The German luxury e-commerce platform plans to rename itself LuxExperience to reflect its expanded scope, following the ongoing acquisition of the four YNAP sites (Net-A-Porter, Mr Porter, Yoox and The Outnet) from Switzerland’s Richemont.
A new luxury e-commerce group, LuxExperience, is soon to be born.
New…well, not quite. LuxExperience is the new name Mytheresa has in mind for its entire business, which will add the four YNAP online retailers Net-A-Porter, Mr Porter, Yoox and The Outnet to its initial base.
Mytheresa is thus expected to finalize their acquisition from Richemont before the end of the first half of 2025, at a cost of around €555 million.
Agreement with Richemont
Last October, Richemont and Mytheresa reached an agreement to this effect. The Swiss giant, which will retain a one-third (33%) stake in YNAP, has also committed to providing a credit facility – renewable over six years – of 100 million euros to YNAP to support its operational financing.
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Read also > YNAP: Mytheresa agrees with Richemont to buy the platform
Featured photo: © Mytheresa
