YNAP news and archive

LuxExperience puts 700 jobs at risk as it plans to consolidate multiple divisions

LuxExperience, the multi-brand group formed following Mytheresa’s takeover of Yoox Net-a-Porter (YNAP), has said 700 jobs could be at risk as it plans to merge the operational and administrative structures of the YNAP brands. In a press release, the company announced that select structures within the luxury segment comprising Net-a-Porter and Mr...

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New book from Federico Marchetti, "The Geek of Chic," set for September release

Federico Marchetti's new book, with a foreword by Giorgio Armani, will be released in English on September 9th. The book, "The Geek of chic: an american dream italian style" (304 pages, 18.99 dollars), is published by the American publisher Post Hill Press. The book is described as an "inspiring story full of successes, mistakes, honesty and...

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Mytheresa completes acquisition of YNAP

E-commerce specialist Yoox Net-a-Porter (YNAP) now officially has a new owner. On Thursday, Munich-based fashion retailer Mytheresa and Swiss luxury goods group Compagnie Financière Richemont SA (Richemont) announced the completion of their transaction agreed last autumn. Accordingly, MYT Netherlands Parent BV, the listed parent company of...

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Mytheresa secures regulatory clearance for YNAP acquisition

German e-tailer Mytheresa has said that it has received clearance to acquire Yoox Net-a-Porter (YNAP) from the European Commission. With this, the company has now secured all necessary approvals from regulatory authorities to move forward with the sale and plans to close the transaction by April 23, 2025. Mytheresa had first announced its...

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Net-a-Porter to cease activities in China by March 20

Online fashion retailer Net-a-Porter has set its deadline for its withdrawal from China. The company published a statement on its Chinese website stating that sales activities in the country via the online shop, local app and other digital platforms will be discontinued on March 20. Following that, "after-sales services" such as returns and...

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Mytheresa: Holding to operate as LuxExperience following YNAP acquisition

The holding company of munich-based fashion retailer Mytheresa will operate under a new name following the takeover of Yoox Net-a-Porter (YNAP). MYT Netherlands Parent BV is currently preparing to rename the company as LuxExperience BV, the firm announced on Monday. Subject to shareholder approval in March, the company will be called...

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Mytheresa nominates Richemont CFO Burkhart Grund to supervisory board

Mytheresa has announced the appointment of Burkhart Grund, chief financial officer of Richemont, as a new supervisory board member, following the completion of its acquisition of YNAP. “We are pleased to welcome Burkhart Grund, a highly experienced financial expert, to our board,” said Nora Aufreiter, chair of the supervisory board of Mytheresa....

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Asos, Boozt and Selfridges join YNAP and Zalando’s Fashion Leap for Climate

Yoox Net-A-Porter (YNAP) has announced a number of new members joining its Fashion Leap for Climate, an educational initiative launched in 2022 alongside About You and Zalando designed as a response to the fashion industry’s climate challenge. British e-tailer Asos, Swedish footwear retailer Boozt and the Selfridges Group, the parent company to...

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Mytheresa closes the deal to acquire YNAP from Richemont

Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...

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Is Mytheresa set to acquire YNAP?

After what has been a long and, seemingly, tedious sales process, Swiss luxury giant Richemont may have finally found a buyer for its loss-making e-commerce platform Yoox Net-a-Porter (YNAP). It has been reported that German luxury e-tailer Mytheresa is close to snapping up what had been its online rival after formerly interested parties, Bain...

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Yoox Net-a-Porter to reportedly shutter China operations

Luxury fashion e-tailer Yoox Net-a-Porter (YNAP) is believed to be in the process of closing up shop in China as it looks to put more emphasis on markets it deems more profitable. The decision was confirmed by a spokesperson for the retailer’s parent company Richemont, who told the Financial Times that the move came as part of a wider global...

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YNAP and The King’s Foundation launch third edition of emerging talent initiative

Yoox Net-a-Porter (YNAP) has once again partnered with The King’s Foundation – formerly the Prince’s Foundation – for the duo’s emerging talent initiative, The Modern Artisan. Now in its third edition, the project has once again selected six trainees to participate in a nine-month paid training programme that will come to a head in the form of a...