LUXEXPERIENCE B.V., 6-K/A filed on 2/12/2026
Amended Report of Foreign Issuer
v3.25.4
Document and Entity Information
 6 Months Ended
Dec. 31, 2025
Document and Entity Information  
Document Type 6-K/A
Document Period End Date Dec. 31, 2025
Entity Registrant Name LuxExperience B.V.
Entity Central Index Key 0001831907
Current Fiscal Year End Date --06-30
Document Fiscal Year Focus 2026
Document Fiscal Period Focus Q2
Amendment Description On February 12, 2026, LuxExperience B.V. (the “Company”) issued an amended interim report for the three and six-month periods ended December 31, 2025 and an amended Q2 fiscal year 2026 Earnings Press Release which are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively. This Amendment No. 1 to Form 6-K (this “Amendment” or “Form 6-K/A) amends the weighted average ordinary shares outstanding (basic and diluted) for the three months ended December 31, 2025 from 87.2 million shares to 140.1 million shares and for the six months ended December 31, 2025 from 87.2 million shares to 139.9 million shares, including related adjustments to basic and diluted earnings per share.
Amendment Flag true
v3.25.4
Unaudited Condensed Consolidated Statements of Loss and Comprehensive Loss - EUR (€)
€ in Thousands, shares in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Unaudited Condensed Consolidated Statements of Loss and Comprehensive Loss        
Net sales € 646,920 € 222,985 € 1,220,421 € 424,685
Cost of sales, exclusive of depreciation and amortization (338,345) (109,399) (660,964) (222,467)
Gross profit 308,575 113,585 559,457 202,219
Shipping and payment cost (101,848) (33,698) (187,186) (63,058)
Marketing expenses (61,805) (30,076) (111,805) (55,069)
Selling, general and administrative expenses (144,539) (48,726) (319,125) (104,739)
Depreciation and amortization (12,348) (3,929) (23,857) (11,057)
Other income (expense), net 1,547 302 (10,823) (876)
Operating loss (10,419) (2,543) (93,338) (32,580)
Finance income 1,417   3,369  
Finance costs (3,284) (1,953) (6,341) (3,174)
Finance costs, net (1,867) (1,953) (2,972) (3,174)
Loss before income taxes (12,286) (4,496) (96,311) (35,753)
Income tax (expense) benefit (358) (193) (2,927) 7,542
Net loss from continuing operations (12,644) (4,689) (99,238) (28,211)
Income (loss) from discontinued operations net of tax 5,208   (6,698)  
Net loss (7,436) (4,689) (105,935) (28,211)
Cash Flow Hedge (2,303) (4,213) (4,842) (3,178)
Income Taxes related to Cash Flow Hedge 643 1,176 1,351 887
Foreign currency translation (37) 47 6,234 18
Other comprehensive income (loss) (1,698) (2,990) 2,743 (2,273)
Comprehensive loss € (9,133) € (7,679) € (103,192) € (30,484)
Basic earnings (loss) per share continuing operations (in euro per share) [1] € (0.09) € (0.05) € (0.71) € (0.32)
Diluted earnings (loss) per share continuing operations (in euro per share) (0.09) (0.05) (0.71) (0.32)
Basic earnings (loss) per share discontinued operations (in euro per share) [1] 0.04 0 (0.05) 0
Diluted earnings (loss) per share discontinued operations (in euro per share) 0.04 0 (0.05) 0
Basic earnings (loss) per ordinary share (in euro per share) [1] (0.05) (0.05) (0.76) (0.32)
Diluted earnings (loss) per ordinary share (in euro per share) € (0.05) € (0.05) € (0.76) € (0.32)
Weighted average number of ordinary shares (basic) - in millions [1],[2] 140.1 87.2 139.9 87.2
Weighted average number of ordinary shares (diluted) - in millions 140.1 87.2 139.9 87.2
[1] The presented amounts for the three and six months ended December 31, 2025 have been revised in the interim condensed consolidated financial statements – refer to Note 19 for further details.
[2] In accordance with IAS 33, includes contingently issuable shares that are fully vested and can be converted at any time for no consideration. For further details, refer to note 14.
v3.25.4
Unaudited Condensed Consolidated Statements of Loss and Comprehensive Loss (Parenthetical)
Dec. 31, 2025
€ / shares
Unaudited Condensed Consolidated Statements of Loss and Comprehensive Loss  
Exercise price of contingently issuable shares, per share € 0
v3.25.4
Unaudited Condensed Consolidated Statements of Financial Position - EUR (€)
€ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Non-current assets    
Intangible assets and goodwill € 156,172 € 156,731
Property and equipment 54,331 55,901
Right-of-use assets 169,729 201,131
Deferred tax assets 1,418 1,683
Non-current financial assets 125,000  
Other non-current assets 21,261 11,878
Total non-current assets 527,911 427,323
Current assets    
Inventories 1,033,134 1,019,539
Trade and other receivables 36,406 96,676
Other assets 164,745 134,766
Cash and cash equivalents 418,601 603,593
Assets classified as held for sale 44,404  
Total current assets 1,697,290 1,854,574
Total assets 2,225,201 2,281,897
Shareholders' equity and liabilities    
Subscribed capital 2 2
Capital reserve 921,503 912,039
Retained earnings 351,257 457,192
Accumulated other comprehensive income (losses) (1,725) (4,469)
Total shareholders' equity 1,271,037 1,364,764
Non-current liabilities    
Provisions 5,157 4,484
Lease liabilities 149,321 176,718
Deferred income tax liabilities 385 11
Other non-current liabilities 291 364
Total non-current liabilities 155,155 181,578
Current liabilities    
Liabilities to banks 10,000 10,000
Tax liabilities 2,856 2,764
Lease liabilities 30,337 32,085
Contract liabilities 49,166 49,343
Trade and other payables 234,960 285,722
Other current liabilities 447,751 346,835
Current provisions 8,922 8,807
Liabilities associated with assets held for sale 15,019  
Total current liabilities 799,009 735,555
Total liabilities 954,164 917,133
Total shareholders' equity and liabilities € 2,225,201 € 2,281,897
v3.25.4
Unaudited Condensed Consolidated Statements of Changes in Equity - EUR (€)
€ in Thousands
Subscribed capital
Capital reserve
Retained earnings (losses)
Hedging reserve
Foreign currency translation reserve
Total
Balance at beginning of period at Jun. 30, 2024 € 1 € 546,913 € (112,767)   € 1,496 € 435,643
Net loss     (28,211)     (28,211)
Other comprehensive income (loss)       € (2,291) 18 (2,273)
Comprehensive loss     (28,211) (2,291) 18 (30,484)
Reclassification due to cash settlement of share-based compensation   (66)       (66)
Share-based compensation   9,642       9,462
Balance at ending of period at Dec. 31, 2024 1 556,489 (140,978) (2,291) 1,514 414,736
Balance at beginning of period at Jun. 30, 2025 2 912,039 457,192   (4,469) 1,364,764
Net loss     (105,935)     (105,935)
Other comprehensive income (loss)       (3,490) 6,234 2,743
Comprehensive loss     (105,935) (3,490) 6,234 (103,192)
Share options exercised   2,460       2,460
Share-based compensation   7,004       7,004
Balance at ending of period at Dec. 31, 2025 € 2 € 921,503 € 351,257 € (3,490) € 1,765 € 1,271,037
v3.25.4
Unaudited Condensed Consolidated Statements of Cash Flows - EUR (€)
€ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Unaudited Condensed Consolidated Statements of Cash Flows    
Net Loss € (105,935) € (28,211)
Adjustments for    
Depreciation and amortization, impairment and asset disposals 25,146 11,057
Finance (income) costs, net 3,460 3,174
Share-based compensation 7,004 9,642
Income tax (benefit) expense 2,927 (7,542)
Change in operating assets and liabilities    
(Increase) decrease in inventories (40,231) (33,935)
Decrease in trade and other receivables 61,951 2,432
(Increase) Decrease in other assets (41,194) 11,121
Increase in other liabilities 101,847 14,403
Increase (Decrease) in contract liabilities 11 (185)
(Decrease) in trade and other payables (47,237) (13,405)
Income taxes paid (372) (1,158)
Interest received 3,369  
Net cash used in operating activities (29,255) (32,607)
Expenditure for property, equipment and intangible assets (5,616) (1,708)
Proceeds from the sale of property, equipment and intangible assets 813  
Investment in fixed income securities (125,000)  
Net cash used in investing activities (129,803) (1,708)
Interest paid (5,714) (3,045)
Proceeds from borrowings   40,594
Lease payments (19,844) (4,572)
Proceeds from exercise of option awards 2,460  
Cash settlement of share-based compensation   (66)
Net cash inflow from financing activities (23,098) 32,911
Net decrease in cash and cash equivalents (182,155) (1,404)
Cash and cash equivalents at the beginning of the period 603,593 15,107
Effects of exchange rate changes on cash and cash equivalents (2,836) 134
Cash and cash equivalents at end of the period € 418,601 € 13,836
v3.25.4
Corporate information
 6 Months Ended
Dec. 31, 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 the digital platform Mytheresa for the global luxury fashion consumer, in addition to its two retail stores in Munich, dedicated to womenswear and menswear. Mytheresa 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.

On October 31, 2025, LuxExperience announced that it has entered into a binding agreement with The O Group LLC to sell the set of assets powering THE OUTNET platform. As of the reporting date, management considered the sale as being highly probable. Refer to Note 9 - Discontinued Operations for further detail.

As of December 31, 2025, 47.6% of the shares of the Company were held by MYT Holding LLC, USA, and 35.7% of the shares of the Company were held by Richemont Italia Holding S.p.A., Italia, a subsidiary of Compagnie Financière Richemont SA. In management’s judgement, the ultimate controlling party of LuxExperience Group as of December 31, 2025, is MYT Ultimate Parent LLC, USA.

The interim condensed consolidated financial statements of LuxExperience Group were authorized for issue by the Management Board on February 12, 2026.
v3.25.4
Basis of preparation
 6 Months Ended
Dec. 31, 2025
Basis of preparation  
Basis of preparation

2.Basis of preparation

These interim condensed consolidated financial statements as of and for the three months and six months ended December 31, 2024 and 2025 were prepared in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’, as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial and notes thereto included in the Company’s Annual Report on Form 20-F for the year ended June 30, 2025, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the IASB, taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRIC”).

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

As a result of the Company’s acquisition of YNAP in April 2025, the interim condensed consolidated financial statements for the three months and six months ended December 31, 2025, include the results and financial position of the acquired business. Accordingly, the amounts presented for the three and six months ended December 31, 2024, in the comparative statements of loss and comprehensive loss, statements of changes in equity and statements of cash flows, do not reflect the operations of the acquired business and are therefore not directly comparable. Further details of the business combination are provided in Note 6 – Business Combinations.

The interim condensed 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.
v3.25.4
Functional and presentation currency
 6 Months Ended
Dec. 31, 2025
Functional and presentation currency  
Functional and presentation currency

3.

Functional and presentation currency

The interim condensed consolidated financial statements have been prepared on a historical cost basis, unless otherwise stated. The interim condensed consolidated financial statements are presented in Euro (“€”), which is LuxExperience Group’s functional currency. All amounts are rounded to the nearest thousands, except when otherwise indicated. Due to rounding, differences may arise when individual amounts or percentages are added together.
v3.25.4
Material accounting policies
 6 Months Ended
Dec. 31, 2025
Material accounting policies  
Material accounting policies

4.Material accounting policies

The accounting policies applied by LuxExperience Group in these interim condensed consolidated financial statements are consistent with those applied in the Group’s consolidated financial statements for fiscal year 2025, except for (i) the classification and presentation of THE OUTNET disposal group as held for sale and discontinued operations in accordance with IFRS 5 Non - current Assets Held for Sale and Discontinued Operations (see Note 9 - Discontinued Operations) and (ii) the recognition, classification and measurement of certain treasury investments accounted for under IFRS 9 Financial Instruments (see Note 16 – Investments measured at amortized cost).
v3.25.4
Critical accounting judgments and key estimates and assumptions
 6 Months Ended
Dec. 31, 2025
Critical accounting judgments and key estimates and assumptions  
Critical accounting judgments and key estimates and assumptions

5.Critical accounting judgments and key estimates and assumptions

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

In preparing the interim condensed consolidated financial statements, the significant judgments made by management in applying LuxExperience Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for fiscal year 2025.
v3.25.4
Business Combinations
 6 Months Ended
Dec. 31, 2025
Business Combinations  
Business Combinations

6.Business Combinations

As disclosed in Note 1 - Corporate Information, on April 23, 2025, the Company acquired 100% of the shares of YOOX Net-A-Porter Group S.p.A. (“YNAP” or the “YNAP Group”) from Richemont Italia Holding S.p.A. (“Richemont”) and thereby obtained control of the YNAP Group.

