Mytheresa’s acquisition of Yoox Net-A-Porter marks a pivotal moment in luxury shopping, as it prepares to launch LuxExperience, enhancing accessibility and curation for discerning consumers.
A significant shift is underway in the luxury e-commerce sector as Mytheresa has secured the final regulatory approval needed to acquire Yoox Net-A-Porter from Richemont. This milestone acquisition is set to be finalized on April 23, 2025, leading to the formation of a new entity known as LuxExperience, which will encompass Mytheresa, NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET.
This merger signifies a transformative moment in high fashion shopping, promising to unite various luxury brands while maintaining their unique identities. Michael Kliger, CEO of Mytheresa, describes the upcoming changes as a “game-changer.” He promises that, under the LuxExperience umbrella, Mytheresa, NET-A-PORTER, and MR PORTER will sustain their distinctive brand characteristics while benefiting from a shared back-end infrastructure designed for greater scalability.
In contrast, YOOX and THE OUTNET will operate independently within their own division, aiming for a more streamlined business model that can effectively cater to both luxury and value-conscious consumers. The goal of this restructuring is to enhance brand clarity while providing a more focused shopping experience.
This new chapter for the luxury e-commerce landscape signals that discerning consumers, particularly in regions like the Emirates, will gain increased access to sought-after luxury labels alongside an elevated digital shopping experience that includes sharper curation. Kliger envisions a seamless blend of offerings, featuring Mytheresa’s curated selections, NET-A-PORTER’s trendsetting runway pieces, and MR PORTER’s expert menswear selections.
From a financial perspective, Mytheresa CFO Martin Beer anticipates substantial growth, projecting annual sales to reach €3 billion (exceeding Dhs 12 billion) and potentially scaling to €4 billion (over Dhs 16 billion) while maintaining leading profitability within the industry.
As this deal progresses toward completion, expectations are high for enhanced collaborations, tailored services, and quicker access to the season’s most desirable pieces—all supported by the combined capabilities of these well-known platforms.
With this acquisition, the LuxExperience aims to fundamentally alter the online shopping landscape for luxury fashion, placing the future of opulent shopping directly at the fingertips of fashion-forward individuals in the Emirates.
Source: Noah Wire Services
