LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Investor Presentation (May 2025)
41 slides from LuxExperience B.V's investor presentation, May 15, 2025
Slide 1: Investor Presentation
Investor Presentation 15th May 2025
Slide 2: Legal Disclaimer
Legal Disclaimer Forward Looking Statements & Industry Information This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this presentati
Slide 3: Medium-term ambition: €4bn net sales and €300m EBITDA
The ambition for LuxExperience in the medium term is to reach €4bn net sales and deliver 300m EBITDA €4bn+ 7-9% €300m+ Net Sales Adj. EBITDA margin Adj. EBITDA 3
Slide 4: The ambition is based on four elements of the investment story
The ambition is based on four elements of the investment story Outstanding market opportunity Unique valuable assets in given resilience of luxury and high differentiated brands, global growth potential of online geographic reach, and a large, high-value customer base Bold transformation plan and hi
Slide 5: Market Opportunity
LuxExperience Market Opportunity
Slide 6: Online luxury is a high growth opportunity, expected to double by 2030
Online luxury is a high growth opportunity, with the market expected to double by 2030 Personal luxury fashion market1 CAGR €bn 2024-30 2x online market size 117 480 77 150 13% (66%) 363 40 (31%) 73 (34%) Online (20%) 330 2% 290 Offline (69%) (80%) 2024E Market growth 2030F 1. Includes apparel, foot
Slide 7: Curated multi-brand has a superior proposition for high-value customers
Within online, curated multi-brand has a superior proposition for high-spending, high value customers Comparison of online multi-brand channels CURATED MULTI-BRAND MARKETPLACE Inspirational, curated offering MONO-BRAND that attracts high-end Extensive assortments that occasion-driven luxury shoppers
Slide 8: LuxExperience is the pre-eminent multi-brand group in online luxury
LuxExperience is the pre-eminent multi-brand group in online luxury with combined revenues of ~€3bn Estimated net online annual revenues of leading global luxury retailers1 €bn 3.0 3.0 2.6 2.2 1.4 0.9 0.8 0.7 0.5 0.4 0.4 0.4 0.2 0.2 0.2 0.2 0.1 0.1 2 3 4 4 4 1. Not exhaustive, data for latest availa
Slide 9: LuxExperience attracts the most global customers and sells the most expensive assortment
LuxExperience attracts the most global customers and sells the most expensive assortment among online luxury retailers INDICATIVE METRICS Web traffic by region Average listed retail price within apparel1 Europe North America APAC RoW € 764 751 100% 10% 13% 674 37% 45% 440 405 95% 97% 100% 100% 69% 2
Slide 10: Unique Valuable Assets
LuxExperience Unique Valuable Assets
Slide 11: Three segments home to the strongest stores in digital luxury
With its three segments, LuxExperience is home to the strongest stores in digital luxury Luxury | Mytheresa Luxury | NAP & MRP Off-Price 0.8mm 1.0mm 1.8mm €1.0bn €1.1bn €0.8bn active active active GMV1,2 GMV1,2 GMV1,2 customers1 customers1 customers1 1. Metrics as of the last twelve-months ending Ma
Slide 12: Mytheresa is the leading destination for wardrobe-building high-end customers
Mytheresa is the leading destination for wardrobe-building high-end customers Mytheresa | Luxury €1.0bn 80mm GMV1,2 Site Visits1 0.8mm €753 Active Customers1 Average Order Value (AOV)1 RoW 24% Geographic >41% of overall net revenues made up Split1,3 55% Europe by top customers who account for ~3.5%
Slide 13: NET-A-PORTER and MR PORTER possess exceptional brand equity
NET-A-PORTER and MR PORTER possess exceptional brand equity and an authoritative editorial voice NAP & MRP | Luxury €1.1bn 118mm GMV1,2 Site Visits1 1.0mm €768 Active Customers1 Average Order Value (AOV)1 MENA RoW APAC 5% 10% 1% >37% Europe 35% Geographic of overall net revenues made up Split1,3 by
Slide 14: Mytheresa and NAP & MRP have differentiated propositions
Mytheresa and NAP & MRP have differentiated propositions that cover the whole luxury spectrum Deep dive next Mytheresa | Luxury NAP & MRP | Luxury Brand ~300 brands1, focused on ~700 brands1, from elevated offering timeless, high-end luxury contemporary to luxury fashion Customer Strong focus on war
Slide 15: Luxury segments have differentiated brand offerings
The Luxury segments have differentiated brand offerings with ~280 NAP and ~270 MRP brands not carried by Mytheresa DATA FOR LTM ENDING DEC, 31 2023 Womenswear Menswear N = 260 N = 471 N = 118 N = 368 70 281 21 271 brands brands brands brands 190 97 35% overlapping 25% overlapping brands brands Note:
