The e-commerce specialist Yoox Net-A-Porter (YNAP) now officially has a new owner. On Thursday, the Munich fashion retailer Mythheresa and the Swiss Luxury Gutz Group Compagnie Financière Richemont Sa (Richemont) announced the end of their transaction agreed last autumn.
According to this, Myt Netherland’s Parent BV, the listed umbrella company of Mytheresa, acquired all shares in Ynap from the Richemont daughter Richemont Italia Holding Spa. In return, the Swiss Group received around 49.7 million shares from MyT and is now holding a 33 percent participation in society.
As announced in advance, MyT will now rename BV in Luxexperience and will be noted with the new abbreviation “Luxe” on the New York Stock Exchange from May 1st. A few days ago, the group of companies had also presented its future management team.
Supervisory Council leader recognizes “milestone in the great success story of Mytheresa”
Under the roof of the company, the proven brands Mythheresa, Yoox, Net-A-Porter, MR Porter and The Outnet are to be continued with their specific profiles, but will benefit from “considerable synergy effects” by using the common infrastructure and a uniform technology platform.
According to the group of companies, the platforms Yoox and The Outnet are separated from the luxury online store and form a separate outlet division. This creates a “much simpler and more efficient business model”, according to a message.
Nora Aufiter, the chairman of the supervisory board of Myt Netherland’s Parent BV, paid tribute to the transaction that has now been carried out: “The successful takeover marks a milestone in the great success story of Mytheresa,” she said in a statement. “Our company becomes a group that includes some of the best retail banner in the digital luxury area.”
“We will use our tried and tested strength to implement our strategic plans and even larger values for our shareholders: inside, branded partners: inside, customer and employees: to create inside,” says sacrifice. “We are confident that, in the course of integration and restructuring, we become one of the strongest and most resistant global players in the digital luxury sector.”