Mytheresa is now YNAP’s sole shareholder which it will fully consolidate under the MYT Netherlands Parent B.V. umbrella. The company will be renamed “LuxExperience B.V.” and will continue to be listed on the New York Stock Exchange (NYSE) with the trade name “LuxExperience” and a new ticker symbol of “LUXE”, effective 1 May 2025.
Mytheresa has completed its acquisition of YNAP from Richemont, making it YNAP’s sole shareholder.
The merged entity, renamed LuxExperience B.V., will be listed on the NYSE under the ticker ‘LUXE’ from May 1, 2025.
Richemont receives a 33 per cent stake in Mytheresa.
The move aims to strengthen Mytheresa’s position in global digital luxury retail.
In exchange for all shares of YNAP and a net cash position of €555m (~$631.91 million) and no financial debt, Richemont has received 49,741,342 shares in Mytheresa, representing 33% of Mytheresa’s fully diluted share capital post issuance of the consideration shares.
Nora Aufreiter, Chair of the Supervisory Board of MYT Netherlands Parent B.V., said: “The successful acquisition marks a milestone in the great success story of Mytheresa. Our company will become a group that includes some of the best retail banners in digital luxury. We will use our proven strength to execute on our strategic plans and create even more value for our shareholders, brand partners, customers and employees. We are confident that in the course of the integration and restructuring we will become one of the strongest and most resilient global players in the digital luxury sector.”
The store brands Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will be strengthened in their differentiated and complementary profiles. Significant synergies will be achieved primarily through a shared infrastructure and technology platform as well as operational efficiency improvements. The off-price division – consisting of YOOX and THE OUTNET – will be separated from the luxury division to enable a much simpler and more efficient operating model under the new roof. YNAP’s white label service business will be discontinued as soon as the Richemont Maisons’ online stores powered by YNAP have been migrated to their own chosen platforms.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
