What: LuxExperience appoints Francis Belin as Mytheresa CEO, enabling Michael Kliger to focus on integrating and revitalising the group’s acquired YNAP brands.

Why it is important: This leadership change supports LuxExperience’s strategy to strengthen its core brands and accelerate the integration of recent acquisitions.

LuxExperience’s appointment of Francis Belin as CEO of Mytheresa marks a pivotal moment in the company’s strategic transformation, allowing outgoing CEO Michael Kliger to dedicate his efforts to the integration and turnaround of the recently acquired YNAP brands: Net-A-Porter, Mr Porter, and YOOX. This leadership transition is designed to leverage Mytheresa’s robust performance, which saw an 8% growth and $1.15 billion in gross merchandise value in fiscal 2025, to drive overall group growth. The company is also divesting The Outnet to streamline operations and focus resources on revitalising its core luxury and off-price segments. Despite Mytheresa’s profitability, the group faces ongoing challenges with negative adjusted EBITDA across its segments, prompting a renewed emphasis on operational efficiency, brand differentiation, and leadership renewal. The integration of the YNAP brands, each with distinct customer bases and brand portfolios, is a complex undertaking, but early signs of commercial turnaround and higher average order values suggest the strategy is beginning to yield results.

IADS Notes: As reported by WWD in December 2024, Mytheresa distinguished itself in luxury e-commerce through a strong cash position and a focus on premium positioning, setting the stage for its successful integration of YNAP brands. In May 2025, Vogue Business outlined CEO Michael Kliger’s transformation plan, emphasising operational efficiency and the creation of distinct shopping communities within the group. The strategic rebranding to LuxExperience, covered by WWD in January 2025, reflected the ambition to build a dominant multibrand digital luxury platform while maintaining clear brand differentiation. These efforts occurred amid sector-wide restructuring, as seen with LuisaViaRoma’s operational overhaul reported by WWD in July and August 2025, highlighting the industry’s shift toward agility and efficiency in response to ongoing market challenges.

LuxExperience propels strategic transformation with Mytheresa CEO transition