​

The total consideration transferred amounted to €330.2 million. This was comprised of 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.

In the consolidated financial statements in the Company’s Annual Report on Form 20-F for the year ended June 30, 2025, the acquisition was accounted for in accordance with IFRS 3 Business Combinations. The identifiable net assets acquired were initially measured at their fair values as of the acquisition date. As the fair value of the identifiable net assets acquired exceeded the consideration transferred, a gain on bargain purchase of €623.5 million was recognized in the consolidated statements of profit or loss and comprehensive income or loss in the Company’s Annual Report on Form 20-F for the year ended June 30, 2025.

The gain on bargain purchase arose primarily because the consideration transferred was based on the market value of the Company’s shares at the acquisition date, which was lower than the fair value of YNAP’s identifiable net assets. In accordance with IFRS 3, the Group performed a comprehensive reassessment of the assets acquired and liabilities assumed to confirm the appropriateness of their recognition and measurement.
v3.25.4
Segment information
 6 Months Ended
Dec. 31, 2025
Segment information  
Segment information

7.Segment 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:

●Online operations, primarily represented by the Mytheresa online platform, and
●Retail stores, comprised of the two retail stores in Munich, Germany

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 the two retail stores in Munich which are now included within the Luxury | Mytheresa segment.

On October 31, 2025, LuxExperience announced that it has entered into a binding agreement with The O Group LLC to sell the set of assets powering THE OUTNET platform. The assets and liabilities of the disposal group have been classified as held for sale, and the results of operations have been presented as discontinued operations in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. THE OUTNET, which was previously managed and monitored as a separate major line of business within the Off-Price segment, has therefore been removed from the Off-Price segment for the three and six months ended December 31, 2025, and its results are presented separately within discontinued operations. The results of THE OUTNET were previously included in the Off-Price segment in the annual consolidated financial statements and notes included in the Company’s Annual Report on Form 20-F for the year ended June 30, 2025. Further information on THE OUTNET and the discontinued operations presentation can be found in Note 9 within the notes to the financial statements.

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:

●Luxury | Mytheresa, represents Mytheresa business including the Mytheresa online platform and the two retail stores in Munich,
●Luxury | NAP & MRP comprises the in-season luxury online brands Net-A-Porter and Mr Porter,
●Off-Price, represents the off-season luxury brand YOOX

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 the two retail stores to the newly combined operating segment Luxury | Mytheresa for the three and six months ended December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2024 (restated) (3)

​

​

​

​

Retail 

​

Corporate

​

Luxury

​

​

​

IFRS 

(in € thousands) (unaudited)

  ​ ​ ​

Online

  ​ ​ ​

Stores

  ​ ​ ​

Costs (1) (3)

  ​ ​ ​

Mytheresa

  ​ ​ ​

Adjustment (2)

  ​ ​ ​

consolidated

Net Sales

 

218,911

 

4,074

​

—

​

222,985

​

—

 

222,985

Segment EBITDA

 

20,450

 

1,387

​

(5,659)

​

16,178

​

(14,792)

 

1,386

Depreciation and amortization

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(3,929)

Finance income (costs), net

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(1,953)

Income tax expense

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(193)

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(4,689)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2024 (restated) (3)

​

​

​

​

Retail

​

Corporate

​

Luxury

​

​

​

IFRS

(in € thousands) (unaudited)

  ​ ​ ​

Online

  ​ ​ ​

Stores

  ​ ​ ​

Costs (1) (3)

  ​ ​ ​

Mytheresa

  ​ ​ ​

Adjustment (2)

  ​ ​ ​

consolidated

Net Sales

 

416,927

 

7,759

 

—

​

424,686

​

—

 

424,685

Segment EBITDA

 

25,800

 

2,461

 

(9,159)

​

19,102

​

(40,625)

 

(21,523)

Depreciation and amortization

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(11,057)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

​

(3,174)

Income tax expense

​

​

​

​

​

​

​

​

​

​

​

7,542

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(28,211)

(1)During the three and six months ended December 31, 2024, there were €5,659 thousand and €9,159 thousand in corporate administrative expenses that were not assigned to either the online operations or the retail stores.
(2)Additionally, during the three and six months ended December 31, 2024, there were €9,645 thousand and €30,983 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €5,147 thousand and €9,642 thousand during the respective periods.
(3)For the three and six months ended December 31, 2024, corporate costs were not allocated to any segment. Starting with the annual report for fiscal year 2025, and driven by the YNAP acquisition and the resulting changes in the Group structure, management now allocates corporate costs to the respective segments. The impact of this change for the three months and six months ended December 31, 2024 is presented in the “Corporate costs” column in the table above.

​

The following is a reconciliation of the Company’s segment EBITDA to consolidated net income from the operating segments Luxury | Mytheresa, Luxury NAP & MRP, Off-Price YOOX and Other for the three and six months ended December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2025

​

​

Luxury

​

Luxury NAP

​

Off-Price

​

​

​

​

​

​

(in € millions) (unaudited)

  ​ ​ ​

Mytheresa

  ​ ​ ​

& MRP

  ​ ​ ​

YOOX

  ​ ​ ​

Other (3)

  ​ ​ ​

Reconciliation(1)(2)(4)(5)

  ​ ​ ​

Consolidated

Net sales

 

242.7

​

277.1

​

125.3

​

1.8

​

—

​

646.9

Segment EBITDA

 

22.6

​

(1.9)

​

(7.5)

​

0.3

​

(11.5)

​

1.9

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

​

(12.3)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

​

(1.9)

Income tax expense

​

​

​

​

​

​

​

​

​

​

​

(0.3)

Net loss from continuing operations

​

​

​

​

​

​

​

​

​

​

​

(12.6)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

​

Luxury

​

Luxury NAP

​

Off-Price

​

​

​

​

​

​

(in € millions) (unaudited)

  ​ ​ ​

Mytheresa

  ​ ​ ​

& MRP

  ​ ​ ​

YOOX

  ​ ​ ​

Other (3)

  ​ ​ ​

Reconciliation(1)(2)(4)(5)

  ​ ​ ​

Consolidated

Net sales

 

469.1

 

489.3

 

243.9

​

21.0

​

(2.9)

 

1,220.4

Segment EBITDA

 

30.5

 

(12.2)

 

(26.6)

​

3.5

​

(64.7)

 

(69.5)

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(23.9)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

 

(3.0)

Income tax expense

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(2.9)

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(99.2)

(1)Other transaction-related, certain legal and other expenses include professional fees (including advisory and accounting fees) related to potential transactions, as well as certain legal and other expenses incurred outside the ordinary course of business. For the three and six months ended December 31, 2025, expenses of €11,765 thousand and €53,739 thousand, respectively, were incurred and are reflected in the reconciliation column. These amounts have been excluded from Segment EBITDA and primarily impact Shipping and payment costs, Selling, general and administrative expenses, and Other income (expense), net.
(2)Certain members of management and supervisory board members have been granted share-based compensation for which the related expense is recognized over the applicable vesting periods. Management adjusts Segment EBITDA to exclude share-based compensation expense, as it is not considered indicative of the Group’s underlying operating performance. For the three and six months ended December 31, 2025, share-based compensation expense amounted to €3,531 thousand and €7,004 thousand, respectively, and is reflected in the reconciliation column, primarily within Selling, general and administrative expenses.
(3)Represents Online Flagship Stores (“OFS”) and Feng-Mao (“FM”) businesses being wound down.
(4)During the three and six months ended December 31, 2025, intercompany sales of €0 and €2,858 thousand, respectively, were included in Net sales, with corresponding amounts included in Cost of sales, exclusive of depreciation and amortization. As these intercompany transactions are eliminated on consolidation, the related amounts are reflected in the reconciliation column.
(5)Includes foreign exchange gains and losses arising on intercompany cash pooling positions, recorded in Other income (expense), net. These amounts are excluded from Segment EBITDA, as they reflect increased foreign exchange volatility on intra-group cash balances. The adjustment represents a foreign exchange gain of €3,795 thousand for the three months ended December 31, 2025 and a foreign exchange loss of €3,914 thousand for the six months ended December 31, 2025.
v3.25.4
Net Sales and geographic information
 6 Months Ended
Dec. 31, 2025
Net Sales and geographic information  
Net Sales and geographic information

8.Net Sales and geographic information

LuxExperience Group earns revenues worldwide through its online operations, while all revenue associated with the 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. In addition, LuxExperience recognizes monetization revenues.

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended December 31,

 

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Germany

​

31,686

  ​ ​ ​

14.2

%  

55,222

  ​ ​ ​

8.5

%

United States

 

45,979

 

20.6

%  

213,571

 

33.0

%

United Kingdom

​

17,415

​

7.8

%  

70,291

​

10.9

%  

Europe (excluding Germany and the United Kingdom) (1)

 

74,321

 

33.3

%  

182,714

 

28.2

%

Rest of the world

 

53,583

 

24.0

%  

125,122

 

19.3

%

​

 

222,985

​

100.0

%  

646,920

 

100.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

For the six months ended December 31,

 

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Germany

 

59,238

  ​ ​ ​

13.9

%  

103,839

  ​ ​ ​

8.5

%

United States

 

87,025

 

20.5

%  

393,916

 

32.3

%

United Kingdom

​

33,329

​

7.8

%

137,382

​

11.3

%

Europe (excluding Germany and the United Kingdom) (1)

 

145,501

 

34.3

%  

350,863

 

28.7

%

Rest of the world

 

99,591

 

23.5

%  

234,421

 

19.2

%

​

 

424,685

 

100.0

%  

1,220,421

 

100.0

%

(1)

No individual country other than the United States and United Kingdom accounted for more than 10% of net sales during the three and six months ended December 31, 2025.

Substantially all amounts classified within net sales are derived from the sale of luxury and fashion goods as well as the 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.

Application of hedge accounting resulted in a €939 thousand and €752 thousand decrease in sales for three and six months ended December 31, 2024 respectively. For the three and six months ended December 31, 2025, the application of hedge accounting resulted in a decrease in sales of €158 thousand and €225 thousand respectively.
v3.25.4
Discontinued Operations
 6 Months Ended
Dec. 31, 2025
Discontinued Operations  
Discontinued Operations

9.Discontinued Operations

During the six months ended December 31, 2025, we commenced a strategic evaluation of a potential divestiture involving a discontinued operation of the Off-Price | YOOX Segment, THE OUTNET, which was acquired in connection with the Company’s acquisition of YNAP Group on April 23, 2025. THE OUTNET was identified during the post-acquisition integration process as non-core to our long-term strategic objectives.

On September 15, 2025, the Company received a binding offer from The O Group LLC to purchase a defined group of assets and liabilities associated with THE OUTNET. On October 31, 2025, LuxExperience announced that it has entered into a binding agreement with The O Group LLC to sell the set of assets powering THE OUTNET platform, including the relevant brand rights, customer data, inventory and the required work-force in the United States and the United Kingdom, in exchange for cash consideration of €26.1 million (USD / EUR exchange rate applied was 1.15). The closing of the transaction is expected to occur in the third fiscal quarter of our fiscal year 2026. The final consideration amount is subject to working capital adjustments and customary closing conditions, including regulatory approvals and payment of the purchase price.

As of September 30, 2025 and December 31, 2025, management determined that the sale of the defined group of assets and liabilities associated with THE OUTNET was highly probable. Therefore, the assets and liabilities of the disposal group have been classified as held for sale, and the results of operations have been presented as discontinued operations for the respective periods in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.

