LuxExperience Appoints Francis Belin As Head of Mytheresa

Francis Belin, previously President of Christie's Asia-Pacific and a former executive at Richemont and Swarovski, brings a deep understanding of luxury, cross-border sales and Asian markets, all key elements that can accelerate Mytheresa's international expansion.

Financially, the e-commerce platform closed the last financial year (2024) with net sales of 840.9 million euros, representing growth of nearly 10% compared to the previous year. These results provide a solid basis for valuing YNAP's assets.  The situation at Yoox/YNAP is more mixed. YNAP has seen a significant decline in sales in recent years, which led to the decision by the former owner, The reasons for the sale of YNAP’s activities by Richemontthe Swiss group Richemont, to sell the company.

Francis Belin faces many challenges: first, it is necessary to preserve Mytheresa's premium DNA while integrating higher-volume platforms aimed at a more diverse customer base. Second, it is essential for the company to improve operational efficiency, particularly with regard to inventory management and logistics costs.

Accelerating customer acquisition and retention, particularly in the United States and Asia, where luxury purchasing power remains strong despite everything, is another priority, as is the implementation of a tech roadmap to personalise the offering and master the omnichannel customer experience.

Francis Belin's profile combines several strengths: hands-on experience in sales and international networking, and skills honed in prestigious companies, which could help foster partnerships with other premium brands and strengthen Mytheresa's brand image. Under his leadership, LuxExperience can focus Mytheresa on the high end and use YNAP to capture volume, a more diverse customer base and new market share, accelerating the platform's geographic and digital expansion.

Mytheresa's fourth quarter 2025 results indicate solid fundamentals. The company recorded 11.5% growth in net sales and 8.9% growth for the full fiscal year (adjusted EBITDA up 73%). The average order value at Mytheresa also soared by 10% to 773 euros.