |
| Employee Share Purchase Program | ||
| Share-based compensation | ||
| Share-based compensation expenses | 21 | 18 |
| Share Options (SO Award) | ||
| Share-based compensation | ||
| Share-based compensation expenses | € 3,673 | € 896 |
Share-based compensation - Reconciliation of outstanding share options (Details) € in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Jan. 20, 2021
Options
|
Jun. 30, 2025
EUR (€)
Options
|
Jun. 30, 2025
$ / shares
|
Jun. 30, 2024
Options
$ / shares
|
Jun. 30, 2023
EUR (€)
Options
|
|
| Weighted Average Exercise Price | |||||
| Proceeds from exercise of option awards | € | € 7,133 | € 1,077 | |||
| Alignment Award | |||||
| Options | |||||
| Options outstanding at beginning of period | Options | 6,063,090 | 6,197,415 | |||
| Forfeited | Options | 215,529 | 134,325 | |||
| Granted | Options | 6,478,761 | ||||
| Exercised | Options | 1,194,084 | ||||
| Options outstanding at end of period | Options | 4,653,477 | 6,063,090 | 6,197,415 | ||
| Weighted Average Exercise Price | |||||
| Weighted average Exercise price of share options outstanding at beginning of period | $ 8.57 | $ 8.55 | |||
| Forfeited (in dollars per share) | 11.58 | 7.84 | |||
| Exercised (in dollars per share) | 5.79 | ||||
| Weighted average Exercise price of share options outstanding at end of period | 9.09 | $ 8.57 | |||
| Average remaining contractual life | 5 years 6 months 21 days | ||||
| Long-Term Incentive Plan | |||||
| Options | |||||
| Options outstanding at beginning of period | Options | 3,309,066 | ||||
| Forfeited | Options | 12,997 | 296,235 | |||
| Granted | Options | 3,277,477 | 3,605,301 | |||
| Exercised | Options | 195,297 | ||||
| Options outstanding at end of period | Options | 6,378,249 | 3,309,066 | |||
| Weighted Average Exercise Price | |||||
| Weighted average Exercise price of share options outstanding at beginning of period | 4 | ||||
| Forfeited (in dollars per share) | 4.53 | $ 4 | |||
| Granted (in dollars per share) | 5.07 | 4 | |||
| Exercised (in dollars per share) | 4 | ||||
| Weighted average Exercise price of share options outstanding at end of period | 4.55 | $ 4 | |||
| Average remaining contractual life | 8 years 6 months 7 days | ||||
| 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 | ||||
| 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 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Financial instruments | ||
| Financial liabilities | € 577,603 | € 156,151 |
| Non-current deposits | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 5,186 | |
| Trade and other receivables | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 96,676 | 11,819 |
| Cash and cash equivalents | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 603,593 | 15,107 |
| Other assets | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 134,766 | 45,306 |
| Other assets | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial assets | 92,880 | 22,265 |
| Deposits | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 28 | 152 |
| Other financial assets | Financial assets, at amortized cost | ||
| Financial instruments | ||
| Financial assets | 41,858 | 22,889 |
| Non-current lease liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 176,718 | 40,483 |
| Non-current lease liabilities | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial liabilities | 176,718 | 40,483 |
| Non-current other liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 364 | |
| Non-current other liabilities | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial liabilities | 364 | |
| Liabilities to banks | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 10,000 | |
| Tax liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 2,764 | |
| Tax liabilities | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial liabilities | 2,764 | |
| Current lease liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 32,085 | 9,282 |
| Current lease liabilities | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial liabilities | 32,085 | 9,282 |
| Trade and other payables | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 285,722 | 85,322 |
| Current other liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | 346,835 | 95,235 |
| Current other liabilities | No category in accordance with IFRS 9 | ||
| Financial instruments | ||
| Financial liabilities | 263,757 | 74,171 |
| Other financial liabilities | Financial liabilities, at amortized cost | ||
| Financial instruments | ||
| Financial liabilities | € 83,078 | € 21,064 |
Financial instruments and financial risk management (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Financial instruments and financial risk management | |||
| Financial assets measured at Amortized cost (AC) | € 747,341 | € 49,967 | € 60,295 |
| Financial liabilities measured at Amortized cost (AC) | 378,800 | 106,385 | € 90,665 |