The major classes of assets and liabilities classified as held for sale as of December 31, 2025, relating to THE OUTNET, were as follows:

​

​

​

​

​

  ​ ​ ​

As of 

(in € thousands)

​

December 31, 2025

Right of use assets

​

15,413

Lease liabilities – long term

 

(12,155)

Lease liabilities – short term

 

(2,864)

Inventory

 

24,866

Right of return assets

 

4,125

Property, plant and equipment

 

—

Intangible assets

 

—

​

 

29,386

​

The results of THE OUTNET have been presented as discontinued operations in the condensed consolidated statements of loss and comprehensive loss, for the three and six months ended December 31, 2025. Comparative information has not been provided as THE OUTNET was acquired in connection with the acquisition of YNAP Group, and was therefore not owned or consolidated by the Company in the prior-year comparative periods presented. The components of the loss from discontinued operations related to THE OUTNET for the three and six months ended December 31, 2025 were as follows:

​

​

​

​

​

​

Three Months Ended

(in € thousands)

  ​ ​ ​

December 31, 2025

Net sales

 

57,291

Cost of sales, exclusive of depreciation and amortization

 

(30,102)

Gross profit

 

27,189

Shipping and payment cost

 

(10,021)

Marketing expenses

 

(2,446)

Selling, general and administrative expenses

 

(9,279)

Depreciation and amortization

 

—

Other income (loss), net

 

—

Operating income

 

5,443

Finance income (costs), net

 

(235)

Net income before income taxes

 

5,208

Income tax (expense) benefit

 

—

Net income from discontinued operations

 

5,208

​

​

​

​

​

​

Six Months Ended

(in € thousands)

  ​ ​ ​

December 31, 2025

Net sales

​

98,270

Cost of sales, exclusive of depreciation and amortization

​

(58,482)

Gross profit

 

39,788

Shipping and payment cost

 

(17,117)

Marketing expenses

 

(4,554)

Selling, general and administrative expenses

 

(23,497)

Depreciation and amortization

 

(830)

Other income (loss), net

 

—

Operating loss

 

(6,209)

Finance income (costs), net

 

(488)

Loss before income taxes

 

(6,697)

Income tax (expense) benefit

 

—

Net loss from discontinued operations

 

(6,697)

​

For the three and six months ended December 31, 2025, of the €30,102 thousand and €58,482 thousand cost of sales, exclusive of depreciation and amortization for the disposal group, €3 thousand and €11,426 thousand relates to inventory write-downs arising from the measurement of the disposal group in accordance with IFRS 5, which requires inventory to be stated at fair value less costs to sell. Basic and diluted earnings per share for continuing and discontinued operations are presented on the face of the condensed consolidated statements of loss and comprehensive loss.

The following table shows a summary of cash flow information for the six months ended December 31, 2025 of the discontinued operation:

​

​

​

​

​

  ​ ​ ​

Six Months Ended

(in € thousands)

​

December 31, 2025

Consolidated Statement of Cash Flow Data:

 

  ​

Net cash outflow from operating activities

 

(11,063)

Net cash outflow from investing activities

 

—

Net cash change from financing activities

 

(2,322)

​
v3.25.4
Cost of sales, exclusive of depreciation and amortization
 6 Months Ended
Dec. 31, 2025
Cost of sales, exclusive of depreciation and amortization.  
Cost of sales, exclusive of depreciation and amortization

10.Cost of sales, exclusive of depreciation and amortization

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

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months Ended December 31,

  ​ ​ ​

Six Months Ended December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

Inventory write-downs

 

(1,751)

 

(4,062)

 

(5,335)

 

(7,252)

​

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. Specific inventory located in the Leipzig warehouse, with a carrying amount of approximately €408 million as of December 31, 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.
v3.25.4
Finance income (costs), net
 6 Months Ended
Dec. 31, 2025
Finance income (costs), net  
Finance income (costs), net

11.Finance income (costs), net

The following table provides LuxExperience Group’s Finance income (costs), net:

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended December 31,

​

Six Months Ended December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

2025

Interest expenses on revolving credit facilities

 

(1,277)

 

(769)

 

(1,820)

​

(1,266)

Interest expenses on leases

 

(675)

 

(2,515)

 

(1,354)

​

(5,075)

Total finance costs

 

(1,953)

 

(3,284)

 

(3,174)

​

(6,341)

​

​

​

​

​

​

​

​

​

Other interest income

​

—

​

1,417

​

—

​

3,369

Total finance income

 

—

 

1,417

 

—

​

3,369

Finance costs, net

 

(1,953)

 

(1,867)

 

(3,174)

​

(2,972)

​

As of December 31, 2025 LuxExperience Group utilized €19.4 million under our €100 million Syndicated Revolving Credit Facility, of which €9.4 million line was utilized in the form of guarantees issued under the same facility.
v3.25.4
Income taxes
 6 Months Ended
Dec. 31, 2025
Income taxes  
Income tax expense

12.Income taxes

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

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months Ended December 31,

  ​ ​ ​

Six Months Ended December 31,

 

(in %)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Effective tax rate

 

(4.3)

%  

(2.81)

%  

21.1

%  

(3.04)

%

​

For the three months ended December 31, 2024, the Group recognized an income tax expense on a loss before income taxes, resulting in a negative effective tax rate. For the six months ended December 31, 2024, the Group recognized an income tax benefit on a loss before income taxes, resulting in a positive effective tax rate.

For the three months and six months ended December 31, 2025, the Group reported losses before income taxes and recognized income tax expenses based on the expected annual taxable position of certain entities within the Group. As a result, negative effective tax rates were recorded for these interim periods.
v3.25.4
Other assets
 6 Months Ended
Dec. 31, 2025
Other assets  
Other assets

13.Other assets

Details of other current assets consist of the following:

​

​

​

​

​

​

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

December 31, 2025

Right of return assets

 

51,373

​

39,151

Current VAT receivables

​

3,223

​

1,438

Prepaid expenses

 

20,852

 

15,657

Receivables against payment service providers

​

9,033

​

11,583

Advanced payments

​

10,043

​

19,193

Current tax receivables

​

7,182

​

11,326

DDP duty drawbacks (1)

​

9,722

​

22,255

Other current assets (2)

​

23,337

​

44,142

​

 

134,766

​

164,745

(1)

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

(2)

Other current assets consist mostly of other short-term receivables and creditors with debit balances.

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

​

​

​

​

​

​

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

December 31, 2025

Other non-current receivables

​

1

​

—

Non-current deposits

​

5,186

​

15,057

Non-current deposits

​

5,186

​

5,057

Non-current restricted cash and cash equivalents (4)

​

—

​

10,000

Non-current prepaid expenses (3)

​

6,691

​

6,204

​

​

11,878

​

21,261

(3)

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

(4)

This amount relates to a €10.0 million deposit for a supplier cash guarantee.
v3.25.4
Share-based compensation
 6 Months Ended
Dec. 31, 2025
Share-based compensation  
Share-based compensation

14.Share-based compensation

a)Description of share-based compensation arrangements

In connection with the Initial Public Offering (“IPO”) of MYT Netherlands Parent B.V. in January 2021, we adopted the 2020 Plan (MYT Netherlands Parent B.V. 2020 Omnibus Incentive Compensation Plan), under which we granted equity-based awards to selected key management members and supervisory board members on January 20, 2021. Selected key management members were granted an IPO-related award package. This package consists of the “Alignment Grant” and the “Restoration Grant”. Furthermore, restricted shares were granted to supervisory board members as part of the annual plan. Additionally, the Compensation Committee of the Supervisory Board proposes to the Supervisory Board annually about a Long-Term Incentive Plan (LTI). As of July 1, 2021, 2022, 2023, 2024 and 2025, 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, on July 1, 2024 and on July 1, 2025 certain stock options were granted to selected key management members under the new 2023 Omnibus Incentive Compensation Plan on the November 8, 2023 (the “2023 Plan”).

The 2023 Plan was amended in the Second Amended 2023 Plan to include, inter alia, an adjustment of the pool of reserved shares that may be amended and restated at the extraordinary general meeting of shareholders held on March 6, 2025 (the “Second Amended 2023 Plan”). The changes implemented 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 to encourage long-term relationship with the company and its employees. Pursuant to paragraphs 21(g) and 24 of IAS 33, as certain shares are fully vested and contingently issuable for no consideration, they are treated as outstanding and included in the calculation of both basic and diluted earnings per share.

i)IPO Related One-Time Award Package

Alignment Grant

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

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.

ii)Annual Plan

Supervisory Board Members Plan

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 vested 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.

On December 17, 2025, 94,006 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 December 17, 2026. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 8.51, the closing share price of the grant date.

​

​

​

​

​

​

Type of arrangement

  ​ ​ ​

Supervisory Board Members plan

Type of Award

​

Restricted Shares / Restricted Share Units

​

Restricted Shares / Restricted Share Units

Date of grant

​

November 12, 2024

  ​ ​ ​

December 17, 2025

Number granted

 

85,502

​

94,006

Vesting conditions

 

The restricted share units vested in full on November 12, 2025

​

The restricted share units will vest in full on December 17, 2026.

​

iii)Long-Term Incentive Plan

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. One-third (1/3) of the time-vesting RSUs awarded vested on June 30, 2025, with the remaining RSUs scheduled to vest in substantially equal installments on June 30, 2026 and June 30, 2027, subject to continued service on each applicable vesting date.

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

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

On October 1, 2024, 102,740 time-vesting RSUs were granted to selected key management member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience B.V. upon vesting, based on the deemed value of award on grant date. The total number of RSU’s vested 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.

On July 1, 2025, 2,087,724 stock options were granted to selected key management members. One third (1/3) of the options vest and become exercisable on each on the first three anniversaries of the service commencement date. After vesting, each option grants the right to purchase one share at a price of USD 7.89. 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, 2025, 1,313,946 time-vesting RSUs were granted to selected key management member. Each RSU represents the right to receive an ADS (and the ordinary shares represented thereby) of LuxExperience B.V. upon vesting, based on the deemed value of award on grant date. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 7.94, the closing share price of the day before the grant date.

On July 1, 2025, 1,106,332 RSUs non-market performance 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. The non-market performance RSUs will vest after 3 years on June 30, 2028 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 7.94.

On September 1, 2025, 3,449 time-vesting 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. The total number of RSU’s will vest on July 1, 2026. As the RSUs are not subject to an exercise price, the grant date fair value amounts to USD 9.28, the closing share price of the day before the grant date.

On October 1, 2025, 6,465 stock options were granted to selected key management members. One third (1/3) of the options vest and become exercisable on each on the first three anniversaries of the service commencement date. After vesting, each option grants the right to purchase one share at a price of USD 7.97. 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, 2025, 3,730 time-vesting 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 RSUs are not subject to an exercise price, the grant date fair value amounts to USD 8.50, the closing share price of the day before the grant date.

On October 1, 2025, 3,178 RSUs non-market performance 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. The non-market performance RSUs will vest after 3 years on June 30, 2028 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 8.50, 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:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Key Management Members

Type of arrangement

  ​ ​ ​

Long-Term Incentive Plan

Type of Award

​

Time-vesting RSUs

Service commencement date

​

July 1, 2024

  ​ ​ ​

Oct. 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

September 1, 2025

  ​ ​ ​

October 1, 2025

Grant date

​

July 1, 2024

​

Oct. 1, 2024

​

July 1, 2025

​

September 1, 2025

​

October 1, 2025

Number granted

​

1,252,241

​

102,740

​

1,313,946

​

3,449

​

3,730

Vesting conditions

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

Vested in full on July 1, 2025.

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

Will vest in full on July 1, 2026.

