LuxExperience opens a new phase with the reconfiguration of Mytheresa. The luxury e-commerce company will have a new CEO, Francis Belin. He leaves Michael Kliger, after ten years, to become CEO of the group, on an exclusive basis. The appointment will be effective as of January 1st, 2026.
Belin comes from Christie’s, the London-based auction house, where he served as president of Asia-Pacific and head of global luxury and Asian art. Previously, he worked for Swarovski and Richemont, while he began his career as a management consultant at McKinsey, as reported by LuxExperience in a statement on Tuesday.
Belin will lead global expansion and report to Kliger, who will continue to lead the overall strategy of the group that owns Mytheresa, Net-a-Porter and an off-price segment with Yoox. The new executive will oversee commercial, growth, marketing and customer service, buying and fashion, and creative.
Belin will be in charge of global expansion and will report to Kliger, who will continue as CEO of the group
Mytheresa, founded as a boutique in 1987, was launched online in 2006. It currently offers ready-to-wear, shoes, handbags and accessories for women, men and children, as well as lifestyle products and jewelry. It has a selection of 250 brands including Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row and Valentino.
The group’s latest results, recently published, indicate a downward trend for LuxExperiencie, despite the good performance of MyTheresa. LuxExperience’s aggregate sales for the first quarter (period ending September 30th), stood at €573.5 million, down 8% year-on-year. Gross profit, meanwhile, was flat at €250.7 million, compared with €253 million in the same period of 2024.
It was downward for gross operating profit (ebitda), which plunged from €22.9 million negative to record more than €70 million negative. The European digital luxury group soared net losses, closing the quarter in the red by up to 85.4 million euros, compared to the 23.5 million it lost in the first quarter of a year ago.
MyTheresa, however, managed to close the period on an upward trend. Specifically, through the German luxury platform, LuxExperience sold 12.2% more at the close of the first quarter. The company’s sales with MyTheresa stood at €226.3 million, with an ebitda margin of 3.5%, compared to 1.4% a year ago.
LuxExperience was officially formalized in the middle of this year, the result of the merger of Mytheresa and Yoox Net-a-Porter (Ynap), and has set a strategic plan to reach 4 billion euros in annual sales by 2030, with the challenge of reversing the Ynap results.