| 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 | ||
| Financial assets netted again liabilities | € 0 | ||
Financial instruments and financial risk management - Fx reserve (Details) € in Thousands |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
EUR (€)
| |
| Financial instruments and financial risk management | |
| OCI at beginning of period | € 1,496 |
| OCI at end of period | (4,469) |
| OCI I (Cash flow hedge reserve) | |
| Financial instruments and financial risk management | |
| Additions | 920 |
| Reclassification | (920) |
| OCI II (Cost of hedging reserve) | |
| Financial instruments and financial risk management | |
| Additions | 1,595 |
| Reclassification | € (1,595) |
Financial instruments and financial risk management - Net gains or losses (Details) - EUR (€) € in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Financial instruments and financial risk management | |||
| Financial liabilities measured at Amortized cost (AC) | € (3,113) | € (1,861) | € (401) |
Financial instruments and financial risk management - Loss allowance (Details) - Trade and other receivables - Loss allowance - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Financial instruments and financial risk management | ||
| Beginning of fiscal year | € 0 | € 278 |
| Decrease loss allowance during the period | (278) | |
| Additions through business combinations | 2,627 | |
| Increase loss allowance during the period | 1,504 | |
| End of fiscal year | € 4,131 | € 0 |
Financial instruments and financial risk management - Currency and interest rate risk (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Disclosure of risk management strategy | ||
| Approximate percentage of net foreign currency exposure that the entity hedges | 50.00% | |
| Derivative financial assets held for hedging | € 0 | € 0 |
| Derivative financial liabilities held for hedging | 0 | € 0 |
| Increase (decrease) in profit and loss due to reasonably possible increase in designated risk component | 2,142 | |
| Increase (decrease) in profit and loss due to reasonably possible decrease in designated risk component | € (2,619) | |
| Maximum | ||
| Disclosure of risk management strategy | ||
| Duration of foreign currency hedging transactions | 1 year | |
| Currency risk | USD | ||
| Disclosure of risk management strategy | ||
| Percentage of reasonably possible increase in risk assumption | 10.00% | 10.00% |
| Percentage of reasonably possible decrease in risk assumption | (10.00%) | (10.00%) |
| Increase (decrease) in profit and loss due to reasonably possible increase in designated risk component | € 10,645 | € 275 |
| Increase (decrease) in profit and loss due to reasonably possible decrease in designated risk component | € (13,011) | € (336) |
| Currency risk | GBP | ||
| Disclosure of risk management strategy | ||
| Percentage of reasonably possible increase in risk assumption | 10.00% | 10.00% |
| Percentage of reasonably possible decrease in risk assumption | (10.00%) | (10.00%) |
| Increase (decrease) in profit and loss due to reasonably possible increase in designated risk component | € 2,235 | € 414 |
| Increase (decrease) in profit and loss due to reasonably possible decrease in designated risk component | € (2,732) | € (505) |
| Currency risk | AED | ||
| Disclosure of risk management strategy | ||
| Percentage of reasonably possible increase in risk assumption | 10.00% | 10.00% |
| Percentage of reasonably possible decrease in risk assumption | (10.00%) | (10.00%) |
Financial instruments and financial risk management - Liquidity risk (Details) - EUR (€) € in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Number of days within which the entity's trade receivables are usually paid | 7 days | |
| Undiscounted cash flows | € 623,287 | € 182,008 |
| Financial liabilities | 577,603 | 156,151 |
| Revolving credit facility with Commerzbank, UniCredit and J.P. Morgan | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Notional amount | 100,000 | |
| Borrowings | 10,000 | |
| Credit line utilized in the form of guarantees | 10,200 | |
| Revolving credit facility with Compagnie Financire Richemont S.A. | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Notional amount | 100,000 | |
| Not later than one year | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 411,571 | 115,668 |
| Later than one year and not later than five years | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 142,089 | 29,188 |
| Later than five years | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 69,627 | 34,822 |
| Trade and other payables | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 285,722 | 85,322 |
| Financial liabilities | 285,722 | 85,322 |
| Trade and other payables | Not later than one year | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 285,722 | 85,322 |
