Mytheresa parent LuxExperience offloads The Outnet to focus on YOOX

Luxury off-price platform The Outnet is stepping out on its own. Mytheresa's parent company, LuxExperience, has struck a deal to sell the assets behind the site - including brand rights, customer data, inventory, the US distribution centre and associated staff - to The O Group LLC. 

Since its launch in London in 2009, The Outnet has been home to past-season luxury fashion, offering coveted labels at reduced prices. Net sales for 2025 were an estimated €260 million (£228 million). Under new ownership, The Outnet will have the freedom to pursue growth with more agility, while LuxExperience focuses on streamlining its other luxury businesses.

Michael Kliger, CEO of LuxExperience, described the deal as "the optimal solution both for The Outnet and for our Group," highlighting that the platform will now operate independently while LuxExperience channels its energy into YOOX, Net-A-Porter and Mr Porter.

"The transaction will allow The Outnet to achieve its full potential under a renewed independent, stand-alone business model," he added.

The $30 million cash transaction is subject to adjustment based on inventory levels, LuxExperience will continue its commercial relationship with The Outnet for a defined period. The deal is expected to close in Q1 2026.

The sale continues LuxExperience’s broader goal to simplify its structure and sharpen its brand strategy following the integration of Yoox Net-A-Porter (YNAP) earlier this year. The deal was made last year, when Mytheresa agreed to acquire YNAP for €555 million from Richemont. Richemont received 33% of the fully diluted Mytheresa share capital upon completion of the deal and will also provide a six-year €100 million revolving credit facility.

The combined entity positions LuxExperience as a formidable global force. The company said it expects the medium-term outlook for the combined business to achieve around €4 billion (£3.44 billion) net sales per year and an adjusted EBITDA margin of 7-9%. However, it admits integration will come with challenges. For example, Yoox Net-A-Porter is expected to bring an EBITDA loss of €20-30 million (£17.2-25.8 million) for FY25.