In a bold move reshaping the luxury e-commerce landscape, Mytheresa has signed an equity deal to acquire Yoox Net-a-Porter (YNAP) from Richemont, marking the end of Richemont’s long journey to offload the struggling platform. 

Richemont will sell YNAP with a cash position of €555 million and no financial deb as part of the deal which will take a 33% stake in Mytheresa, that plans to streamline YNAP by discontinuing its off-price division and integrating its e-commerce brands into Mytheresa’s platform.

This acquisition positions Mytheresa to become a dominant global player in luxury digital retail, aiming to redefine the sector. 

The transaction, expected to close in the first half of 2025, underscores the ongoing consolidation in luxury e-commerce amid market slowdowns and rising customer acquisition costs.