What: LuxExperience posted a 7.6% rise in fourth-quarter net sales (excluding currency), driven by Mytheresa's strategy of focusing on ultra-wealthy shoppers.

Why it is important: The results show that in a polarized luxury market, catering deliberately to top spenders — rather than chasing volume — can be a viable growth strategy even amid a broader sector downturn.

LuxExperience, the owner of Mytheresa, posted rising sales as its strategy of catering to the ultra wealthy helped it navigate a tough environment for high-end fashion. Net sales at LuxExperience B.V. rose 7.6% excluding currency changes in its fiscal fourth quarter, led by Mytheresa, the group's profit engine. Adjusted EBITDA margin is set to rise 2-3% in the current year from 2.1% in the three months ended June.

CEO Michael Kliger said the company is "bucking the trend" by adjusting marketing efforts to where growth is occurring, an advantage he attributes to having no physical store network. The US was a bright spot, with Mytheresa growing 39% there last quarter, even as demand weakened in China. Mytheresa's average basket stands around €875, and its 100,000 most important customers shop every 28 days at even higher spend levels. The company hosts exclusive brand events in locations like Lake Como and Porto Cervo for its top clients, reinforcing its "big spenders, not aspirational buyers" positioning.

IADS Notes: LuxExperience's fourth-quarter results, driven by Mytheresa's focus on ultra-wealthy spenders, sit within a broader pattern of demand splitting between the top and bottom of the luxury market. Coverage from WWD in April 2026 described this polarization taking hold in China, where only brands with sharp positioning and genuine local relevance are still growing while aspirational buyers retreat, and BoF the following month quantified the global scale of that retreat, noting the sector has lost 50 million customers since 2022 as spending concentrates among the wealthiest 2%. Against this backdrop, the restructuring wave among multibrand platforms — examined by BoF in December 2025, which named Mytheresa itself as a competitive benchmark for curation and service over discounting — helps explain why LuxExperience's VIC-focused model has proven resilient where discount-driven peers have struggled. That same appetite for expansion carries risk, as the Financial Times reported in April 2026, when Mytheresa's push into the Middle East ran headlong into a conflict-driven downturn that halved regional luxury sales — a reminder that even a strategy built around resilient top-tier demand remains exposed to external shocks.

Mytheresa owner sales rise as ultra wealthy help luxury platform