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

The following tables summarize the main features of non-market performance RSUs and stock option awards under the annual plan:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Key Management Members 

Type of arrangement

​

Long-Term Incentive Plan

Type of Award

 

Stock options

Service commencement date

​

July 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

July 1, 2025

Grant date

​

July 1, 2024

​

July 1, 2025

​

October 1, 2025

Number granted

​

3,277,477

​

2,087,724

​

6,465

Vesting conditions

​

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

​

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

​

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

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Key Management Members 

Type of arrangement

​

Long-Term Incentive Plan

Type of Award

 

Non-market performance RSUs

Service commencement date

​

July 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

July 1, 2025

Grant date

​

July 1, 2024

​

July 1, 2025

​

October 1, 2025

Number granted

​

1,043,193

​

1,106,332

​

3,178

Vesting conditions

​

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

​

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

​

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

​

Employee Share Purchase Program (ESPP)

​

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

b)Measurement of fair values

Stock Options from Long-Term Incentive Plan

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

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Grant date

  ​ ​ ​

Grant date

 

Grant date

 

Black Scholes Model - Weighted Average Values

​

July 1, 2024

​

July 1, 2025

  ​ ​ ​

October 1, 2025

 

Weighted average fair value

​

$

1.82

​

$

2.82

​

$

2.84

​

Exercise price

​

$

5.07

​

$

7.89

​

$

7.97

​

Weighted average share price

​

$

5.07

​

$

7.89

​

$

7.97

​

Expected volatility

​

 

64.47

%  

 

65.43

%  

 

64.69

%

Expected life

​

 

1.97

years

 

1.97

years

 

1.97

years

Risk free rate

​

 

2.88

%  

 

1.82

%  

 

1.97

%

Expected dividends

​

 

—

​

 

—

​

 

—

​

​

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.

c)Share-based compensation expense recognized

Amounts recognized for share based payment programs were as follows:

​

​

​

​

​

​

​

​

Six Months Ended

​

​

December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

Classified within capital reserve (beginning of period)

 

175,591

 

188,031

Expense related to:

 

9,576

 

7,004

Share Options (Alignment Grant)

 

3,787

 

—

Share Options (LTI)

​

1,805

​

2,200

Restricted Share Units (Supervisory Board Members Plan)

​

181

​

210

Restricted Share Units (LTI)

 

3,803

 

4,594

Classified within capital reserve (end of period)

 

185,167

 

195,035

​

d)Reconciliation of outstanding share options

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

​

​

​

​

​

​

​

​

Alignment Award

​

​

​

​

Wtd. Average

​

​

Options

​

Exercise Price (USD)

June 30, 2024

  ​ ​ ​

6,063,090

  ​ ​ ​

8.57

forfeited

 

(21,165)

 

11.58

granted

 

—

 

N/A

December 31, 2024

 

6,041,925

 

8.56

​

​

​

​

​

June 30, 2025

 

4,653,477

 

9.09

exercised

 

(35,634)

 

6.84

forfeited

 

—

 

N/A

granted

​

—

​

N/A

December 31, 2025

 

4,617,843

 

9.11

​

The range of exercise prices for the share options outstanding as of December 31, 2025 is between 5.79 USD and 11.58 USD. The average remaining contractual life is 5.06 years.

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

​

​

​

​

​

​

​

​

Share Options under the Long-Term

​

​

Incentive Plan

​

​

​

​

Wtd. Average

​

​

Options

​

Exercise Price (USD)

June 30, 2024

  ​ ​ ​

3,309,066

  ​ ​ ​

4.00

forfeited

 

(6,508)

 

4.00

granted

​

3,277,477

​

5.07

December 31, 2024

​

6,580,035

​

4.53

​

​

​

​

​

June 30, 2025

​

6,378,249

​

4.55

exercised

​

(833,284)

​

4.08

forfeited

​

(56,280)

​

7.52

granted

 

2,094,189

 

7.88

December 31, 2025

 

7,582,874

 

5.49

​

The range of exercise prices for the share options outstanding as of December 31, 2025 is between 4.00 USD and 7.89 USD. The average remaining contractual life is 8.47 years.
v3.25.4
Other current liabilities
 6 Months Ended
Dec. 31, 2025
Other current liabilities  
Other current liabilities

15.Other current liabilities

Details of other liabilities consist of the following:

​

​

​

​

​

​

​

​

​

​

December 

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

31, 2025

Personnel-related liabilities (1)

​

34,272

​

56,804

Customer returns

 

83,078

 

77,934

Liabilities from sales tax

 

35,758

 

34,612

Accrued expenses & other liabilities

 

193,727

 

278,401

Total

 

346,835

 

447,751

(1)

Personnel-related liabilities include amounts related to the transformation plan described below.

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.

The Company expects to incur further restructuring expenses of approximately €22.4 million worldwide in connection with the planned reduction of the workforce during fiscal year 2026, including employee termination benefits and other related costs. As of the reporting date, €22.4 million has been included in other current liabilities on the condensed consolidated statement of financial position. This amount represents management’s best estimate, based on information available at the reporting date, of the costs expected to be incurred in connection with these contemplated actions. In connection with the above announcement, approximately €35.7 million of restructuring expenses have been expensed to date and have been included in selling, general and administrative expenses on the condensed consolidated statement of loss and comprehensive loss.
v3.25.4
Investments measured at amortized cost
 6 Months Ended
Dec. 31, 2025
Investments measured at amortized cost  
Investments measured at amortized cost

16.Investments measured at amortized cost

During the three months ended December 31, 2025, as part of its cash management program, the Group entered into certain treasury investments that are accounted for in accordance with IFRS 9 Financial Instruments. As of December 31, 2025, the Group held treasury investments comprised of a €50.0 million guaranteed senior secured fixed rate note and a €75.0 million equity-secured note. The investments are accounted for under IFRS 9 Financial Instruments and are classified as financial assets measured at amortized cost, as they are held within a business model to collect contractual cash flows and their contractual terms give rise solely to payments of principal and interest.

The investments are initially recognized at fair value, including transaction costs, and are subsequently measured using the effective interest method, with interest income recognized in finance income. The equity-secured note, which is redeemable subject to a 95-day notice period, is classified as a non-current financial asset as settlement is not contractually due within twelve months of the reporting date. The guaranteed senior secured fixed rate note, which has a contractual maturity exceeding twelve months from the reporting date, is also classified as a non-current financial asset.

Impairment is assessed at each reporting date using a 12-month expected credit loss approach, as no significant increase in credit risk has occurred since initial recognition. Based on the investment-grade credit quality of the counterparties, the senior or secured nature of the instruments, and the presence of guarantees and collateralization, expected credit losses are assessed as nil or immaterial, and no loss allowance has been recognized as of December 31, 2025. The accounting treatment is consistent with the Group’s accounting policies applied in its most recent annual consolidated financial statements.
v3.25.4
Financial instruments and financial risk management
 6 Months Ended
Dec. 31, 2025
Financial instruments and financial risk management  
Financial instruments and financial risk management

17.Financial instruments and financial risk management

Additional disclosures on financial instruments

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

Financial instruments as of June 30, 2025 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year ended June 30, 2025

​

  ​ ​ ​

​

  ​ ​ ​

Categories

  ​ ​ ​

Category in

  ​ ​ ​

​

  ​ ​ ​

Fair value

​

​

Carrying

​

outside of

​

accordance

​

Fair 

​

hierarchy

(in € thousands)

​

amount

​

IFRS 9

​

with IFRS 9

​

value

​

level

Financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current deposits

​

5,186

​

—

​

Amortized cost

​

—

​

—

Current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Trade and other receivables

 

96,676

 

—

 

Amortized cost

 

—

 

—

Cash and cash equivalents

 

603,593

 

—

 

Amortized cost

 

—

 

—

Other assets

 

134,766

 

92,880

 

​

 

  ​

 

  ​

thereof deposits

 

28

 

—

 

Amortized cost

 

—

 

—

thereof other financial assets

 

41,858

 

—

 

Amortized cost

 

—

 

—

Financial liabilities

 

​

​

​

​

​

​

​

​

​

Non-current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Lease liabilities

 

176,718

​

176,718

​

N/A

 

—

 

—

Other liabilities

 

364

 

364

 

N/A

 

—

 

—

Current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Liabilities to banks

 

10,000

 

—

 

Amortized cost

 

—

 

—

Tax liabilities

​

2,764

​

2,764

​

N/A

​

​

​

​

Lease liabilities

 

32,085

​

32,085

​

N/A

​

—

 

—

Trade and other payables

 

285,722

​

—

​

Amortized cost

 

—

 

—

Other liabilities

 

346,835

​

263,757

 

​

 

  ​

 

  ​

thereof other financial liabilities

 

83,078

​

—

​

Amortized cost

 

—

 

—

​

Financial instruments as of December 31, 2025 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

  ​ ​ ​

​

  ​ ​ ​

Categories

  ​ ​ ​

Category in

  ​ ​ ​

​

  ​ ​ ​

Fair value

​

​

Carrying

​

outside of

​

accordance

​

Fair

​

hierarchy

(in € thousands)

​

amount

​

IFRS 9

​

with IFRS 9

​

value

​

level

Financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current financial assets

​

​

​

​

​

​

​

​

​

​

Non-current deposits

​

5,057

​

—

​

Amortized cost

​

—

​

—

Other non-current financial assets

​

141,204

​

—

​

Amortized cost

​

—

​

—

Current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Trade and other receivables

 

36,406

 

—

 

Amortized cost

 

—

 

—

Cash and cash equivalents

 

418,601

 

—

 

Amortized cost

 

—

 

—

Other assets

 

168,870

 

90,974

 

​

 

​

​

​

thereof deposits

 

73

 

—

 

Amortized cost

 

—

 

—

thereof Derivatives (Hedge Accounting)

​

1,339

​

—

​

N/A

​

1,339

​

Level 2

thereof other financial assets

 

76,484

 

—

 

Amortized cost

 

—

 

—

Financial liabilities

 

​

​

​

​

​

​

​

​

​

Non-current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Lease liabilities

 

149,321

​

149,321

​

N/A

 

—

 

—

Other liabilities

 

291

 

291

 

N/A

 

—

 

—

Current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Liabilities to banks

 

10,000

 

—

 

Amortized cost

 

—

 

—

Tax liabilities

​

2,856

​

2,856

​

N/A

​

​

​

​

Lease liabilities

 

30,337

​

30,337

​

N/A

​

—

 

—

Trade and other payables

 

234,960

​

—

​

Amortized cost

 

—

 

—

Other liabilities

 

447,751

​

363,636

 

​

 

  ​

 

  ​

thereof Derivatives (Hedge Accounting)

​

6,181

​

—

​

N/A

​

6,181

​

Level 2

thereof other financial liabilities

 

77,934

​

—

​

Amortized cost

 

—

 

—

Lease liabilities associated with assets held for sale

​

15,019

​

15,019

​

N/A

​

—

​

—

​

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

There were no transfers between the different levels of the fair value hierarchy as of June 30, 2025 and December 31, 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. As LuxExperience Group does not meet the criteria for offsetting, thus no financial instruments are netted.

As of December 31, 2025, LuxExperience Group has recorded negative €3,490 thousand net in cash flow hedge reserve. Had hedge accounting not been applied, the amount would have been recorded in profit or loss immediately. The remaining portion of other comprehensive income is related to translation differences of balance sheet items denominated in foreign currencies in prior periods. For more details, please refer to LuxExperience Group’s annual consolidated financial statements for the fiscal year ended June 30, 2025.
v3.25.4
Related party transactions
 6 Months Ended
Dec. 31, 2025
Related party transactions  
Related party transactions

18.Related party transactions

As of December 31, 2025, LuxExperience Group had a receivable against MYT Ultimate Parent LLC, USA in an amount of €0.2 million. Further, LuxExperience Group had liabilities to MYT Ultimate Parent LLC, USA in an amount of €0.8 million. These balances resulted from various intercompany charges incurred before July 2020.

As of December 31, 2025, LuxExperience Group had receivables against Richemont Group totaling €1,810 thousand as well as unsecured liabilities to Richemont Group amounting to €8,396 thousand. These balances resulted mainly from purchase and sale transactions with Richemont Group brands. During the six months ended December 31, 2025, LuxExperience Group purchased inventory of €47,206 thousand from Richemont Group brands and generated income of €2,549 thousand, mainly from management and information technology services. During the six months ended December 31, 2025, the Group returned goods to Richemont brands amounting to €31,627 thousand as part of the wind-down of the OFS business.

​
v3.25.4
Revision of Weighted Average Ordinary Shares and Earnings per Share Information
 6 Months Ended
Dec. 31, 2025
Revision of Weighted Average Ordinary Shares and Earnings per Share Information  
Revision of Weighted Average Ordinary Shares and Earnings per Share Information

19.Revision of Weighted Average Ordinary Shares and Earnings per Share Information

Subsequent to the reporting of its interim condensed consolidated financial statements for the three and six months ended December 31, 2025, the LuxExperience Group determined that it had incorrectly computed the weighted average number of ordinary shares outstanding used as denominator in calculating its basic and diluted earnings per share for the current periods presented. The effects of the revision are presented below.

