Luxury e-commerce faces recession as Mytheresa cuts 700 jobs while Ssense enters insolvency

The luxury digital commerce industry entered a critical recession phase on September 3, 2025, when LuxExperience B.V., the parent company of Mytheresa, announced plans to eliminate approximately 700 positions across YOOX NET-A-PORTER operations. This announcement coincided with Ssense’s bankruptcy filing in Canadian courts, according to legal documents filed with the Supreme Court of Quebec. According…