Mytheresa gets green light to acquire Yoox Net-A-Porter
Mytheresa has received regulatory approval from the European Commission to acquire Yoox Net-A-Porter.
Mytheresa has received regulatory approval from the European Commission to acquire Yoox Net-A-Porter.
The deal, announced back in October, is set to close on April 23 and will see the luxury etailers form a new company called LuxExperience.
Mytheresa confirmed the news on Friday and unveiled several executive changes for the new entity.
The luxury platform’s chief executive Michael Kliger will remain as CEO and become managing director for the new group.
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YNAPs online flagship store president Francesca Tranquilli will be promoted to chief transformation officer of LuxExperience to help integrate YNAP into the combined entity.
Net-A-Porter’s CEO Alison Loehnis will step down in June and be succeeded by Mytheresa’s North American president Heather Kaminetsky.
While Toby Bateman, who was a founding member of Mr. Porter and left the retailer in 2019, will head up Net-a-Porter’s menswear arm, Mr. Porter.
Net-a-Porter and Mr. Porter will remain standalone sites under its new ownership but will migrate onto the same software platform as Mytheresa, while Yoox and The Outnet will remain on their existing platforms.
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