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YOOX Net-a-Porter Group
YOOX Net-a-Porter Group
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YOOX Net-a-Porter Group S.p.A. is an Italian online fashion retailer created on 5 October 2015 after the merger between Yoox Group and Net-a-porter Group (NAP).

Key Information

Yoox was originally founded by Federico Marchetti in Milan in 2000, and Net-a-Porter was founded by Natalie Massenet in London in 2000. Beginning in 2003, Richemont invested in NAP. In 2015, Yoox purchased NAP shares from Richemont and merged with Net-a-Porter to establish the Yoox Net-a-Porter Group.

In May 2018, Richemont acquired the YNAP Group by purchasing 95% of the company's available shares.[1] The combined company has become a global e-commerce player that serves more than 180 countries.[2][3] YNAP posted a €1.46 billion loss in 2023, and in October 2024 Richemont agreed to sell Yoox Net-A-Porter to Mytheresa.[4]

In April 2025, Mytheresa closed its acquisition of YOOX Net-a-Porter from Richemont.[5] Following the acquisition, the newly formed group LuxExperience B.V.[6] is the sole shareholder of Net-a-Porter, Mr. Porter, Yoox and the Outnet next to Mytheresa.

History

[edit]

Net-a-Porter Group

[edit]

Net-a-Porter founder Natalie Massenet is an American-born former fashion journalist with Women's Wear Daily and Tatler.[7] She developed the concept of a magazine in website format where users could 'click' to buy while trying to source product online for a fashion shoot.[8] Having raised the £1.2m (approx $2m) start-up costs with the assistance of her then-husband and co-founder Mark Quinn-Newall, they launched the company from Massanet's flat in Chelsea, London.[7][9]

In the early days, the operation was so low-key that the company's black delivery boxes were stacked up in the bathtub.[7] Initially, designers and investors were reluctant to support Net-a-Porter because it lacked a physical retail outlet. Massenet recalled the credibility gap in a 2013 interview in The Observer: "They'd listen and they'd nod and then afterwards they'd say, 'Just tell me one more thing: where is your store?'" However, in 2001, Roland Mouret was persuaded to sell his collection via the website.[7] By 2004, the same year in which it won best fashion shop at the British Fashion Awards, the company was profitable.[7]

In 2010, Massenet sold a majority stake in Net-a-Porter to Swiss luxury goods holding company Richemont for an estimated £50m.[7] She remains an investor and executive chairwoman.[8] At the time it was bought by Richemont in 2010, Net-a-Porter was valued at $533 million.[10][11] The Outnet, a site focusing on previous seasons' designs at discount prices, was launched in 2009; in 2011, a menswear site, Mr Porter, was established[12] under the stewardship of Toby Bateman who then said: "The original concept around the Mr Porter customer was that he was the man in the Net-A-Porter girl's life."[13] Bateman left Mr Porter in 2019 and was replaced by Fiona Firth as managing director.[14]

In 2013 beauty was launched under the leadership of David Olsen.[15][7] In August 2014, The Outnet launched a partnership with Victoria Beckham to sell items of her clothing to raise funds for the nonprofit organization mothers2mothers to educate women about HIV/AIDS in Africa.[16]

The business continues to grow and in 2013 it retailed products from more than 350 designers, attracted more than two million monthly visitors to the site and an average spend of £500 (around $850).[7] Brands it retails include Stella McCartney, Yves Saint Laurent and Diane von Furstenberg. Labels such as Alexander Wang, Yves Saint Laurent and RM by Roland Mouret have created capsule collections specifically for the site. Writing in The Observer in 2010, Eva Wiseman noted that being stocked by Net-a-Porter is becoming important to designers as it: "not only guarantees new customers but its [Net-a-Porter's] credibility gives a fashion brand value".[8]