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2025

​

​

As previously

​

​

​

  ​ ​ ​

disclosed

  ​ ​ ​

As revised

Weighted-average ordinary shares – basic and diluted (millions)

​

87.2

​

140.1

Basic and diluted earnings per share, € - continuing operations

 

(0.15)

 

(0.09)

Basic and diluted earnings per share, € - discontinued operations

 

0.06

 

0.04

Basic and diluted earnings per share, € - total

 

(0.09)

 

(0.05)

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

​

As previously

​

​

​

  ​ ​ ​

disclosed

  ​ ​ ​

As revised

Weighted-average ordinary shares – basic and diluted (millions)

​

87.2

​

139.9

Basic and diluted earnings per share, € - continuing operations

​

(1.14)

​

(0.71)

Basic and diluted earnings per share, € - discontinued operations

 

(0.07)

 

(0.05)

Basic and diluted earnings per share, € - total

 

(1.21)

 

(0.76)

​
v3.25.4
Events after the reporting period
 6 Months Ended
Dec. 31, 2025
Events after the reporting period  
Events after the reporting period

20.Events after the reporting period

Management has determined that there were no subsequent events requiring recognition or disclosure.
v3.25.4
Segment information (Tables)
 6 Months Ended
Dec. 31, 2025
Segment information  
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 the two retail stores to the newly combined operating segment Luxury | Mytheresa for the three and six months ended December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2024 (restated) (3)

​

​

​

​

Retail 

​

Corporate

​

Luxury

​

​

​

IFRS 

(in € thousands) (unaudited)

  ​ ​ ​

Online

  ​ ​ ​

Stores

  ​ ​ ​

Costs (1) (3)

  ​ ​ ​

Mytheresa

  ​ ​ ​

Adjustment (2)

  ​ ​ ​

consolidated

Net Sales

 

218,911

 

4,074

​

—

​

222,985

​

—

 

222,985

Segment EBITDA

 

20,450

 

1,387

​

(5,659)

​

16,178

​

(14,792)

 

1,386

Depreciation and amortization

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(3,929)

Finance income (costs), net

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(1,953)

Income tax expense

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(193)

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(4,689)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2024 (restated) (3)

​

​

​

​

Retail

​

Corporate

​

Luxury

​

​

​

IFRS

(in € thousands) (unaudited)

  ​ ​ ​

Online

  ​ ​ ​

Stores

  ​ ​ ​

Costs (1) (3)

  ​ ​ ​

Mytheresa

  ​ ​ ​

Adjustment (2)

  ​ ​ ​

consolidated

Net Sales

 

416,927

 

7,759

 

—

​

424,686

​

—

 

424,685

Segment EBITDA

 

25,800

 

2,461

 

(9,159)

​

19,102

​

(40,625)

 

(21,523)

Depreciation and amortization

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(11,057)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

​

(3,174)

Income tax expense

​

​

​

​

​

​

​

​

​

​

​

7,542

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(28,211)

(1)During the three and six months ended December 31, 2024, there were €5,659 thousand and €9,159 thousand in corporate administrative expenses that were not assigned to either the online operations or the retail stores.
(2)Additionally, during the three and six months ended December 31, 2024, there were €9,645 thousand and €30,983 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €5,147 thousand and €9,642 thousand during the respective periods.
(3)For the three and six months ended December 31, 2024, corporate costs were not allocated to any segment. Starting with the annual report for fiscal year 2025, and driven by the YNAP acquisition and the resulting changes in the Group structure, management now allocates corporate costs to the respective segments. The impact of this change for the three months and six months ended December 31, 2024 is presented in the “Corporate costs” column in the table above.

The following is a reconciliation of the Company’s segment EBITDA to consolidated net income from the operating segments Luxury | Mytheresa, Luxury NAP & MRP, Off-Price YOOX and Other for the three and six months ended December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2025

​

​

Luxury

​

Luxury NAP

​

Off-Price

​

​

​

​

​

​

(in € millions) (unaudited)

  ​ ​ ​

Mytheresa

  ​ ​ ​

& MRP

  ​ ​ ​

YOOX

  ​ ​ ​

Other (3)

  ​ ​ ​

Reconciliation(1)(2)(4)(5)

  ​ ​ ​

Consolidated

Net sales

 

242.7

​

277.1

​

125.3

​

1.8

​

—

​

646.9

Segment EBITDA

 

22.6

​

(1.9)

​

(7.5)

​

0.3

​

(11.5)

​

1.9

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

​

(12.3)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

​

(1.9)

Income tax expense

​

​

​

​

​

​

​

​

​

​

​

(0.3)

Net loss from continuing operations

​

​

​

​

​

​

​

​

​

​

​

(12.6)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

​

Luxury

​

Luxury NAP

​

Off-Price

​

​

​

​

​

​

(in € millions) (unaudited)

  ​ ​ ​

Mytheresa

  ​ ​ ​

& MRP

  ​ ​ ​

YOOX

  ​ ​ ​

Other (3)

  ​ ​ ​

Reconciliation(1)(2)(4)(5)

  ​ ​ ​

Consolidated

Net sales

 

469.1

 

489.3

 

243.9

​

21.0

​

(2.9)

 

1,220.4

Segment EBITDA

 

30.5

 

(12.2)

 

(26.6)

​

3.5

​

(64.7)

 

(69.5)

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(23.9)

Finance income (costs), net

​

​

​

​

​

​

​

​

​

​

 

(3.0)

Income tax expense

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(2.9)

Net loss from continuing operations

​

​

 

  ​

 

  ​

​

 

​

  ​

 

(99.2)

(1)Other transaction-related, certain legal and other expenses include professional fees (including advisory and accounting fees) related to potential transactions, as well as certain legal and other expenses incurred outside the ordinary course of business. For the three and six months ended December 31, 2025, expenses of €11,765 thousand and €53,739 thousand, respectively, were incurred and are reflected in the reconciliation column. These amounts have been excluded from Segment EBITDA and primarily impact Shipping and payment costs, Selling, general and administrative expenses, and Other income (expense), net.
(2)Certain members of management and supervisory board members have been granted share-based compensation for which the related expense is recognized over the applicable vesting periods. Management adjusts Segment EBITDA to exclude share-based compensation expense, as it is not considered indicative of the Group’s underlying operating performance. For the three and six months ended December 31, 2025, share-based compensation expense amounted to €3,531 thousand and €7,004 thousand, respectively, and is reflected in the reconciliation column, primarily within Selling, general and administrative expenses.
(3)Represents Online Flagship Stores (“OFS”) and Feng-Mao (“FM”) businesses being wound down.
(4)During the three and six months ended December 31, 2025, intercompany sales of €0 and €2,858 thousand, respectively, were included in Net sales, with corresponding amounts included in Cost of sales, exclusive of depreciation and amortization. As these intercompany transactions are eliminated on consolidation, the related amounts are reflected in the reconciliation column.
(5)Includes foreign exchange gains and losses arising on intercompany cash pooling positions, recorded in Other income (expense), net. These amounts are excluded from Segment EBITDA, as they reflect increased foreign exchange volatility on intra-group cash balances. The adjustment represents a foreign exchange gain of €3,795 thousand for the three months ended December 31, 2025 and a foreign exchange loss of €3,914 thousand for the six months ended December 31, 2025.
v3.25.4
Net Sales and geographic information (Tables)
 6 Months Ended
Dec. 31, 2025
Net Sales and geographic information  
Schedule of net sales by geographic location

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended December 31,

 

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Germany

​

31,686

  ​ ​ ​

14.2

%  

55,222

  ​ ​ ​

8.5

%

United States

 

45,979

 

20.6

%  

213,571

 

33.0

%

United Kingdom

​

17,415

​

7.8

%  

70,291

​

10.9

%  

Europe (excluding Germany and the United Kingdom) (1)

 

74,321

 

33.3

%  

182,714

 

28.2

%

Rest of the world

 

53,583

 

24.0

%  

125,122

 

19.3

%

​

 

222,985

​

100.0

%  

646,920

 

100.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

For the six months ended December 31,

 

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Germany

 

59,238

  ​ ​ ​

13.9

%  

103,839

  ​ ​ ​

8.5

%

United States

 

87,025

 

20.5

%  

393,916

 

32.3

%

United Kingdom

​

33,329

​

7.8

%

137,382

​

11.3

%

Europe (excluding Germany and the United Kingdom) (1)

 

145,501

 

34.3

%  

350,863

 

28.7

%

Rest of the world

 

99,591

 

23.5

%  

234,421

 

19.2

%

​

 

424,685

 

100.0

%  

1,220,421

 

100.0

%

(1)

No individual country other than the United States and United Kingdom accounted for more than 10% of net sales during the three and six months ended December 31, 2025.
v3.25.4
Discontinued Operations (Tables)
 6 Months Ended
Dec. 31, 2025
Discontinued Operations  
Schedule of assets and liabilities classified as held for sale

​

​

​

​

​

  ​ ​ ​

As of 

(in € thousands)

​

December 31, 2025

Right of use assets

​

15,413

Lease liabilities – long term

 

(12,155)

Lease liabilities – short term

 

(2,864)

Inventory

 

24,866

Right of return assets

 

4,125

Property, plant and equipment

 

—

Intangible assets

 

—

​

 

29,386
Schedule of components of the loss from discontinued operations

​

​

​

​

​

​

Three Months Ended

(in € thousands)

  ​ ​ ​

December 31, 2025

Net sales

 

57,291

Cost of sales, exclusive of depreciation and amortization

 

(30,102)

Gross profit

 

27,189

Shipping and payment cost

 

(10,021)

Marketing expenses

 

(2,446)

Selling, general and administrative expenses

 

(9,279)

Depreciation and amortization

 

—

Other income (loss), net

 

—

Operating income

 

5,443

Finance income (costs), net

 

(235)

Net income before income taxes

 

5,208

Income tax (expense) benefit

 

—

Net income from discontinued operations

 

5,208

​

​

​

​

​

​

Six Months Ended

(in € thousands)

  ​ ​ ​

December 31, 2025

Net sales

​

98,270

Cost of sales, exclusive of depreciation and amortization

​

(58,482)

Gross profit

 

39,788

Shipping and payment cost

 

(17,117)

Marketing expenses

 

(4,554)

Selling, general and administrative expenses

 

(23,497)

Depreciation and amortization

 

(830)

Other income (loss), net

 

—

Operating loss

 

(6,209)

Finance income (costs), net

 

(488)

Loss before income taxes

 

(6,697)

Income tax (expense) benefit

 

—

Net loss from discontinued operations

 

(6,697)
Schedule of cash flow information of the discontinued operation

​

​

​

​

​

  ​ ​ ​

Six Months Ended

(in € thousands)

​

December 31, 2025

Consolidated Statement of Cash Flow Data:

 

  ​

Net cash outflow from operating activities

 

(11,063)

Net cash outflow from investing activities

 

—

Net cash change from financing activities

 

(2,322)

​
v3.25.4
Cost of sales, exclusive of depreciation and amortization (Tables)
 6 Months Ended
Dec. 31, 2025
Cost of sales, exclusive of depreciation and amortization.  
Schedule of inventory write-downs

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months Ended December 31,

  ​ ​ ​

Six Months Ended December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

Inventory write-downs

 

(1,751)

 

(4,062)

 

(5,335)

 

(7,252)
v3.25.4
Finance income (costs), net (Tables)
 6 Months Ended
Dec. 31, 2025
Finance income (costs), net  
Schedule of finance expense, net

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended December 31,

​

Six Months Ended December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

2025

Interest expenses on revolving credit facilities

 

(1,277)

 

(769)

 

(1,820)

​

(1,266)

Interest expenses on leases

 

(675)

 

(2,515)

 

(1,354)

​

(5,075)

Total finance costs

 

(1,953)

 

(3,284)

 

(3,174)

​

(6,341)

​

​

​

​

​

​

​

​

​

Other interest income

​

—

​

1,417

​

—

​

3,369

Total finance income

 

—

 

1,417

 

—

​

3,369

Finance costs, net

 

(1,953)

 

(1,867)

 

(3,174)

​

(2,972)
v3.25.4
Income taxes (Tables)
 6 Months Ended
Dec. 31, 2025
Income taxes  
Schedule of income tax expense

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months Ended December 31,

  ​ ​ ​

Six Months Ended December 31,

 

(in %)

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Effective tax rate

 

(4.3)

%  

(2.81)

%  

21.1

%  

(3.04)

%
v3.25.4
Other assets (Tables)
 6 Months Ended
Dec. 31, 2025
Other assets  
Schedule of other current assets and other non-current assets

​

​

​

​

​

​

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

December 31, 2025

Right of return assets

 

51,373

​

39,151

Current VAT receivables

​

3,223

​

1,438

Prepaid expenses

 

20,852

 

15,657

Receivables against payment service providers

​

9,033

​

11,583

Advanced payments

​

10,043

​

19,193

Current tax receivables

​

7,182

​

11,326

DDP duty drawbacks (1)

​

9,722

​

22,255

Other current assets (2)

​

23,337

​

44,142

​

 

134,766

​

164,745

(1)

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

(2)

Other current assets consist mostly of other short-term receivables and creditors with debit balances.