Slide 16: Customer base of Mytheresa and NAP & MRP is clearly differentiated
As a result, the customer base of Mytheresa and NAP & MRP is clearly differentiated – <10% of customers are overlapping DATA FOR LTM ENDING DEC, 31 2023 All customers Top customers ~700 k ~1,200 k ~25 k ~45 k customers customers top customers top customers ~200 k ~7 k 9.5% overlapping 8.2% overlappi
Slide 17: YOOX and THE OUTNET provide valuable Off-Price propositions
YOOX and THE OUTNET provide valuable Off-Price propositions with close to 25 years of pioneering expertise Off-Price €0.8bn 163mm GMV1,2 Site Visits1 1.8mm €274 Active Customers1 Average Order Value (AOV)1,2 MENA RoW 8% 1% APAC 14% Geographic 49% Europe Split1,3 Leading one-stop luxury Online destin
Slide 18: Off-Price customer base is clearly differentiated from Luxury
The Off-Price customer base is clearly differentiated from Luxury – <8% of customers overlap between segments DATA FOR LTM ENDING DEC, 31 2023 All customers Top customers ~1,900 k ~1,800 k ~25 k ~74 k customers customers top customers top customers ~300 k ~3 k 7.5% overlapping 2.9% overlapping custo
Slide 19: Transformation Plan
® ie) ¢ G Sam ® o. x< Lu x< =) | Transformation Plan
Slide 20: Transformation plan anchored around 5 pillars
Clear and ambitious transformation plan has been put in place, anchored around 5 pillars Operating model Operations Technology Customer data Corporate functions Protect and sharpen Optimize ops footprint Migrate NAP & MRP Drive superior Streamline corporate store identities for direct access to onto
Slide 21: Transformation plan builds on the proven capabilities of Mytheresa
Transformation plan builds on the proven capabilities and expertise of Mytheresa Proprietary tailored luxury e-commerce tech stack suitable to onboard further luxury front ends, with a highly scalable web stack Successfully completed large scale IT migration to a future proof platform with successfu
Slide 22: Highly regarded and experienced leadership team
Highly regarded and experienced leadership team has been put in place to execute the transformation plan Managing Directors Michael Kliger Dr. Martin Beer Chief Executive Officer Chief Financial Officer Joined MYT as CEO in 2015 Joined MYT as CFO in 2019 Led Mytheresa’s journey to Led Myther
Slide 23: New operating model establishes separate store identities
OPERATING MODEL The new operating model establishes separate store identities, while a centralized luxury infrastructure will enable synergies Separate luxury storefront management creates success with customers, Simplified, standalone while centralized operations coordinate for synergies off-price
Slide 24: Complementary operations footprint with optimization opportunities
OPERATIONS Complementary operations footprint with access to the main global luxury hubs and optimization opportunities Luxury | Mytheresa Warehouse Luxury | NAP & MRP Warehouses ~20%+ productivity Off-Price Warehouses improvement opportunity Luxury | NAP & MRP and Off-Price Warehouse in warehouses,
Slide 25: Migrating NAP & MRP onto Mytheresa's proprietary tech stack
TECHNOLOGY Migrating NAP & MRP onto Mytheresa’s proprietary tech stack will drive major efficiencies Digital Store Front Digital Store Front Digital Store Front ~70% tech cost reduction opportunity due to NAP MRP MYT modularization and standardization unlocking API Layer Content & Commerce Platform
Slide 26: Joint customer data and insights will fuel group-wide growth
CUSTOMER INSIGHTS Joint customer data and insights will fuel group-wide growth, without threatening store differentiation DATA FOR LTM ENDING DEC, 31 2023 Superior customer insights and AI capabilities to step- change… Personalization Improve customer understanding and targeting, offer hyper-persona
Slide 27: Financial Targets
LuxExperience Financial Targets
Slide 28: LuxExperience will report along three financial segments
LuxExperience will be reporting along three financial segments LUXURY | MYT LUXURY | NAP & MRP OFF-PRICE €1.0bn €1.1bn €0.8bn GMV1,2 GMV1,2 GMV1,2 1. Metrics as of the last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders p
Slide 29: Mytheresa has a track record of strong, profitable growth
Mytheresa has a track record of strong, profitable growth Mytheresa net sales development FY18-FY25E1 €MM +17% 900-905 CAGR 841 769 690 Proven growth trajectory, 612 outperforming the market Best-in-class profitability, 450 compared to online peers 379 Positive Operating Cash Flow, despite double-di
