After the takeover of Yoox Net-A-Porter (YNAP) by Mytheresa and the Reason for Reaching in Luxexperience, the group announced on Thursday that up to 700 jobs could be at risk. The surgical and administrative structures of the YNAP brands are to be merged in the future.
In a press release, the company announced that selected structures in the luxury segment-consisting of NET-A-Porter and MR Porter-as well as in the off-price segment-consisting of Yoox and The Outnet-are merged. The measures concern locations in Italy, Great Britain, the USA and other regions.
Luxexperience emphasized that these changes could lead to “partial personnel loss in several locations”. Employees: Interior in the countries mentioned are potentially affected. The decision to merge the departments is made as part of the efforts to increase efficiency and structural optimization. A simplified business model with a common infrastructure is to be implemented.
Reduction in personnel crucial for the transformation plan
The company assumes that the former YNAP brands as part of the more comprehensive transformation plan will “regain growth and financial strength after years of decline”. HR reduction is “decisive” for this.
The message also underlined its persistent commitment to Italy and Great Britain as the headquarters of the brands. Italy remains operational hub of Luxexperience and Headquarters from Yoox, while Great Britain remains the location of the main offices of Net-A-Porter, MR Porter and The Outnet. It was also admitted to the effects of the planned measures and explained that the employees concerned were to be supported by “responsible and constructive solutions”. “All relevant interest groups and employee representatives: Interior is informed in accordance with the applicable regulations,” it said.
Luxexperience was created after the takeover of the YNAP group by the German online retailer Mytheresa in April 2025. The merger is supposed to create an “undisputed market leader in global, digital luxury”. At the same time, the company is faced with a challenging luxury market, which is characterized by both declining demand and increased competition.
To mitigate the effects, the group has already implemented a company-wide restructuring of YNAP management. In addition, Luxexperience is planning “considerable investments in future growth through stronger customer orientation, higher marketing expenses and larger shopping budgets”.
This article was used with digital tools translated.
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