Richemont announced on November 13, 2026, a divestiture agreement to sell Yoox Net-A-Porter to Mytheresa in an all-share transaction. Richemont will transfer 100% of YNAP’s share capital to Mytheresa for newly issued common shares representing a 33% fully diluted equity interest in the enlarged entity.
According to merger filings submitted to financial regulators across Zurich and the New York Stock Exchange, Richemont agreed to deliver YNAP at closing with a clean cash balance of €555 million and zero external funded indebtedness. Richemont will provide Mytheresa an exclusive six-year committed revolving credit facility totaling €100 million to support technological migration across fulfillment centers.
During an institutional investor presentation documented by the Financial Times and Reuters, Mytheresa Chief Executive Officer Michael Kliger said combining Mytheresa’s disciplined customer acquisition economics and high-touch curation with the international brand equity of Net-A-Porter and Mr Porter would construct a digital luxury group generating over €4 billion in gross merchandise volume. Kliger said the group would preserve each storefront’s editorial voice while consolidating back-end logistics architectures to achieve verified operational profitability. The merged entity plans to maintain its New York Stock Exchange listing under LuxExperience and integrate Net-A-Porter, Mr Porter, Mytheresa, Yoox and The Outnet.
The acquisition was formally submitted for statutory regulatory review before the European Commission Directorate-General for Competition and the United Kingdom Competition and Markets Authority. Executive leadership expressed confidence that complementary operational profiles of in-season luxury and off-season clearance portfolios will secure unconditional antitrust clearances during the first quarter of 2025; final commercial closing remains scheduled for April 2025. Richemont shares advanced 1.5% on the SIX Swiss Exchange. Richemont Chairman Johann Rupert confirmed in a shareholder letter that the Swiss group will concentrate capital expenditures exclusively across core jewelry and horological maisons, including Cartier and Van Cleef & Arpels.