Slide 30: Mytheresa continues to deliver profitable growth
Mytheresa continues to deliver profitable growth against a tough macro environment Q3 FY251 YoY GROWTH FYTD 252 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 261.3 3.8% 722.6 7.2% Top Customers GMV3 (€MM) 96.5 7.8% 277.9 9.8% Net Sales (€MM) 242.5 3.8% 667.2 8.0% Gross Profit Margin4 44.8% 140bps 4
Slide 31: Mytheresa confirms medium-term growth and margin targets
Mytheresa confirms its medium-term growth and margin targets due to outstanding business model resilience FY24 Actuals FY25 Forecast Medium-Term Targets1 GMV €914m €975-980m % Growth 7% 7.0-7.5% 15-20% CAGR with strong category, regional, and Top Customer Growth Net Sales €841m €900-905m % Growth 10
Slide 32: NET-A-PORTER and MR PORTER strategic reset
NET-A-PORTER and MR PORTER have undergone a strategic reset, leading to conscious topline decline since FY23 NET-A-PORTER and MR PORTER net sales development FY20-251 €MM Volume-to-Quality strategy, 1,349 1,258 re-focusing the business on high- 1,230 1,203 value luxury customers 1,068 985 Gross prof
Slide 33: FY25 financials for NET-A-PORTER and MR PORTER
FY25 financials for NET-A-PORTER and MR PORTER confirm they are on the right track and there is clear upside NET-A-PORTER & MR PORTER Mytheresa FY241 FY251 LTM March, 2024 LTM March, 2025 FOCUS AREAS FOR NAP & MRP Net Sales % growth (10.9%) (11.2%) 11.4% 8.4% Reembark on growth trajectory Drive furt
Slide 34: Off-price initiated strategic shift from volume to quality
Off-price has also initiated the strategic shift from volume to quality Off-price (YOOX / The Outnet) net sales development FY20-251 €MM 1,208 1,177 946 926 957 Volume-to-Quality strategy, 826 initiated in FY24, focusing the business on high-value customers and resulting in a conscious topline decre
Slide 35: Elevation and simplification of Off-Price to reach best-in-class benchmarks
The elevation and simplification of Off-Price will enable it to reach “best-in-class” benchmarks Off-Price – YOOX / TON Off-Price “Best-In-Class” FY241 FY251 FOCUS AREAS FOR OFF-PRICE Net Sales % growth (18.7%) (13.7%) 12% Drive improvements in gross margin through focus on high Gross Profit Margin2
Slide 36: Medium-term targets for Luxury and Off-Price
Medium-term targets for Luxury and Off-Price focused on delivering high-single digit adj. EBITDA margin Luxury – NET-A-PORTER and MR PORTER Off-Price – YOOX and The Outnet Near-term Medium-term Near-term Medium- FY251 targets2 targets2 FY251 targets2 term targets2 GMV GMV (12.2%) (5%)-5% (13.6%) % g
Slide 37: Transformation requires €200-250MM restructuring costs over 24-36 months
Transformation of NAP & MRP and Off-Price (YOOX/TON) will require €200-250MM restructuring costs and take 24-36 months Est. completion Est. cost to year achieve (€ MM) Key synergy drivers • Streamlining logistics footprint, required to drive technology simplification and process optimization Operati
Slide 38: LuxExperience expected to return to positive adjusted EBITDA margin
LuxExperience expected to return to positive adjusted EBITDA margin in the near-term, Luxury - NAP/MRP positive in FY25 LuxExperience targeted adjusted EBITDA margin development1,2 % 7-9% 1-4% (1)-0% (1.4%) FY24 FY25E FY26/27E FY28/30E Luxury - MYT 3.1% 3-5% 5-7% 7-9% Luxury – NAP/MRP 3.1%3 2.6%3 3-
Slide 39: Turnaround plan fully funded with significant liquidity headroom
Turnaround plan fully funded with cash on balance sheet, and significant liquidity headroom left LuxExperience estimated cash need vs. current funds €MM 780 Non-utilized 175 RCFs 350-450 150-200 605 Cash at hand 200-250 YNAP cash burn in FY25 amounted to €57m1 Transformation Cost Operating cash Cash
Slide 40: Group targets €4bn net sales and 7-9% adj. EBITDA
At group level, LuxExperience targets €4bn net sales and 7-9% adj. EBITDA in the medium-term Near-term targets1 Medium-term targets1 GMV / Net Sales 10-15% CAGR (1%)-1% CAGR % Growth to achieve €4bn net sales in FY30 Adjusted EBITDA Margin 1-4% 7-9% as % of Net Sales 1. These are not projections; th
Slide 41: NET-A-PORTER
NET-A-PORTER THE OUTNET NET-A-PORTER THE OUTNET NET-A-PORTER THE OUTNET MR PORTER MYTHERESA NET-A-PORTER Yoox MYTHERESA THE OUTNET uxExperience MR PORTER MYTHERESA NET-A-PORTER Yoox MYTHERESA THE OUTNET MR PORTER Yoox MR PORTER YOOX MR PORTER Yoox