Mytheresa parent to rebrand as LuxExperience following YNAP acquisition
Mytheresa's parent company (MYT Netherlands Parent) will be renamed LuxExperience once it completes its planned acquisition of rival online luxury group Yoox Net-A-Porter (YNAP), which is expected to happen in the first half to this year.
The new name is intended send a signal of the group's intention to "build a leading global multi-brand digital luxury group that creates communities for true luxury enthusiasts and desirability through unique digital and physical experiences."
This newly named umbrella group will be the parent of the store brands Mytheresa, Net-A-Porter, Mr Porter, YOOX and The Outnet. The rebrand is set to be formalised at an extraordinary general meeting of shareholders on 6 March. The group will remain listed on the New York Stock Exchange (NYSE) with the trade name “LuxExperience” and a new ticker symbol of “LUXE”.

YOOX and Net-A-Porter (Alamy)
Mytheresa CEO Michael Kliger said of the move: “Luxury is an experience-driven business. The introduction of the new group name LuxExperience reflects our ambition to strengthen our position as a leading global multi-brand digital luxury group that builds a community for true luxury enthusiasts and creates desirability through digital and physical experiences.
"Within the group, we will further strengthen and develop the unique store brands and their identities, while creating synergies in the back-of-house. The new formed group will present one of the most exciting opportunities for investors worldwide to participate in the huge market opportunity in digital, multi-brand luxury shopping.”

Michael Kliger, Mytheresa
Mytheresa agreed a deal with luxury conglomerate Richemont to acquire YNAP for €555 million last year. Richemont will receive 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. Richemont CFO Burkhart Grund has been nominated to take a seat on the board of Mytheresa following the deal's completion.
When the deal was announced last October, Mytheresa's Kliger said it was his ambition to create a $4 billion global luxury force. He said it was intended that the Mytheresa and Net-A-Porter brands would be retained with the former focused on high net worth shoppers and the latter targeting aspirational consumers. The off-price businesses, The Outnet and YOOX, are set to be run separately from the full-price businesses on a differentiated business model.