Mytheresa saw profitable growth during its fourth quarter amid its Yoox-Net-a-Porter (YNAP) turnaround.
The luxury fashion retailer’s net revenues rose 12% year over year to £218m for its last quarter ended in June.
Gross merchandise volume, or sales carried out through the brand’s platforms, from its highest spenders, rose 16% over the period.
The results come as Mytheresa is set to carry out a turnaround of YNAP, which it snapped up in April.
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Net-a-Porter and Mr Porter saw revenues drop 9% to £223m over the period.
According to LuxExperience CEO Michael Kliger, the sales decline came amid a “lack of marketing spend in the past, as well as too little investments into the buying of attractive new merchandise”.
Yoox and The Outnet also experienced a 17% sales drop to £139m over the period.
Mytheresa CEO Michael Kliger said: “LuxExperience is in the best place to become the best destination for luxury enthusiasts around the world, bringing together in one place the most iconic brands in the digital world.”
Earlier this month, LuxExperience unveiled 700 job cuts at YNAP, as it consolidated positions during an integration of the businesses.
The layoffs could impact roughly 700 YNAP staff members throughout the UK, Italy and the US.
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