MYT Netherlands (MYTE) has released an update.
MYT Netherlands Parent B.V., commonly known as Mytheresa, has struck a deal to acquire online luxury fashion retailer YOOX NET-A-PORTER from Richemont in exchange for a 33% equity stake in Mytheresa. This strategic acquisition is set to create a leading global digital luxury group with a diverse multi-brand offering, aiming to merge YNAP’s Luxury division with Mytheresa. The transaction, expected to close in the first half of 2025, will involve Richemont providing a €100m revolving credit facility to YNAP.
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