​

​

​

​

​

​

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

December 31, 2025

Other non-current receivables

​

1

​

—

Non-current deposits

​

5,186

​

15,057

Non-current deposits

​

5,186

​

5,057

Non-current restricted cash and cash equivalents (4)

​

—

​

10,000

Non-current prepaid expenses (3)

​

6,691

​

6,204

​

​

11,878

​

21,261

(3)

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

(4)

This amount relates to a €10.0 million deposit for a supplier cash guarantee.
v3.25.4
Share-based compensation (Tables)
 6 Months Ended
Dec. 31, 2025
Share-based compensation  
Summary of capital reserve related to stock options and restricted stock awards

​

​

​

​

​

​

​

​

Six Months Ended

​

​

December 31,

(in € thousands)

  ​ ​ ​

2024

  ​ ​ ​

2025

Classified within capital reserve (beginning of period)

 

175,591

 

188,031

Expense related to:

 

9,576

 

7,004

Share Options (Alignment Grant)

 

3,787

 

—

Share Options (LTI)

​

1,805

​

2,200

Restricted Share Units (Supervisory Board Members Plan)

​

181

​

210

Restricted Share Units (LTI)

 

3,803

 

4,594

Classified within capital reserve (end of period)

 

185,167

 

195,035
Alignment Award  
Share-based compensation  
Summary of number and weighted-average exercise prices of share options

​

​

​

​

​

​

​

​

Alignment Award

​

​

​

​

Wtd. Average

​

​

Options

​

Exercise Price (USD)

June 30, 2024

  ​ ​ ​

6,063,090

  ​ ​ ​

8.57

forfeited

 

(21,165)

 

11.58

granted

 

—

 

N/A

December 31, 2024

 

6,041,925

 

8.56

​

​

​

​

​

June 30, 2025

 

4,653,477

 

9.09

exercised

 

(35,634)

 

6.84

forfeited

 

—

 

N/A

granted

​

—

​

N/A

December 31, 2025

 

4,617,843

 

9.11
Supervisory Board Award (Restricted Shares)  
Share-based compensation  
Summary of main features of share-based compensation arrangement

​

​

​

​

​

​

Type of arrangement

  ​ ​ ​

Supervisory Board Members plan

Type of Award

​

Restricted Shares / Restricted Share Units

​

Restricted Shares / Restricted Share Units

Date of grant

​

November 12, 2024

  ​ ​ ​

December 17, 2025

Number granted

 

85,502

​

94,006

Vesting conditions

 

The restricted share units vested in full on November 12, 2025

​

The restricted share units will vest in full on December 17, 2026.
Long-Term Incentive Plan  
Share-based compensation  
Summary of main features of share-based compensation arrangement

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Key Management Members

Type of arrangement

  ​ ​ ​

Long-Term Incentive Plan

Type of Award

​

Time-vesting RSUs

Service commencement date

​

July 1, 2024

  ​ ​ ​

Oct. 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

September 1, 2025

  ​ ​ ​

October 1, 2025

Grant date

​

July 1, 2024

​

Oct. 1, 2024

​

July 1, 2025

​

September 1, 2025

​

October 1, 2025

Number granted

​

1,252,241

​

102,740

​

1,313,946

​

3,449

​

3,730

Vesting conditions

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

Vested in full on July 1, 2025.

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

Will vest in full on July 1, 2026.

​

Graded vesting of 1/3 of the time vesting RSUs over the next three years.

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Key Management Members 

Type of arrangement

​

Long-Term Incentive Plan

Type of Award

 

Stock options

Service commencement date

​

July 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

July 1, 2025

Grant date

​

July 1, 2024

​

July 1, 2025

​

October 1, 2025

Number granted

​

3,277,477

​

2,087,724

​

6,465

Vesting conditions

​

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

​

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

​

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

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Key Management Members 

Type of arrangement

​

Long-Term Incentive Plan

Type of Award

 

Non-market performance RSUs

Service commencement date

​

July 1, 2024

  ​ ​ ​

July 1, 2025

  ​ ​ ​

July 1, 2025

Grant date

​

July 1, 2024

​

July 1, 2025

​

October 1, 2025

Number granted

​

1,043,193

​

1,106,332

​

3,178

Vesting conditions

​

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

​

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

​

3 year’s services from service commencement date and achievement of a certain level of cumulative GMV growth and adjusted EBITDA margin.
Summary of inputs used in the measurement of the fair values at grant date of the equity-settled share-based payment plans

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Grant date

  ​ ​ ​

Grant date

 

Grant date

 

Black Scholes Model - Weighted Average Values

​

July 1, 2024

​

July 1, 2025

  ​ ​ ​

October 1, 2025

 

Weighted average fair value

​

$

1.82

​

$

2.82

​

$

2.84

​

Exercise price

​

$

5.07

​

$

7.89

​

$

7.97

​

Weighted average share price

​

$

5.07

​

$

7.89

​

$

7.97

​

Expected volatility

​

 

64.47

%  

 

65.43

%  

 

64.69

%

Expected life

​

 

1.97

years

 

1.97

years

 

1.97

years

Risk free rate

​

 

2.88

%  

 

1.82

%  

 

1.97

%

Expected dividends

​

 

—

​

 

—

​

 

—

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

​

​

​

​

​

​

​

​

Share Options under the Long-Term

​

​

Incentive Plan

​

​

​

​

Wtd. Average

​

​

Options

​

Exercise Price (USD)

June 30, 2024

  ​ ​ ​

3,309,066

  ​ ​ ​

4.00

forfeited

 

(6,508)

 

4.00

granted

​

3,277,477

​

5.07

December 31, 2024

​

6,580,035

​

4.53

​

​

​

​

​

June 30, 2025

​

6,378,249

​

4.55

exercised

​

(833,284)

​

4.08

forfeited

​

(56,280)

​

7.52

granted

 

2,094,189

 

7.88

December 31, 2025

 

7,582,874

 

5.49
v3.25.4
Other current liabilities (Tables)
 6 Months Ended
Dec. 31, 2025
Other current liabilities  
Schedule of other liabilities

​

​

​

​

​

​

​

​

​

​

December 

(in € thousands)

  ​ ​ ​

June 30, 2025

  ​ ​ ​

31, 2025

Personnel-related liabilities (1)

​

34,272

​

56,804

Customer returns

 

83,078

 

77,934

Liabilities from sales tax

 

35,758

 

34,612

Accrued expenses & other liabilities

 

193,727

 

278,401

Total

 

346,835

 

447,751

(1)

Personnel-related liabilities include amounts related to the transformation plan described below.
v3.25.4
Financial instruments and financial risk management (Tables)
 6 Months Ended
Dec. 31, 2025
Financial instruments and financial risk management  
Summary of financial instruments

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year ended June 30, 2025

​

  ​ ​ ​

​

  ​ ​ ​

Categories

  ​ ​ ​

Category in

  ​ ​ ​

​

  ​ ​ ​

Fair value

​

​

Carrying

​

outside of

​

accordance

​

Fair 

​

hierarchy

(in € thousands)

​

amount

​

IFRS 9

​

with IFRS 9

​

value

​

level

Financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current deposits

​

5,186

​

—

​

Amortized cost

​

—

​

—

Current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Trade and other receivables

 

96,676

 

—

 

Amortized cost

 

—

 

—

Cash and cash equivalents

 

603,593

 

—

 

Amortized cost

 

—

 

—

Other assets

 

134,766

 

92,880

 

​

 

  ​

 

  ​

thereof deposits

 

28

 

—

 

Amortized cost

 

—

 

—

thereof other financial assets

 

41,858

 

—

 

Amortized cost

 

—

 

—

Financial liabilities

 

​

​

​

​

​

​

​

​

​

Non-current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Lease liabilities

 

176,718

​

176,718

​

N/A

 

—

 

—

Other liabilities

 

364

 

364

 

N/A

 

—

 

—

Current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Liabilities to banks

 

10,000

 

—

 

Amortized cost

 

—

 

—

Tax liabilities

​

2,764

​

2,764

​

N/A

​

​

​

​

Lease liabilities

 

32,085

​

32,085

​

N/A

​

—

 

—

Trade and other payables

 

285,722

​

—

​

Amortized cost

 

—

 

—

Other liabilities

 

346,835

​

263,757

 

​

 

  ​

 

  ​

thereof other financial liabilities

 

83,078

​

—

​

Amortized cost

 

—

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

  ​ ​ ​

​

  ​ ​ ​

Categories

  ​ ​ ​

Category in

  ​ ​ ​

​

  ​ ​ ​

Fair value

​

​

Carrying

​

outside of

​

accordance

​

Fair

​

hierarchy

(in € thousands)

​

amount

​

IFRS 9

​

with IFRS 9

​

value

​

level

Financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Non-current financial assets

​

​

​

​

​

​

​

​

​

​

Non-current deposits

​

5,057

​

—

​

Amortized cost

​

—

​

—

Other non-current financial assets

​

141,204

​

—

​

Amortized cost

​

—

​

—

Current financial assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Trade and other receivables

 

36,406

 

—

 

Amortized cost

 

—

 

—

Cash and cash equivalents

 

418,601

 

—

 

Amortized cost

 

—

 

—

Other assets

 

168,870

 

90,974

 

​

 

​

​

​

thereof deposits

 

73

 

—

 

Amortized cost

 

—

 

—

thereof Derivatives (Hedge Accounting)

​

1,339

​

—

​

N/A

​

1,339

​

Level 2

thereof other financial assets

 

76,484

 

—

 

Amortized cost

 

—

 

—

Financial liabilities

 

​

​

​

​

​

​

​

​

​

Non-current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Lease liabilities

 

149,321

​

149,321

​

N/A

 

—

 

—

Other liabilities

 

291

 

291

 

N/A

 

—

 

—

Current financial liabilities

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Liabilities to banks

 

10,000

 

—

 

Amortized cost

 

—

 

—

Tax liabilities

​

2,856

​

2,856

​

N/A

​

​

​

​

Lease liabilities

 

30,337

​

30,337

​

N/A

​

—

 

—

Trade and other payables

 

234,960

​

—

​

Amortized cost

 

—

 

—

Other liabilities

 

447,751

​

363,636

 

​

 

  ​

 

  ​

thereof Derivatives (Hedge Accounting)

​

6,181

​

—

​

N/A

​

6,181

​

Level 2

thereof other financial liabilities

 

77,934

​

—

​

Amortized cost

 

—

 

—

Lease liabilities associated with assets held for sale

​

15,019

​

15,019

​

N/A

​

—

​

—
v3.25.4
Revision of Weighted Average Ordinary Shares and Earnings per Share Information (Tables)
 6 Months Ended
Dec. 31, 2025
Revision of Weighted Average Ordinary Shares and Earnings per Share Information  
Schedule of adjustments relating to correction of errors

​

​

​

​

​

​

​

  ​ ​ ​

Three months ended December 31, 2025

​

​

As previously

​

​

​

  ​ ​ ​

disclosed

  ​ ​ ​

As revised

Weighted-average ordinary shares – basic and diluted (millions)

