YNAP news and archive

Net-a-Porter to cease activities in China by March 20

Online fashion retailer Net-a-Porter has set its deadline for its withdrawal from China. The company published a statement on its Chinese website stating that sales activities in the country via the online shop, local app and other digital platforms will be discontinued on March 20. Following that, "after-sales services" such as returns and...

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Mytheresa: Holding to operate as LuxExperience following YNAP acquisition

The holding company of munich-based fashion retailer Mytheresa will operate under a new name following the takeover of Yoox Net-a-Porter (YNAP). MYT Netherlands Parent BV is currently preparing to rename the company as LuxExperience BV, the firm announced on Monday. Subject to shareholder approval in March, the company will be called...

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Mytheresa nominates Richemont CFO Burkhart Grund to supervisory board

Mytheresa has announced the appointment of Burkhart Grund, chief financial officer of Richemont, as a new supervisory board member, following the completion of its acquisition of YNAP. “We are pleased to welcome Burkhart Grund, a highly experienced financial expert, to our board,” said Nora Aufreiter, chair of the supervisory board of Mytheresa....

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Asos, Boozt and Selfridges join YNAP and Zalando’s Fashion Leap for Climate

Yoox Net-A-Porter (YNAP) has announced a number of new members joining its Fashion Leap for Climate, an educational initiative launched in 2022 alongside About You and Zalando designed as a response to the fashion industry’s climate challenge. British e-tailer Asos, Swedish footwear retailer Boozt and the Selfridges Group, the parent company to...

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Mytheresa closes the deal to acquire YNAP from Richemont

Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...

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Is Mytheresa set to acquire YNAP?

After what has been a long and, seemingly, tedious sales process, Swiss luxury giant Richemont may have finally found a buyer for its loss-making e-commerce platform Yoox Net-a-Porter (YNAP). It has been reported that German luxury e-tailer Mytheresa is close to snapping up what had been its online rival after formerly interested parties, Bain...

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Yoox Net-a-Porter to reportedly shutter China operations

Luxury fashion e-tailer Yoox Net-a-Porter (YNAP) is believed to be in the process of closing up shop in China as it looks to put more emphasis on markets it deems more profitable. The decision was confirmed by a spokesperson for the retailer’s parent company Richemont, who told the Financial Times that the move came as part of a wider global...

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YNAP and The King’s Foundation launch third edition of emerging talent initiative

Yoox Net-a-Porter (YNAP) has once again partnered with The King’s Foundation – formerly the Prince’s Foundation – for the duo’s emerging talent initiative, The Modern Artisan. Now in its third edition, the project has once again selected six trainees to participate in a nine-month paid training programme that will come to a head in the form of a...

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Farfetch could offload Browns as it seeks to raise cash

When Farfetch acquired the London boutique business of Browns in 2015, it marked the onset of a new era for retail, illustrating how digital and physical stores could seamlessly integrate. This move, where a digital platform acquired a high-end fashion business, was a novel proposition, lending Farfetch both gravitas and the potential to be an...

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Farfetch faces turbulence, postpones quarterly report as privatisation rumours emerge

Farfetch, the e-commerce platform founded by José Neves, has decided to postpone its quarterly report and related conference call with analysts. This move comes amid a challenging period for the company, marked by a significant decline in market capitalization from 26 billion dollars in 2021 to 740 million dollars. As has been well publicized,...

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Farfetch mulls going private, Richemont to review YNAP deal

Luxury e-commerce giant Farfetch is reportedly mulling a potential offer that would delist the company and take it private, as pressure on stock remains persistent. Such a move is speculated to happen very soon, according to The Telegraph which initially reported the news. While Farfetch had declined to comment on the report, the company later...

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What does the future have in store for Farfetch?

Farfetch’s future, following the finalisation of its agreement with Richemont in regards to the acquisition of Yoox Net-a-porter (YNAP), has concerned the market. Will José Neves, founder of Farfetch, be able to bounce back? The Richemont group can breathe easy. The green light given to the deal at the end of October by the European Commission's...