| Other financial liabilities | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 83,078 | 21,064 |
| Financial liabilities | 83,078 | 21,064 |
| Other financial liabilities | Not later than one year | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 83,078 | 21,064 |
| Lease liabilities | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 254,487 | 75,622 |
| Financial liabilities | 208,803 | 49,765 |
| Lease liabilities | Not later than one year | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 42,771 | 9,282 |
| Lease liabilities | Later than one year and not later than five years | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | 142,089 | 29,188 |
| Lease liabilities | Later than five years | ||
| Disclosure of maturity analysis for non-derivative financial liabilities | ||
| Undiscounted cash flows | € 69,627 | € 34,822 |
Financial instruments and financial risk management - Credit risk (Details) - EUR (€) € in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|---|---|---|---|---|
| Disclosure of credit risk exposure | ||||
| Cash and cash equivalents | € 603,593 | € 15,107 | € 30,136 | € 113,507 |
| Rating Class 1 | ||||
| Disclosure of credit risk exposure | ||||
| Cash and cash equivalents | 40,150 | 9,696 | ||
| Rating Class 2 | ||||
| Disclosure of credit risk exposure | ||||
| Cash and cash equivalents | 1,776 | 2,528 | ||
| Rating Class 3 | ||||
| Disclosure of credit risk exposure | ||||
| Cash and cash equivalents | € 561,666 | € 2,883 |
Notes to the consolidated statement of cash flows (Details) - EUR (€) € in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Disclosure of reconciliation of liabilities arising from financing activities | ||||
| Interest payments on financial liabilities | € (7,280) | € (4,772) | € (2,460) | |
| Lease payments | (10,057) | (7,925) | (4,059) | |
| Change in Cash Flow | (17,337) | (12,697) | (6,519) | |
| Net debt at beginning of period | € 49,765 | 57,672 | 22,007 | |
| Additions (Disposals) | 179,095 | (25,375) | 26,686 | |
| Interest expenses | 7,280 | 4,772 | 2,460 | |
| Total change in liabilities | 186,375 | (20,603) | 29,146 | |
| Net debt at end of period | 218,803 | 49,765 | 57,672 | 22,007 |
| Liabilities to banks | ||||
| Disclosure of reconciliation of liabilities arising from financing activities | ||||
| Interest payments on financial liabilities | (3,113) | (1,856) | (43) | |
| Change in Cash Flow | (3,113) | (1,856) | (43) | |
| Additions (Disposals) | 10,000 | (3,712) | (86) | |
| Interest expenses | 3,113 | 1,856 | 43 | |
| Total change in liabilities | 13,113 | (1,856) | (43) | |
| Net debt at end of period | 10,000 | |||
| Lease liabilities | ||||
| Disclosure of reconciliation of liabilities arising from financing activities | ||||
| Interest payments on financial liabilities | (4,167) | (2,916) | (2,416) | |
| Lease payments | (10,057) | (7,925) | (4,059) | |
| Change in Cash Flow | (14,224) | (10,841) | (6,475) | |
| Net debt at beginning of period | 49,765 | 57,672 | 22,007 | |
| Additions (Disposals) | 169,095 | (21,663) | 26,772 | |
| Interest expenses | 4,167 | 2,916 | 2,417 | |
| Total change in liabilities | 173,262 | (18,747) | 29,189 | |
| Net debt at end of period | € 208,803 | € 49,765 | € 57,672 | € 22,007 |
Events after the reporting year (Details) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Sep. 03, 2025
employee
|
Jun. 30, 2026
EUR (€)
|
Oct. 30, 2025
item
|
Oct. 23, 2025
EUR (€)
|
Jun. 30, 2025
EUR (€)
item
|
Jun. 30, 2024
EUR (€)
|
Jun. 30, 2023
EUR (€)
|
|
| Disclosure of non-adjusting events after reporting period | |||||||
| Provisions | € 13,290,000 | € 2,789,000 | € 2,646,000 | ||||
| Restructuring provision | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Provisions | € 0 | ||||||
| Announcing or commencing implementation of major restructuring | Maximum | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Number of employees | employee | 700 | ||||||
| Announcing or commencing implementation of major restructuring | Maximum | Forecast | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Restructuring expenses | € 30,000,000 | ||||||
| Announcing or commencing implementation of major restructuring | Minimum | Forecast | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Restructuring expenses | € 22,000,000 | ||||||
| Supplier cash guarantee agreement | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Required deposit under supplier cash guarantee agreement | € 10,000,000 | ||||||
| Off Price | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Number of business brands within the segment | item | 2 | ||||||
| Off Price | Strategic evaluation of a potential divestiture | |||||||
| Disclosure of non-adjusting events after reporting period | |||||||
| Number of business brands under the segment evaluated for potential divestiture by the entity | item | 1 |