​

87.2

​

140.1

Basic and diluted earnings per share, € - continuing operations

 

(0.15)

 

(0.09)

Basic and diluted earnings per share, € - discontinued operations

 

0.06

 

0.04

Basic and diluted earnings per share, € - total

 

(0.09)

 

(0.05)

​

​

​

​

​

​

​

  ​ ​ ​

Six months ended December 31, 2025

​

​

As previously

​

​

​

  ​ ​ ​

disclosed

  ​ ​ ​

As revised

Weighted-average ordinary shares – basic and diluted (millions)

​

87.2

​

139.9

Basic and diluted earnings per share, € - continuing operations

​

(1.14)

​

(0.71)

Basic and diluted earnings per share, € - discontinued operations

 

(0.07)

 

(0.05)

Basic and diluted earnings per share, € - total

 

(1.21)

 

(0.76)

​
v3.25.4
Corporate information (Details)
Dec. 31, 2025
Apr. 23, 2025
YOOX Net-a-Porter Group S.p.A (YNAP)    
Disclosure of transactions between related parties    
Percentage of voting equity interests acquired   100.00%
MYT Holding LLC    
Disclosure of transactions between related parties    
Shares held by company 47.60%  
Richemont italia Holding S.P.A    
Disclosure of transactions between related parties    
Shares held by company 35.70%  
v3.25.4
Business Combinations (Details) - Apr. 23, 2025 - YOOX Net-a-Porter Group S.p.A (YNAP)
€ / shares in Units, € in Millions
EUR (€)
shares
€ / shares
$ / shares
Business Combinations    
Percentage of voting interests acquired 100.00%  
Consideration transferred € 330.2  
Consideration transferred fair value € 345.6  
Number of shares issued | shares 49,741,342  
Share price used to calculate value of shares transferred as consideration in business combination | (per share) € 6.95 $ 7.93
Shortfall on net financial position € 15.3  
Bargain purchase gain € 623.5  
v3.25.4
Segment information (Details)
€ in Thousands
 3 Months Ended 6 Months Ended 8 Months Ended 10 Months Ended
Dec. 31, 2025
EUR (€)
item
Dec. 31, 2024
EUR (€)
Dec. 31, 2025
EUR (€)
store
item
Dec. 31, 2024
EUR (€)
Dec. 31, 2025
segment
item
Apr. 22, 2025
segment
Segment information            
Number of operating segments | segment         3 2
Number of major brands included in portfolio | item 5   5   5  
Number of retail stores | store     2      
Net sales € 646,920 € 222,985 € 1,220,421 € 424,685    
Segment EBITDA 1,900 1,386 (69,500) (21,523)    
Depreciation and amortization (12,348) (3,929) (23,857) (11,057)    
Finance income (costs), net (1,867) (1,953) (2,972) (3,174)    
Income tax expense (358) (193) (2,927) 7,542    
Net loss from continuing operations (12,644) (4,689) (99,238) (28,211)    
Luxury Mytheresa Segment            
Segment information            
Net sales   222,985   424,686    
Segment EBITDA   16,178   19,102    
Operating segments | Luxury Mytheresa Segment            
Segment information            
Net sales 242,700   469,100      
Segment EBITDA 22,600   30,500      
Operating segments | Online            
Segment information            
Net sales   218,911   416,927    
Segment EBITDA   20,450   25,800    
Operating segments | Retail Store            
Segment information            
Net sales   4,074   7,759    
Segment EBITDA   1,387   2,461    
Operating segments | Luxury NAP & MRP            
Segment information            
Net sales 277,100   489,300      
Segment EBITDA (1,900)   (12,200)      
Operating segments | Off Price            
Segment information            
Net sales 125,300   243,900      
Segment EBITDA (7,500)   (26,600)      
Operating segments | Other            
Segment information            
Net sales 1,800   21,000      
Segment EBITDA 300   3,500      
Reconciliation            
Segment information            
Net sales     (2,900)      
Segment EBITDA (11,500)   (64,700)      
Elimination of corporate costs and adjustments            
Segment information            
Segment EBITDA   (14,792)   (40,625)    
Other transaction-related, certain legal and other expenses 11,765 9,645 53,739 30,983    
IPO related Share-based compensation expenses   5,147   9,642    
Foreign exchange gains, net 3,795          
Foreign exchange losses, net     (3,914)      
Share-based payment 3,531   7,004      
Elimination of corporate costs and adjustments | Luxury Mytheresa Segment            
Segment information            
Segment EBITDA   (5,659)   (9,159)    
Corporate administrative expenses   € 5,659   € 9,159    
Elimination of intersegment amounts            
Segment information            
Net sales € 0   € (2,858)      
v3.25.4
Net Sales and geographic information (Details)
€ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
EUR (€)
Dec. 31, 2024
EUR (€)
Dec. 31, 2025
EUR (€)
customer
Dec. 31, 2024
EUR (€)
Net Sales and geographic information        
Net sales € 646,920 € 222,985 € 1,220,421 € 424,685
Percentage of net sales 100.00% 100.00% 100.00% 100.00%
Number of individual customers exceeding 10% of net sales | customer     0  
Decrease in net sales from application of hedge accounting € (158) € (939) € (225) € (752)
Germany        
Net Sales and geographic information        
Net sales € 55,222 € 31,686 € 103,839 € 59,238
Percentage of net sales 8.50% 14.20% 8.50% 13.90%
United States        
Net Sales and geographic information        
Net sales € 213,571 € 45,979 € 393,916 € 87,025
Percentage of net sales 33.00% 20.60% 32.30% 20.50%
United Kingdom        
Net Sales and geographic information        
Net sales € 70,291 € 17,415 € 137,382 € 33,329
Percentage of net sales 10.90% 7.80% 11.30% 7.80%
Europe (excluding Germany and the United Kingdom)        
Net Sales and geographic information        
Net sales € 182,714 € 74,321 € 350,863 € 145,501
Percentage of net sales 28.20% 33.30% 28.70% 34.30%
Rest of the world        
Net Sales and geographic information        
Net sales € 125,122 € 53,583 € 234,421 € 99,591
Percentage of net sales 19.30% 24.00% 19.20% 23.50%
v3.25.4
Discontinued Operations (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
EUR (€)
Dec. 31, 2024
EUR (€)
Dec. 31, 2025
EUR (€)
Dec. 31, 2024
EUR (€)
Oct. 31, 2025
EUR (€)
Jun. 30, 2025
EUR (€)
Classes of assets and liabilities            
Right of use assets € 169,729,000   € 169,729,000     € 201,131,000
Lease liabilities - long term (149,321,000)   (149,321,000)     (176,718,000)
Lease liabilities - short term (30,337,000)   (30,337,000)     (32,085,000)
Inventories 1,033,134,000   1,033,134,000     1,019,539,000
Right of return assets 39,151,000   39,151,000     51,373,000
Increased property and equipment 54,331,000   54,331,000     € 55,901,000
Cost of sales, exclusive of depreciation and amortization 338,345,000 € 109,399,000 660,964,000 € 222,467,000    
Inventory write-downs 4,062,000 € 1,751,000 7,252,000 € 5,335,000    
THE OUTNET | Discontinued operations            
Discontinued Operations            
Cash consideration         € 26,100,000  
Closing foreign exchange rate         1.15  
Classes of assets and liabilities            
Right of use assets 15,413   15,413      
Lease liabilities - long term (12,155)   (12,155)      
Lease liabilities - short term (2,864)   (2,864)      
Inventories 24,866   24,866      
Right of return assets 4,125   4,125      
Total 29,386   29,386      
Cost of sales, exclusive of depreciation and amortization 30,102,000   58,482,000      
Inventory write-downs € 3,000   € 11,426,000      
v3.25.4
Discontinued Operations - Loss from discontinued operations (Details) - EUR (€)
€ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Discontinued Operations        
Net sales € 646,920 € 222,985 € 1,220,421 € 424,685
Cost of sales, exclusive of depreciation and amortization (338,345) (109,399) (660,964) (222,467)
Gross profit 308,575 113,585 559,457 202,219
Shipping and payment cost (101,848) (33,698) (187,186) (63,058)
Marketing expenses (61,805) (30,076) (111,805) (55,069)
Selling, general and administrative expenses (144,539) (48,726) (319,125) (104,739)
Depreciation and amortization (12,348) (3,929) (23,857) (11,057)
Other income (loss), net 1,547 302 (10,823) (876)
Operating loss (10,419) (2,543) (93,338) (32,580)
Finance income (costs), net (1,867) (1,953) (2,972) (3,174)
Loss before income taxes (12,286) € (4,496) (96,311) (35,753)
Net income from discontinued operations 5,208   (6,698)  
Net cash outflow from operating activities     (29,255) (32,607)
Net cash outflow from investing activities     (129,803) (1,708)
Net cash change from financing activities     (23,098) € 32,911
THE OUTNET | Discontinued operations        
Discontinued Operations        
Net sales 57,291   98,270  
Cost of sales, exclusive of depreciation and amortization (30,102)   (58,482)  
Gross profit 27,189   39,788  
Shipping and payment cost (10,021)   (17,117)  
Marketing expenses (2,446)   (4,554)  
Selling, general and administrative expenses (9,279)   (23,497)  
Depreciation and amortization     (830)  
Operating loss 5,443   (6,209)  
Finance income (costs), net (235)   (488)  
Loss before income taxes 5,208   (6,697)  
Net income from discontinued operations € 5,208   (6,697)  
Net cash outflow from operating activities     (11,063)  
Net cash change from financing activities     € (2,322)  
v3.25.4
Cost of sales, exclusive of depreciation and amortization (Details) - EUR (€)
€ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Cost of sales, exclusive of depreciation and amortization.        
Inventory write-downs € (4,062) € (1,751) € (7,252) € (5,335)
Specific inventory, carrying value € 408,000   € 408,000  
v3.25.4
Finance income (costs), net (Details) - EUR (€)
€ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Finance costs        
Total finance costs € (3,284) € (1,953) € (6,341) € (3,174)
Finance income        
Other interest income 1,417   3,369  
Total finance income 1,417   3,369  
Finance costs, net (1,867) (1,953) (2,972) (3,174)
Revolving credit facility        
Finance costs        
Interest expense (769) (1,277) (1,266) (1,820)
Leases        
Finance costs        
Interest expense € (2,515) € (675) € (5,075) € (1,354)
v3.25.4
Finance income (costs), net (Details) - Revolving credit facility
€ in Millions
Dec. 31, 2025
EUR (€)
Finance income (costs), net  
Notional amount € 100.0
Credit line utilized in the form of guarantees 9.4
Credit line utilized, including amounts for guarantees € 19.4
v3.25.4
Income taxes (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income taxes        
Effective tax rate (2.81%) (4.30%) (3.04%) 21.10%
v3.25.4
Other assets - Other current assets (Details) - EUR (€)
€ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other assets    
Right of return assets € 39,151 € 51,373
Current VAT receivables 1,438 3,223
Prepaid expenses 15,657 20,852
Receivables from payment service providers 11,583 9,033
Advance payments 19,193 10,043
Current tax receivables 11,326 7,182
DDP duty drawbacks 22,255 9,722
Other current assets 44,142 23,337
Total other current assets € 164,745 € 134,766
v3.25.4
Other assets - Other non-current assets (Details) - EUR (€)
€ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other assets    
Other non-current receivables   € 1
Non-current deposits € 15,057 5,186
Non-current deposits 5,057 5,186
Non-current restricted cash and cash equivalents 10,000  
Non-current prepaid expenses 6,204 6,691
Total other non-current assets 21,261 € 11,878
Supplier cash guarantee € 10,000  
v3.25.4
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
v3.25.4
Share-based compensation - Supervisory Board Members Plan (Details) - Supervisory Board Members Plan
Dec. 17, 2025
USD ($)
EquityInstruments
item
Nov. 12, 2024
USD ($)
EquityInstruments
item
Share-based compensation    
Number granted | EquityInstruments 94,006 85,502
Number of Supervisory Board Members that have been granted awards | item 5 5
Grant date fair value | $ $ 8.51 $ 6.14
v3.25.4
Share-based compensation - Long-Term Incentive Plan (Details)
 6 Months Ended
Oct. 01, 2025
USD ($)
EquityInstruments
Options
$ / shares
shares
Sep. 01, 2025
USD ($)
EquityInstruments
Jul. 01, 2025
USD ($)
EquityInstruments
Options
$ / shares
shares
Oct. 01, 2024
USD ($)
EquityInstruments
Jul. 01, 2024
USD ($)
Options
EquityInstruments
item
$ / shares
shares
Dec. 31, 2025
Options
Dec. 31, 2024
Options
Long-Term Incentive Plan              
Share-based compensation              
Number of units granted         2,295,434    
Grant date fair value | $ $ 8.5 $ 9.28 $ 7.94 $ 3.65 $ 5.07    
Exercise price | $ / shares $ 7.97   $ 7.89   $ 5.07    
Time-vesting RSUs              
Share-based compensation              
Number of units granted 3,730 3,449 1,313,946 102,740 1,252,241    
