On April 24, Mytheresa, the luxury e-commerce company headquartered in Munich, Germany, officially announced the completion of its acquisition of YOOX NET-A-PORTER (YNAP) from Richemont. With all necessary regulatory approvals secured, the transaction is now finalized.
Through this acquisition, Mytheresa has acquired 100% ownership of YNAP and will integrate it as a wholly owned subsidiary. The legal entity will be renamed LuxExperience B.V., and trading under the new ticker symbol “LUXE” on the New York Stock Exchange is scheduled to begin on May 1, 2025.
Richemont Acquires Approximately 33% Stake
In exchange for YNAP’s equity and a net cash position of €555 million (debt-free), Mytheresa has issued 49,741,342 shares to Richemont. This transaction makes Richemont a strategic shareholder, now holding approximately 33% of Mytheresa’s fully diluted share capital.
Nora Aufreiter, Chair of the Supervisory Board, commented on the announcement as follows: “This successful acquisition marks a significant milestone in the remarkable success story of Mytheresa. Our company is evolving into a group that encompasses some of the most outstanding retail banners in the digital luxury market. By leveraging our proven track record and strengths, we will steadily execute our strategic plans to deliver even greater value to our shareholders, brand partners, customers, and employees. Through the process of integration and restructuring, we are confident that we will become one of the strongest and most resilient players in the global digital luxury industry.”
Strengthening the Brand Portfolio and Operational Efficiency
Moving forward, brands under the group umbrella—Mytheresa, NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET—will be strategically enhanced to leverage their individual brand identities and customer bases while reinforcing each other’s value. Shared infrastructure and a unified technology platform are expected to unlock substantial operational efficiencies and synergies.
In addition, the off-price division, consisting of YOOX and THE OUTNET, will be separated from the luxury business to establish a leaner and more efficient operating model. Meanwhile, YNAP’s white-label e-commerce services will be phased out as Richemont’s maisons migrate their online stores to independently chosen platforms.
Redefining the Digital-Luxury Era
With this deal, Mytheresa is building a next-generation luxury ecosystem—vertically integrated, digitally driven, and designed for profitability—by combining a highly curated high-end customer base with cutting-edge technology and exceptional service.
Richemont, while stepping back operationally, maintains a strong strategic position as a key shareholder. It will continue to support Mytheresa while focusing on maximizing the value of its maisons and redesigning a more direct and personalized customer journey.
As the lines between digital innovation and luxury refinement continue to blur, this landmark acquisition signals a powerful shift in the global fashion landscape—and all eyes are on how this new alignment will reshape the future of the luxury market.
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