Johann Rupert's Richemont Finalizes Ynap Divestment To Mytheresa

Richemont completes its YNAP divestment to Mytheresa, receiving 33 equity and 555 million 609.7 million in cash, ending its operational role in YNAP.

Mytheresa will rebrand YNAP as LuxExperience B.V. and enhance luxury offerings while phasing out white-label services.

The acquisition boosts Mytheresas infrastructure and global digital presence, reinforcing its standing among top-tier online luxury retailers.

Richemont, the Swiss luxury group chaired by South African billionaire Johann Rupert, has finalized the sale of YOOX NET-A-PORTER YNAP to MYT Netherlands Parent B.V., the parent company of Mytheresa, for 609.7 million. The deal, executed through Richemont Italia Holding S.P.A., marks a major move in the digital luxury world for both companies.

The transaction officially closed on April 24, 2025 , after receiving all necessary regulatory approvals. Full ownership of YNAP has now been transferred to Mytheresa, which is listed on the New York Stock Exchange NYSE.

As part of the agreement, Richemont received 49.7 million Mytheresa shares, equal to about 33 percent of its fully diluted share capital, along with a net cash payment of 555 million 609.7 million. With the deal complete, YNAP will soon be rebranded as LuxExperience B.V. and begin trading under the new ticker symbol LUXE starting May 1, 2025.

Importantly, the sale was structured without any financial debt attached, and Richemont will no longer have any operational control over YNAP. This move lines up with Richemonts ongoing focus on its core luxury houses, which include names like Cartier and Van Cleef Arpels.

Meanwhile, Mytheresa strengthens its position in the global luxury market, with plans to build on YNAPs existing digital strengths. Johann Rupert voiced strong support for the move, saying, We are confident that Mytheresa will build upon YNAPs strengths, elevating the service offerings for both customers and partners.