Overview

• Richemont will receive a 33% equity stake in Mytheresa in exchange for selling YNAP, while also providing a €100 million credit facility.
• Mytheresa plans to separate YNAP's off-price division, including Yoox and The Outnet, to streamline operations and enhance profitability.
• The acquisition is expected to close in the first half of 2025, pending antitrust approvals, and will not require shareholder approval.
• Mytheresa aims to maintain distinct brand identities for its storefronts, including Mytheresa, Net-a-Porter, and Mr. Porter, while sharing infrastructure.
• Mytheresa's stock surged following the announcement, reflecting market confidence in the strategic benefits of the acquisition.