LuxExperience Appoints Francis Belin as New Mytheresa CEO

MUNICH--(BUSINESS WIRE)--Nov 25, 2025--

Today, LuxExperience B.V. (NYSE:LUXE), the leading digital, multi-brand luxury group is delighted to announce the appointment of Francis Belin as new Chief Executive Officer of Mytheresa, effective January 1, 2026.

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Francis 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, as President Asia Pacific and overlooking global Luxury and Asian Art at Christie's, Francis has achieved numerous milestones, cementing Christie's position as the global market leader. He has played a key role in securing some of the most important collections and works of Art. Francis has been pivotal in several important strategic initiatives, including acquisitions such as Gooding & Company, a leading car auction house in California. Prior to that, he held various roles at Swarovski and Richemont, having started his career as a management consultant at McKinsey & Company.

Francis Belin graduated from ESSEC in France and holds a diploma in International Management & Psychology from the University of Mannheim in Germany.

Following the tenure of Michael Kliger, who over the last 10 years successfully transformed Mytheresa into the leading luxury multi-brand digital platform, Francis Belin will succeed him as Mytheresa CEO and drive Mytheresa's continued global expansion while delivering exceptional value for its customers and partners. Francis will report to Michael, who in his role as LuxExperience Group CEO, will continue to lead the overall strategy at Mytheresa, NET-A-PORTER, MR PORTER and YOOX. Francis will lead the current Mytheresa leadership team, including the Chief Commercial Officer, the Chief Growth & Site Management Officer, the Chief Marketing & Customer Officer, the Chief Buying & Group Fashion Ventures Officer and the Chief Creative Officer, who will all continue with their current responsibilities.

Michael Kliger, Chief Executive Officer of LuxExperience, said, “I am extremely delighted to appoint Francis Belin as the new Mytheresa CEO. 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 Belin adds, "I am truly honored to take on the lead of Mytheresa. I am deeply impressed by the robust business model and strong brand positioning that Mytheresa has established under Michael´s leadership. 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.”

ABOUT MYTHERESA

Mytheresa is a leading luxury multi-brand digital platform. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. Mytheresa is part of LuxExperience, the leading digital, multi-brand luxury group and reported €988.5 million GMV in fiscal year 2025.

ABOUT LUXEXPERIENCE:

LuxExperience is the leading digital, multi-brand luxury group and the online shopping destination for luxury enthusiasts worldwide. LuxExperience operates a portfolio of some of the most distinguished store brands in digital luxury and creates communities for luxury enthusiasts with unique digital and physical experiences. Mytheresa, NET-A-PORTER and MR PORTER, jointly comprising the luxury segments of LuxExperience, offer highly curated edits of the most prestigious luxury brands across the world, featuring womenswear, menswear, kidswear, fine jewelry & watches, and lifestyle products. YOOX, which forms the off-price segment of LuxExperience, is the leading destination for multi-brand off-season online luxury shopping. The NYSE listed group operates worldwide.

For more information, please visit https://investors.luxexperience.com.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including statements relating to LuxExperience’s current expectations and projections relating to the recently completed YNAP acquisition and the operation of the combined companies; our ability to execute our business model and our business strategy. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

The forward-looking statements contained in this press release involve risks, uncertainties (many of which are beyond LuxExperience’s control) and assumptions, and you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. LuxExperience believes these factors include, but are not limited to: the risk that the divestment of THE OUTNET requires significant time and energy from LuxExperience’s management team or employees that distracts them from LuxExperience’s other operations; the risk that unexpected obligations, liabilities or complications may arise in connection with the divestment, including as a result of the transition services agreement; the risk that problems may arise in successfully integrating the businesses of YNAP into LuxExperience, including with respect to realizing the technological synergies associated with the YOOX business, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, LuxExperience’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.

LuxExperience undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, LuxExperience’s results could differ materially from the results expressed or implied by the forward-looking statements it makes. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent LuxExperience’s management’s beliefs and assumptions only as of the date such statements are made.

Further information on these and other factors that could affect LuxExperience’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.luxexperience.com.

Francis Belin

DUBAI, United Arab Emirates (AP) — Iran kept up its attacks on Israel and Persian Gulf neighbors on Wednesday as airstrikes pounded Tehran and U.S. President Donald Trump again made contradictory statements about whether he was ready to wind down the war or escalate it.

Trump struck a belligerent tone Wednesday in a Truth Social post, demanding that Iran stop blocking the Strait of Hormuz — the waterway vital to global oil supplies — or the U.S. would bomb the Islamic Republic “back to the Stone Ages.” A day earlier, Trump said the U.S. “will not have anything to do with” ensuring the security of ships passing through Hormuz; that was an apparent backtrack from a previous threat to attack Iran's power grid if it didn't open the strait by April 6.

Trump, who is scheduled to give a televised address Wednesday evening, said Tuesday he could walk away from the war in two to three weeks once he felt confident Iran would not be able to build a nuclear weapon — even if Tehran does not agree to a ceasefire. The hint of an end in sight has buoyed Wall Street the past two days.

His latest Truth Social post struck a harder line as more American troops move into the region for a possible ground offensive after weeks of airstrikes targeting Iran.

Trump also claimed Wednesday that “Iran's New Regime President” wanted a ceasefire. It wasn't clear to whom the U.S. president was referring since Iran still has the same president. Iran’s Foreign Ministry spokesman, Esmail Baghaei, called Trump's claim “false and baseless,” according to a report on Iranian state television.

Speaking earlier to Al Jazeera, Iranian Foreign Minister Abbas Araghchi signaled Tehran’s willingness to keep fighting. “You cannot speak to the people of Iran in the language of threats and deadlines,” he said. “We do not set any deadline for defending ourselves.”

