Francis Belin, a former Christie’s executive, has been named chief executive officer of Mytheresa, the luxury website operated by LuxExperience.
Belin will begin his new job on Jan. 1. His objective will be to sustain Mytheresa’s track record of strong global growth.
Michael Kliger, chief executive officer of LuxExperience, said in a statement Tuesday: “With Francis we have found an exceptional leader, who is renowned for his customer-centric focus, global mindset, delivery of excellent results and collaborative leadership style. I am looking forward to supporting Francis as he leads the next exciting chapter for the Mytheresa business.”
Francis will report to Kliger, who had been CEO of Mytheresa for 10 years, until the business acquired Yoox Net-a-porter in April and he became CEO of the combined enterprise, which was renamed LuxExperience.
LuxExperience purchased YNAP from Compagnie Financière Richemont, trading a 33 percent stake in the combined business for 555 million euros in cash. Kliger has continued to oversee Mytheresa since the deal.
“I am deeply impressed by the robust business model and strong brand positioning that Mytheresa has established under Michael’s leadership,” Belin said in his statement. “I look forward to working alongside the talented team to unlock Mytheresa’s next phase of global growth as an industry leader in the luxury market.”
The Munich-based LuxExperience indicated Belin brings “extensive and diverse luxury experience and proven leadership in driving international growth. He also brings a deep understanding of high-net-worth individuals worldwide.”
Most recently, Belin served as Christie’s president, Asia-Pacific, overlooking global luxury and Asian art at Christie’s. He played a key role in securing some of the auction house’s most important collections and works of art, and in several important initiatives, including the acquisition of Gooding & Company, a leading car auction house in California. Prior to Christie’s, Belin held roles at Swarovski and Richemont. He started his career as a management consultant at McKinsey & Co.
Belin will report to Kliger and is expected to continue Mytheresa’s global expansion. As LuxExperience Group CEO, Klinger will continue to lead the overall strategy at Mytheresa, Net-a-porter, Mr Porter and Yoox.
Mytheresa was founded as a boutique in Munich in 1987 and launched into online e-commerce in 2006. Mytheresa offers ready-to-wear, shoes, bags and accessories for women, men and kids as well as lifestyle products and fine jewelry. It’s considered a highly curated edit of up to 250 brands focused on true luxury, including Bottega Veneta, Brunello Cucinelli, Dolce & Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row and Valentino. Mytheresa generated 988.5 million euros in its fiscal 2025 year.
Mytheresa, Net-a-porter and Mr Porter are the online luxury segments of LuxExperience, while Yoox is the off-price segment.
Last week, LuxExperience reported better-than-expected results for its first fiscal quarter, led by solid top- and bottom-line growth at Mytheresa. LuxExperience also cited decreases in expenses across all segments and indicated it has been making progress turning around its Net-a-porter, Mr Porter and off-price segments, which have been showing declines. LuxExperience reported that its gross merchandise value declined 4.3 percent to 589 million euros. There was an adjusted loss before interest, taxes, depreciation and amortization of 28.1 million euros.
However, Mytheresa achieved GMV growth of 13.5 percent to 245.9 million euros and net sales growth of 12.2 percent to 226.3 million euros. Gross profit margin was 44.6 percent, an increase of 70 basis points year-over-year.
