Johann Rupert's Richemont Supports Ynap With 114 Million Loan

Richemont granted YNAP a 114 million credit facility to support digital growth ahead of its integration into Mytheresas luxury e-commerce platform.

The deal follows European Union approval of Mytheresas acquisition of YNAP and aims to create a multi-brand digital luxury group under the new LuxExperience umbrella.

Richemonts CFO will join Mytheresas board, strengthening ties, while YOOX and THE OUTNET will form a separate division to sharpen the groups luxury focus.

Richemont, the Swiss luxury conglomerate led by South African billionaire Johann Rupert, has extended a 114 million revolving credit facility to YOOX NET-A-PORTER YNAP to fuel digital luxury expansion. The financing, structured over a six-year term, underscores Richemonts commitment to strengthening YNAPs operational stability as it prepares for integration into Mytheresas expanding luxury e-commerce portfolio.

This strategic move on the six-year revolving credit facility follows the receipt of unconditional merger control clearance from the European Commission for Mytheresas acquisition of 100 percent of YNAPs share capital from Richemont, a transaction aimed at creating a powerhouse multi-brand digital luxury group under the newly named LuxExperience B.V.

As part of the deal , Richemont CFO Burkhart Grund will join Mytheresas Supervisory Board, reinforcing the alliance between the two luxury leaders. The arrangement will see Mytheresa, NET-A-PORTER, and MR PORTER maintain distinct brand identities while leveraging shared back-end infrastructure, positioning LuxExperience to deliver curated offerings on a global scale.

Simultaneously, YOOX and THE OUTNET YNAPs off-price platforms will be spun into a separate division designed to streamline operations and sharpen the groups luxury focus.

Johann Rupert, Chairman of Richemont, echoed confidence in the future of LuxExperience, stating the six-year revolving credit facility will unlock new value for luxury consumers, brand partners, and shareholders through broader reach and operational synergies.