Since the war began on Feb. 28, Trump has offered shifting objectives and repeatedly has said it could be over soon while also threatening to widen the conflict. Thousands of additional U.S. troops are currently heading to the Middle East, and speculation abounds about the purpose of their deployment.

Just days ago, Trump threatened to attack Iran’s Kharg Island oil export hub. And there has also been speculation about whether the U.S. could decide to send in military forces to secure Iran’s uranium stockpile — a complex and risky operation, fraught with radiation and chemical dangers, according to experts and former government officials.

Adding to the confusion is what role Israel — which has been bombing Iran alongside the U.S. — might play in any of these scenarios.

Trump has been under growing pressure to end the war as oil prices have skyrocketed, pushing up the cost of gasoline, food and other goods. The price of Brent crude, the international standard, is up more than 40% since the start of the war, though it declined slightly on Wednesday and traded at around $101 a barrel.

The U.S. has presented Iran with a 15-point plan aimed at bringing about a ceasefire, including a demand for the strait to be reopened and for its nuclear program to be rolled back.

Iran insists its nuclear program is peaceful. And in a report last week by Iranian state TV's English-language broadcaster, an anonymous official was quoted as saying Iran had its own demands to end the fighting, including retaining sovereignty over the strait.

In the interview with Al Jazeera, Araghchi acknowledged receiving direct messages from U.S. Mideast envoy Steve Witkoff. He insisted, however, that there were no direct negotiations and said Iran has no faith that talks with the U.S. could yield any results, saying “the trust level is at zero.”

He warned against any U.S. attempt to launch a ground offensive, saying “we are waiting for them.”

In a deal ostensibly to give diplomacy a chance, U.S. officials have given “clear assurances” that Araghchi and Iran's Parliamentary Speaker Mohammad Bagher Qalibaf won't be targeted, according to three officials who spoke on condition of anonymity because they're not authorized to speak publicly about the matter.

President Masoud Pezeshkian posted on social media Wednesday a letter addressing U.S. citizens, saying that before the war, his country had pursued negotiations, but that the U.S. chose to withdraw from that path. “Exactly which of the American people’s interests are truly being served by this war? Was there any objective threat from Iran to justify such behavior?” Pezeshkian asked in the letter posted in English on his X account.

A cruise missile slammed into an oil tanker off Qatar’s coast Wednesday, the Defense Ministry said. The crew was evacuated and no casualties were reported. A Kuwaiti oil tanker came under attack off Dubai the day before, one of more than 20 ships attacked by Iran during the war.

In the United Arab Emirates, a person was killed when he was hit by debris from an intercepted drone in Fujairah, one of the country’s seven emirates.

In Kuwait, the state-run KUNA news agency said a drone hit a fuel tank at Kuwait International Airport, sparking a large fire.

Jordan’s military said it intercepted a ballistic missile and two drones fired from Iran in the last 24 hours. No casualties were reported. Two drones were also intercepted in Saudi Arabia.

In Israel, sirens sounded to warn of incoming missiles and AP reporters heard loud booms in Tel Aviv as the windows of buildings shook from the reverberations. There were no immediate reports of damage or casualties.

An airstrike on Tehran appeared to have hit the former U.S. Embassy compound, which has been controlled by Iran’s Revolutionary Guard since American diplomats were held hostage there in 1979. Witnesses said buildings outside the massive compound had their windows blown out.

In Lebanon, at least five people were killed in an Israeli strike on a Beirut neighborhood.

Israel invaded southern Lebanon after the Iran-linked Hezbollah militant group began launching missiles into northern Israel days after the outbreak of the war. Many Lebanese fear another prolonged military occupation.

More than 1,200 people have been killed in Lebanon and more than 1 million displaced, according to authorities. Ten Israeli soldiers have also died there.

In Iran, authorities say more than 1,900 people have been killed, while 19 have been reported dead in Israel. More than two dozen people have died in Gulf states and the occupied West Bank, while 13 U.S. service members have been killed.

Rising reported from Bangkok. Associated Press writers Giovanna Dell’Orto in Miami, Farnoush Amiri in New York and Samy Magdy in Cairo contributed to this report.

A young girl is comforted by her father and Israeli soldiers as they take cover in a bomb shelter during air raid sirens warning of incoming Iranian missile strikes in Bnei Brak, Israel, Wednesday, April 1, 2026. (AP Photo/Oded Balilty)

People inspect the site of an Israeli strike amid debris and damaged vehicles in Beirut, Lebanon, Wednesday, April 1, 2026. (AP Photo/Hassan Ammar)

A man feeds stray cats in Tehran, Iran, Tuesday, March 31, 2026. (AP Photo/Vahid Salemi)

The Indian flagged LPG carrier Jag Vasant transporting liquefied petroleum gas, is seen at the Mumbai Port in Mumbai, India, after it arrived clearing the Strait of Hormuz, Wednesday, April 1, 2026. (AP Photo/Rafiq Maqbool)

Firefighters and rescue workers work at the site of Israeli airstrikes, in Beirut, Lebanon, Wednesday, April 1, 2026. (AP Photo/Hussein Malla)

A firefighter extinguishes a car at the site of Israeli airstrikes, in Beirut, Lebanon, Wednesday, April 1, 2026. (AP Photo/Hussein Malla)

Israel's rescue teams and residents take shelter as sirens sounds next to a site struck by an Iranian missile in Bnei Brak, Wednesday, April 1, 2026. (AP Photo/Oded Balilty)

A police vehicle is seen through a shattered windshield at the site of an Israeli strike in Beirut, Lebanon, Wednesday, April 1, 2026. (AP Photo/Hassan Ammar)

Two men ride scooters past charred debris at the site of an Israeli strike in Beirut, Lebanon, Wednesday, April 1, 2026. (AP Photo/Hassan Ammar)