Mytheresa Finalizes Acquisition of YNAP
Deal News | Apr 21, 2025 | EIN
German luxury e-commerce platform Mytheresa is set to finalize its acquisition of Yoox Net-a-Porter (YNAP) from Swiss conglomerate Richemont on April 23, 2025. This acquisition is a significant milestone in developing LuxExperience B.V., an international luxury e-commerce group formed to unite brands like Mytheresa, Net-a-Porter, Mr Porter, Yoox, and The Outnet under one operational framework. The transaction, initiated in October 2024, received unconditional merger clearance from the European Commission, allowing Mytheresa to proceed. LuxExperience's strategy focuses on platform migration, backend harmonization, and restructuring off-price divisions to improve operations and profitability in a competitive luxury digital marketplace. Richemont retains a 33% equity stake and has committed 555 million in cash and a 100 million credit facility to support the transition. The integration process is projected to last 24 to 36 months, targeting enhanced logistics, inventory management, and brand equity preservation. Industry analysts are keenly observing how LuxExperience will balance in-season and off-price strategies while maintaining operational efficiency globally.
Sectors
- E-commerce
- Luxury Goods
- Mergers and Acquisitions
Geography
- Germany – Mytheresa, based in Germany, is the acquiring company.
- Switzerland – Richemont, the selling company of YNAP, is based in Switzerland.
- Europe – The acquisition involves entities with operations and strategic plans impacting the broader European luxury e-commerce market.
Industry
- E-commerce – The article discusses the formation of a major luxury e-commerce group, LuxExperience, including its acquisition activities and strategic initiatives.
- Luxury Goods – The article focuses on a collection of luxury brands being united under the LuxExperience group, emphasizing the luxury goods market.
- Mergers and Acquisitions – The article details Mytheresa's acquisition of YNAP, a key transaction shaping the LuxExperience group.
Financials
- 555 million – The amount Richemont committed in cash for the transition.
- 100 million – The revolving credit facility committed by Richemont.
- 4 billion – The projected annual gross merchandise value (GMV) for the consolidated group.
- 33% – The equity stake Richemont will retain in the newly combined entity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mytheresa | Acquiring Company | Company | A German luxury e-commerce platform acquiring YNAP. |
| Yoox Net-a-Porter (YNAP) | Target Company | Company | The company being acquired by Mytheresa. |
| Richemont | Selling Company | Company | Swiss luxury goods holding company selling YNAP. |
| LuxExperience B.V. | Newly Formed Entity | Company | A global luxury e-commerce group formed by integrating multiple luxury platforms. |