LuxExperience vs Tapestry

LuxExperience Reports Q4 FY26 and Full FY26 Results: Strong +7.6% Net Sales Growth ex-FX and Improved Adjusted EBITDA Profitability

LuxExperience announced Q4 FY26 and Full FY26 results with strong +7.6% Net Sales growth ex-FX and improved Adjusted EBITDA profitability, setting the stage for accelerated top- and bottom-line growth in FY27.

LuxExperience Boosts Revenue, Expects Faster Growth

LuxExperience, the parent company of Mytheresa, NET-A-PORTER, MR PORTER, and YOOX, reported a 7.6% constant-currency net sales increase in Q4 FY2026, with reported sales up 6.1% to €653.6 million. Adjusted EBITDA margin improved to 2.1%, marking the third consecutive quarter of profitability. Mytheresa led growth with a 10.2% constant-currency sales increase, while NET-A-PORTER and MR PORTER achieved an operational turnaround. YOOX reduced its adjusted EBITDA loss to €45.5 million for the full year. The company forecasts accelerated mid-to-high single-digit revenue growth for FY2027, with adjusted EBITDA margin between 2-3%, and authorized a share buyback of up to $50 million.

• LuxExperience Q4 net sales up 6.1% to €653.6 million (7.6% ex-FX).
• Adjusted EBITDA margin improved to 2.1% in Q4, third consecutive profitable quarter.
• Mytheresa Q4 net sales up 10.2% (ex-FX), US business grew 39.3%.

20-F Financial Filing Analysis for LuxExperience (2026-09-16)

LuxExperience B.V. (ehemals MYT Netherlands Parent B.V.) hat ihren Jahresbericht auf Form 20-F für das zum 30. Juni 2026 beendete Geschäftsjahr eingereicht. Der Bericht dokumentiert die umfassende Integration der von Richemont im April 2025 übernommenen YOOX NET-A-PORTER GROUP S.p.A. (YNAP) sowie den im April 2026 vollzogenen Verkauf von THE OUTNET. Die Gruppe gliedert ihre operative Struktur nun in Luxury | Mytheresa, Luxury | NAP & MRP und Off-Price | YOOX. Besondere Schwerpunkte bilden operative Integrations- und Synergierisiken, Logistiknetz-Konsolidierungen, der Wegfall von Third-Party-Cookies, regulatorische Anforderungen durch den EU AI Act sowie makroökonomische Belastungen der Luxusgüternachfrage.

• Zum 30. Juni 2026 wies LuxExperience B.V. 139.699.831 ausstehende Stammaktien mit einem Nennwert von 0,000015 € je Aktie auf.
• Die Konzernstruktur umfasst nach der YNAP-Übernahme und dem im April 2026 abgeschlossenen Verkauf von THE OUTNET drei operative Segmente: Luxury | Mytheresa, Luxury | NAP & MRP und Off-Price | YOOX.
• Die Kundenkonzentration im Segment Luxury | Mytheresa blieb hoch: Die oberen 4,8 % der Kunden machten im Geschäftsjahr 2026 rund 48,4 % des Gross Merchandise Value (GMV) aus.

Luxury retailers lean on outlets for growth

Luxury retailers including Tapestry-owned Coach and Ralph Lauren are investing in and elevating outlet stores to attract aspirational, value-conscious shoppers as demand for luxury softens. Consulting firm Bain reports the luxury market lost about 70 million customers since 2022, and a luxury-focused fund (USLUX) is down about 7% year to date per FactSet. Analysts from Citi, Bernstein and Wells Fargo say upgrading outlet assortments and mixing made-for-factory items with select full-price goods can broaden customer bases and support sales and share-price upside for companies such as Ralph Lauren, Tapestry and Capri Holdings (Michael Kors). Analysts cite rising full-price focus, improved outlet product quality, and easier customer acquisition via elevated outlet experiences.

• Companies such as Tapestry-owned Coach and Ralph Lauren have elevated their discount stores into higher-end destinations for aspirational shoppers.
• Bain reported the luxury market shed roughly 70 million customers since 2022, falling to about 330 million by the end of 2025.
• The U.S. Global Investors Funds Global Luxury Goods Fund (USLUX), which includes companies like LVMH, Ferrari, Hermes and Christian Dior, is down about 7% year to date, per FactSet.

The Power of Pride

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Tapestry appoints Matt Madrigal to Board of Directors

Matt Madrigal was elected to our Board of directors in April 2026. Mr. Madrigal joined Pinterest as Chief Technology Officer in 2024 and is currently Chief Product and Technology Officer. He leads the company’s product and platform direction, overseeing product and engineering teams.