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Mytheresa on Thursday announced the completion of its deal to acquire Yoox Net-a-Porter.
The combined company will fall under the parent organisation LuxExperience, which will start trading under that moniker on the New York Stock Exchange starting May 1.
Earlier this month, Mytheresa announced a forthcoming executive shuffle in anticipation of the deal closing, including installing former YNAP staffers Heather Kaminetsky and Toby Bateman as the respective heads of Net-a-Porter and Mr. Porter and elevating Mytheresa’s chief executive, Michael Kliger, as the head of the entire LuxExperience group.
LuxExperience anticipates it can generate €4 billion ($4.5 billion) in gross merchandise volume — or sales done through its platforms — by 2029, securing a leading position in luxury e-commerce as rivals like Farfetch work to regain their ground in the sector.
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