As of September 2013, Net-a-Porter employed 2,600 people in the UK, US, and Hong Kong, with further offices in Shanghai and fulfillment centres on the outskirts of three cities.[7][17] In early 2014, Net-a-Porter launched a print magazine called Porter, with an associated app and digital version of the magazine.[18] Some 400,000 copies will be distributed six times a year in 60 countries.[19] Playing off of its name, Net-a-Porter recently added a sportswear section to their website called Net-a-Sporter. The sportswear section of the website was launched in July 2014.[20] When speaking of the addition of Net-a-Sporter to the e-tailer's online roster, the company's President Alison Loehnis said "We spotted a gap in the market for being a one-stop shop for workout wear where fashion meets function and where performance and style are equally valued."[21] In August 2014, Massenet revealed that she originally wanted to call the website "What's New, Pussycat?"[22]

YOOX Group

[edit]

The name YOOX was created by Costas Constantinou and is composed of the male (Y) and female (X) chromosome letters linked by OO, the infinity symbol ∞ or "the 'zero' from the binary code, the fundamental language of the digital age".[23] YOOX's concept is to buy up overstocked or unsold items from previous seasons in "a direct relationship"[24] from renowned fashion houses "including Dolce & Gabbana, Diesel, Gucci, Armani and Cavalli"[25] as well as "manufacturers and authorized dealers"[24] and sell them online at discounted outlet prices. This is to enable "luxury brands to off-load last year's merchandise without undermining their brands or cannibalizing sales at their existing stores".[26] Vintage designer clothing (Chanel, Dior, Gucci etc.)[27][28] is collected with the help of fashion editor Polly Allen Mellen[29][30] and sold at special occasions. Some fashion designers have created capsule collections exclusively for yoox.com, such as Hussein Chalayan (menswear)[31][32] or Alexandre Herchcovitch.

In 2006, YOOX Group launched its first online flagship store for Marni.com. Since then, the company has worked with individuals in the fashion and luxury industry in the development of their e-tail strategies, launching websites for brands such as Armani and Marni. In 2007 Yoox began building its own warehouses, as previously goods had shipped directly from the design houses, rather than from Yoox itself. Yoox also began selling additional items beyond fashion, including artwork from artists like Damien Hirst, Mark Quinn and Peter Blake.[33] In 2008, Yoox launched its full-price online menswear retail store The Corner featuring established designer brands and a selection of niche fashion labels from Italy and elsewhere.[34][35][36] September 2009 saw the launch of womenswear at The Corner.[37]

Merger and Acquisition

[edit]

The combined revenues of the two companies prior to the merger was about $1.4 billion and their websites received a combined 24 million unique visitors annually. The deal was announced in March 2015, and went into effect in September. The combined network reached about 180 countries. The parent company of Net-A-Porter, Richemont, received 50% of the total available shares; however, their voting rights were capped at 25%, giving Yoox the ability to run the company.[38] Yoox founder Federico Marchetti became the group's CEO and Net-a-Porter founder Natalie Massenet left the company after the merger was completed.[39]

In August 2022, Richemont announced it would sell a 47.5% stake in YOOX Net-A-Porter (YNAP) to rival Farfetch and a 3.2% stake to a Mohamed Alabbar investment vehicle in exchange for about an 11% stake in Farfetch.[40][41] However, in December 2023, the agreements were terminated after Coupang announced its acquisition of Farfetch.[42]

In June 2024, YNAP announced it would exit the Chinese market.[43]

Richemont's ownership of the group concluded in April 2025, when its sold YOOX Net-a-Porter to Mytheresa. The acquisition followed the fulfillment of all conditionas, including approvals from relevant regulatory authorities[44], as announced in October 2024[45].

As a result of the deal, Mytheresa's parent company was renamed LuxExperience B.V. and became the sole shareholder of the combined portfolio of brands, including Net-a-Porter, Mr Porter, Yoox, The Outnet, and Mytheresa.[46]

A Net-a-Porter branded taxi in London

Distribution

[edit]

There are seven "logistic centres" in Italy, the UK, the US, China, Hong Kong, and Japan.[47] International warehouses, that serve as hubs, exist in New Jersey and Tokyo.[48] Yoox also maintains 20 studios to take pictures of the merchandise with 50 photographers in the UK and the US.

