MYTHERESA ANNOUNCES ACQUISITION OF YOOX NET-A-PORTER FROM RICHEMONT

Mytheresa has successfully acquired YNAP from Richemont. Mytheresa is now YNAP’s sole shareholder, and the consolidated 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 the new ticker symbol “LUXE,” effective May 1, 2025.

In exchange for all shares of YNAP and a net cash position of €555m (US$ 632m) 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.

“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,” says Nora Aufreiter, Chair of the Supervisory Board of MYT Netherlands Parent B.V.

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 and operational efficiency improvements. The off-price division – YOOX and The Outnet – will be separated from the luxury division to enable a 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.