- Mytheresa (MYTE, Financial) finalizes acquisition of YOOX NET-A-PORTER (YNAP) from Richemont.
- The combined company will rebrand as LuxExperience B.V., trading under new ticker "LUXE" from May 1, 2025.
- Richemont receives 33% share in Mytheresa post-acquisition, valuing YNAP at €555 million net cash.
Mytheresa (MYTE) has successfully completed its acquisition of YOOX NET-A-PORTER (YNAP) from Richemont, marking a pivotal moment for the luxury digital retailer. With the transaction now closed, Mytheresa will fully consolidate YNAP under its MYT Netherlands Parent B.V. umbrella, which will be renamed LuxExperience B.V. The rebranding includes a transition to a new ticker symbol, "LUXE," effective May 1, 2025, on the New York Stock Exchange (NYSE).
In exchange for YNAP and a net cash position of €555 million, Richemont has received 49,741,342 shares in Mytheresa, representing 33% of Mytheresa’s fully diluted share capital after the issuance of consideration shares. This strategic move is aimed at enhancing Mytheresa's market position in the digital luxury sector by leveraging synergies between its existing store brands like NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET.
The integration promises significant synergies through shared infrastructure, a unified technology platform, and operational efficiency improvements. The company's off-price division will be streamlined, separating YOOX and THE OUTNET from luxury offerings to achieve a more efficient operating model. As part of this strategic shift, YNAP's white label service business will be discontinued once Richemont Maisons' online stores transition to their respective platforms.
