April 24 – German luxury e-commerce retailer Mytheresa (NYSE:MYTE) has completed its acquisition of Yoox Net-a-Porter Group (YNAP) from Swiss luxury conglomerate Richemont (SWX:CFR), the companies announced on Wednesday. The transaction follows the receipt of all required regulatory approvals.
As part of the agreement, Mytheresa becomes the sole shareholder of YNAP, which will be consolidated under its parent company MYT Netherlands Parent B.V. The acquired business will be renamed LuxExperience B.V., with the group trading under the new ticker symbol “LUXE” on the New York Stock Exchange from May 1, 2025.
In exchange for YNAP shares and a net cash position of €555 million ($631.91 million), Richemont has received 49,741,342 shares in Mytheresa, amounting to a 33% stake in the company’s fully diluted share capital post-deal.
“This acquisition marks a significant milestone in the ongoing growth of Mytheresa,” said Nora Aufreiter, Chair of Mytheresa’s supervisory board. “We are creating a diversified luxury group with strong digital retail banners, increased operational efficiency, and global reach.”
The deal brings together several high-profile platforms including Mytheresa, NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET. The company said it will enhance these brands’ distinct identities while integrating them under a shared technology and logistics infrastructure to drive efficiency and value creation.
As part of the strategic realignment, Mytheresa plans to separate the off-price businesses YOOX and THE OUTNET from the core luxury division. The white label services offered by YNAP will also be phased out once Richemont’s Maisons migrate their online operations to alternative platforms.
The restructuring aims to simplify operations and streamline Mytheresa’s focus on premium and off-price digital retail, positioning the new LuxExperience group as a formidable player in the global online luxury market.