Percentage of awards vesting annually         33.33%    
Vesting period 3 years   3 years   3 years    
Non-Market Performance RSUs              
Share-based compensation              
Number of units granted 3,178   1,106,332   1,043,193    
Vesting period 3 years   3 years   3 years    
Duration of gross profit 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   3 years    
Granted | Options 6,465   2,087,724   3,277,477 2,094,189 3,277,477
Number of shares per option | shares 1   1   1    
Exercise price | $ / shares $ 7.97   $ 7.89   $ 5.07    
Vested options term 10 years   10 years   10 years    
Number of different tranches | item         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%    
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%    
v3.25.4
Share-based compensation - Employee Share Purchase Program (ESPP) (Details) - Employee share purchase program
May 29, 2023
Share-based compensation  
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
v3.25.4
Share-based compensation - Measurement of the fair values at grant date of the equity-settled share-based payment plans (Details) - Long-Term Incentive Plan
Oct. 01, 2025
USD ($)
Y
$ / shares
Jul. 01, 2025
USD ($)
Y
$ / shares
Jul. 01, 2024
USD ($)
Y
$ / shares
Share-based compensation      
Weighted average fair value | $ $ 2.84 $ 2.82 $ 1.82
Exercise price $ 7.97 $ 7.89 $ 5.07
Weighted average share price $ 7.97 $ 7.89 $ 5.07
Expected volatility 64.69% 65.43% 64.47%
Expected life | Y 1.97 1.97 1.97
Risk free rate 1.97% 1.82% 2.88%
v3.25.4
Share-based compensation - Share-based compensation expense recognized (Details) - EUR (€)
€ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-based compensation    
Classified within capital reserve (beginning of period) € 188,031 € 175,591
Share-based compensation expenses 7,004 9,576
Classified within capital reserve (end of period) 195,035 185,167
Share Options (Alignment Grant)    
Share-based compensation    
Share-based compensation expenses   3,787
Share Options (LTI)    
Share-based compensation    
Share-based compensation expenses 2,200 1,805
Supervisory Board Award (Restricted Shares)    
Share-based compensation    
Share-based compensation expenses 210 181
Restricted Share Units (LTI)    
Share-based compensation    
Share-based compensation expenses € 4,594 € 3,803
v3.25.4
Share-based compensation - Reconciliation of outstanding share options (Details)
€ in Thousands
 6 Months Ended
Oct. 01, 2025
Options
Jul. 01, 2025
Options
$ / shares
Jul. 01, 2024
Options
$ / shares
Jan. 20, 2021
Options
Dec. 31, 2025
EUR (€)
Options
Dec. 31, 2025
$ / shares
Dec. 31, 2024
Options
$ / shares
Weighted Average Exercise Price              
Proceeds from exercise of option awards | €         € 2,460    
Alignment Award              
Options              
Options outstanding at beginning of period | Options   4,653,477 6,063,090   4,653,477   6,063,090
exercised | Options         (35,634)    
forfeited | Options             (21,165)
Granted | Options       6,478,761      
Options outstanding at end of period | Options         4,617,843   6,041,925
Weighted Average Exercise Price              
Weighted average Exercise price of share options outstanding at beginning of period   $ 9.09 $ 8.57     $ 9.09 $ 8.57
Exercised (in dollars per share)           6.84  
Forfeited (in dollars per share)             11.58
Weighted average Exercise price of share options outstanding at end of period           9.11 $ 8.56
Average remaining contractual life         5 years 21 days    
Share Options (LTI)              
Options              
Options outstanding at beginning of period | Options   6,378,249 3,309,066   6,378,249   3,309,066
exercised | Options         (833,284)    
forfeited | Options         (56,280)   (6,508)
Granted | Options 6,465 2,087,724 3,277,477   2,094,189   3,277,477
Options outstanding at end of period | Options         7,582,874   6,580,035
Weighted Average Exercise Price              
Weighted average Exercise price of share options outstanding at beginning of period   $ 4.55 $ 4     4.55 $ 4
Exercised (in dollars per share)           4.08  
Forfeited (in dollars per share)           7.52 4
Granted (in dollars per share)           7.88 5.07
Weighted average Exercise price of share options outstanding at end of period           5.49 $ 4.53
Average remaining contractual life         8 years 5 months 19 days    
Minimum | Alignment Award              
Weighted Average Exercise Price              
Exercise prices for the share options outstanding           5.79  
Minimum | Share Options (LTI)              
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 | Share Options (LTI)              
Weighted Average Exercise Price              
Exercise prices for the share options outstanding           $ 7.89  
v3.25.4
Other current liabilities - Other Liabilities (Details) - EUR (€)
€ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other current liabilities    
Personnel-related liabilities € 56,804 € 34,272
Customer returns 77,934 83,078
Liabilities from sales tax 34,612 35,758
Accrued expenses & other liabilities 278,401 193,727
Total other current liabilities € 447,751 € 346,835
v3.25.4
Other current liabilities (Details)
€ in Millions
 4 Months Ended
Dec. 31, 2025
EUR (€)
Sep. 03, 2025
employee
Disclosure of detailed information about borrowings [line items]    
Other current liabilities € 22.4  
Expense of restructuring activities € 35.7  
Maximum    
Disclosure of detailed information about borrowings [line items]    
Number of employees | employee   700
v3.25.4
Investments measured at amortized cost (Details)
€ in Millions
 6 Months Ended
Dec. 31, 2025
EUR (€)
Guaranteed senior secured fixed rate note  
Disclosure of financial assets [line items]  
Financial assets at amortised cost € 50.0
Equity secured note  
Disclosure of financial assets [line items]  
Financial assets at amortised cost € 75.0
Financial asset, redemption notice period 95 days
v3.25.4
Financial instruments and financial risk management - Financial instruments summary (Details) - EUR (€)
€ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Financial instruments    
Lease liabilities associated with assets held for sale € 15,019  
Non-current deposits | Financial assets, at amortized cost    
Financial instruments    
Financial assets 5,057 € 5,186
Other non-current financial assets | Financial assets, at amortized cost    
Financial instruments    
Financial assets 141,204  
Trade and other receivables | Financial assets, at amortized cost    
Financial instruments    
Financial assets 36,406 96,676
Cash and cash equivalents | Financial assets, at amortized cost    
Financial instruments    
Financial assets 418,601 603,593
Deposits | Financial assets, at amortized cost    
Financial instruments    
Financial assets 73 28
Derivatives    
Financial instruments    
Financial assets 1,339  
Financial assets, at fair value 1,339  
Financial liabilities, at fair value 6,181  
Derivatives | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 6,181  
Other assets | Financial assets, at amortized cost    
Financial instruments    
Financial assets 168,870 134,766
Other assets | No category in accordance with IFRS 9    
Financial instruments    
Financial assets 90,974 92,880
Other financial assets | Financial assets, at amortized cost    
Financial instruments    
Financial assets 76,484 41,858
Non-current lease liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 149,321 176,718
Non-current lease liabilities | No category in accordance with IFRS 9    
Financial instruments    
Financial liabilities 149,321 176,718
Non-current other liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 291 364
Non-current other liabilities | No category in accordance with IFRS 9    
Financial instruments    
Financial liabilities 291 364
Liabilities to banks | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 10,000 10,000
Tax liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 2,856 2,764
Tax liabilities | No category in accordance with IFRS 9    
Financial instruments    
Financial liabilities 2,856 2,764
Current lease liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 30,337 32,085
Current lease liabilities | No category in accordance with IFRS 9    
Financial instruments    
Financial liabilities 30,337 32,085
Trade and other payables | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 234,960 285,722
Current other liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 447,751 346,835
Current other liabilities | No category in accordance with IFRS 9    
Financial instruments    
Financial liabilities 363,636 263,757
Other financial liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Financial liabilities 77,934 € 83,078
Lease liabilities | Financial liabilities, at amortized cost    
Financial instruments    
Lease liabilities associated with assets held for sale 15,019  
Lease liabilities | No category in accordance with IFRS 9    
Financial instruments    
Lease liabilities associated with assets held for sale € 15,019  
v3.25.4
Financial instruments and financial risk management (Details) - EUR (€)
€ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Financial instruments and financial risk management    
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period € 0 € 0
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period 0 0
Transfers into Level 3 of fair value hierarchy, assets 0 0
Transfers out of Level 3 of fair value hierarchy, assets 0 0
Transfers into Level 3 of fair value hierarchy, liabilities 0 0
Transfers out of Level 3 of fair value hierarchy, liabilities 0 0
Transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities held at end of reporting period 0 0
Transfers out of Level 2 into Level 1 of fair value hierarchy, liabilities held at end of reporting period 0 0
Financial liabilities netted against assets 0 0
Financial assets netted again liabilities 0 € 0
Reserve of cash flow hedges € (3,490)  
v3.25.4
Related party transactions (Details)
€ in Thousands
 6 Months Ended
Dec. 31, 2025
EUR (€)
MYT Ultimate Parent LLC  
Related party transactions  
Receivables € 200
Liabilities 800
Richemont Italia Holding S.p.A  
Related party transactions  
Receivables 1,810
Liabilities 8,396
Purchases returns of goods, related party transactions 31,627
Purchase of inventory 47,206
Management and information technology services € 2,549
v3.25.4
Revision of Weighted Average Ordinary Shares and Earnings per Share Information (Details) - € / shares
shares in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Correction of Errors        
Weighted average number of ordinary shares (basic) - in millions [1],[2] 140.1 87.2 139.9 87.2
Weighted average number of ordinary shares (diluted) - in millions 140.1 87.2 139.9 87.2
Basic earnings (loss) per share continuing operations (in euro per share) [2] € (0.09) € (0.05) € (0.71) € (0.32)
Diluted earnings (loss) per share continuing operations (in euro per share) (0.09) (0.05) (0.71) (0.32)
Basic earnings (loss) per share discontinued operations (in euro per share) [2] 0.04 0 (0.05) 0
Diluted earnings (loss) per share discontinued operations (in euro per share) 0.04 0 (0.05) 0
Basic earnings (loss) per ordinary share (in euro per share) [2] (0.05) (0.05) (0.76) (0.32)
Diluted earnings (loss) per ordinary share (in euro per share) € (0.05) € (0.05) € (0.76) € (0.32)
Previously stated        
Correction of Errors        
Weighted average number of ordinary shares (basic) - in millions 87.2   87.2  
Weighted average number of ordinary shares (diluted) - in millions 87.2   87.2  
Basic earnings (loss) per share continuing operations (in euro per share) € (0.15)   € (1.14)  
Diluted earnings (loss) per share continuing operations (in euro per share) (0.15)   (1.14)  
Basic earnings (loss) per share discontinued operations (in euro per share) 0.06   (0.07)  
Diluted earnings (loss) per share discontinued operations (in euro per share) 0.06   (0.07)  
Basic earnings (loss) per ordinary share (in euro per share) (0.09)   (1.21)  
Diluted earnings (loss) per ordinary share (in euro per share) € (0.09)   € (1.21)  
[1] In accordance with IAS 33, includes contingently issuable shares that are fully vested and can be converted at any time for no consideration. For further details, refer to note 14.
[2] The presented amounts for the three and six months ended December 31, 2025 have been revised in the interim condensed consolidated financial statements – refer to Note 19 for further details.