On Thursday, Mytheresa successfully completed its acquisition of Yoox Net-a-Porter from Richemont, through its subsidiary Richemont Italia Holding S.P.A.. With this strategic move, Mytheresa has emerged as the sole shareholder of YNAP. In this significant transaction, Richemont has received 49,741,342 shares in Mytheresa, which equates to 33% of Mytheresa’s fully diluted share capital after the issuance of these consideration shares. In return, Richemont has also benefited from a net cash position of €555 million (approximately $631.8 million) while maintaining no financial debt. This acquisition marks a pivotal shift in the luxury fashion landscape, enhancing Mytheresa’s market presence and operational capabilities.
MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont Announce the Successful Completion of Mytheresa’s Acquisition of YOOX NET-A-PORTER (“YNAP”) [press release]
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