Richemont, Mytheresa and Yoox Net-a-Porter
Richemont to Sell YNAP to Mytheresa
Cartier owner Richemont agreed to sell its e-commerce business Yoox Net-A-Porter to luxury online platform Mytheresa.
Mytheresa To Acquire Yoox Net-a-Porter From Richemont
Mytheresa will be acquiring Yoox Net-a-Porter (YNAP) from Swiss conglomerate Richemont. The equity deal will see Mytheresa become the new owner of YNAP with a €555 million EUR ($609 million USD) cash position and no financial debt.
Richemont to sell struggling Yoox Net-a-Porter to Mytheresa
Richemont has agreed to sell its struggling digital business Yoox Net-a-Porter to online retailer Mytheresa, drawing a line under a failed venture that has cost the Swiss luxury group billions of euros.
Richemont sells YNAP to MyTheresa parent, takes stake in new venture
Richemont has agreed to sell its Yoox Net-a-Porter (YNAP) business to MYT Netherlands Parent BV, parent of e-commerce platform MyTheresa.
Richemont reaches sale agreement for underperforming YNAP
Richemont has entered a binding agreement with Mytheresa for the acquisition of 100% of the share capital of Yoo-Net-A-Porter (YNAP)
Mytheresa to acquire YNAP
Mytheresa (MYTE) to acquire 100% of the share capital of YNAP, from Richemont (CFRUY), with a cash position of €555M and no financial debt in exchange for shares to be issued by Mytheresa
Mytheresa Reaches Agreements With Richemont To Acquire YNAP - Quick Facts
MYT Netherlands Parent B.V. or Mytheresa (MYTE) and Richemont have entered into binding agreements for the acquisition of 100% of the
Richemont to Sell e-Commerce Business YNAP to Mytheresa
Cartier owner Richemont agreed to sell its e-commerce business Yoox Net-A-Porter to luxury online platform Mytheresa.
Cartier Owner Richemont Is Selling Its E-Commerce Business
Richemont, owner of luxury jewelers Cartier and Piaget, has finally found a buyer for its e-commerce business Yoox Net-A-Porter. Richemont has been looking to offload YNAP for the better part of the past couple of years as the operation has struggled to turn a profit.
Mytheresa Acquires YNAP from Richemont
Mytheresa will hand part of its shares to Richemont, while the off-price divisions, Yoox and The Outnet, will be separated from the luxury business following the acquisition.
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Richemont Sells Yoox Net-A-Porter to Mytheresa: A New Digital Luxury Giant Is Born
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