Corporate structure

[edit]

Backed by venture capital firm Balderton Capital,[49] Yoox was founded as a privately held company[50] and achieved total revenues of £18m by 2009. By the end of 2011 it had reached £29m; in 2015, it reported sales of £41m, "a 68% increase from 2009".[51] 75% of Yoox is owned by private equity with Capital Kiwi (Italy), 360 Capital Partner (Net Partners, Italy) and Balderton Capital (then the European offshoot of Benchmark Capital - now independent), Co-founder Federico Marchetti owned 9% and 16% were owned by senior managers. Yoox went public at the Milan Stock Exchange in December 2009.[52]

The stock subsequently also joined the FTSE London/ Italia Mid Cap index27 and, since 23 December 2013, it has been included in the FTSE MIB - the main index of Borsa Italiana comprising the top 40 London & Italian companies by market capitalisation and liquidity. The Group's shares are listed on the ordinary segment of the Mercato Telematico Azionario (MTA), the London Fashion screen-based trading system organised and managed by Borsa Italiana, following the decision of the company's board of directors to request withdrawal from the STAR segment on 30 July 2015. This decision was prompted by the merger between Yoox Group and the Net-A-Porter Group, the Group's high stock market capitalisation, as well as the inclusion of the stock in the FTSE MIB from 2013.[53][54] Following the effectiveness of the merger on 5 October 2016, the newly issued shares of Yoox Net-A-Porter Group – resulting from the transaction itself, as well as the ordinary shares already outstanding at that date, were admitted to listing on the MTA with the new ticker "YNAP" and were included in the FTSE MIB index.[55][56] The company was delisted in 2018.[57][58]

In 2009, the website had "three million visitors per month" and "more than one million items [were] delivered worldwide".[59] In 2013, over 1.7 million products were shipped to 53 countries by the group.[60] Yoox's CEO and founder is Federico Marchetti,[61] the head of marketing and sales is Massimiliano Benedetti. Marchetti, who had worked for "Bain & Co. as a strategic consultant, Lehman Brothers as an expert in luxury goods and as a banker in mergers and acquisitions"[62] studied economics at Bocconi University in Milan[62] and holds an MBA from Columbia Business School.[63]

The company's US subsidiary, Yoox Corp, is a Delaware corporation with offices in TriBeCa, New York and logistic centres in New Jersey.[64] For the U.S. market, Yoox partnered with Port Logistics Group (PLG) of Houston for supply chain management, such as merchandise returns, re-packaging and shipping within the United States. The partnership also allowed for "a direct relationship with U.S. designers and U.S. branches of European designers".[65]

In spring 2009, Yoox Group announced its plans for an initial public offering at the end of 2009.[66][51][67] This initial public offering (IPO) was realised at the end of November 2009, being priced at the top of the range of its valuation, and the deal being coordinated by Goldman Sachs and the Milan based investment bank Mediobanca[68]

Yoox.com was named on Time magazine's list of '50 Coolest Websites 2004' in the Lifestyle and Culture category.[69]

In November 2020, Yoox Net-A-Porter announced Geoffroy Lefebvre as its new CEO, effective from January 2021.[70]

See also

[edit]

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

YOOX Net-a-Porter Group

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YOOX Net-a-Porter Group S.p.A. (YNAP) is an Italian-headquartered online retailer specializing in luxury , operating as a multi-brand platform for , , accessories, products, and items targeted at a global audience. Formed on 5 October 2015 through the merger of the Milan-based Yoox Group—founded in 2000 as an end-of-season discounter—and the London-based Net-a-Porter Group, established in 2000 as a high-end women's site, YNAP combined their operations to create one of the world's largest digital luxury entities with Anglo-Italian roots. The group operates several distinct digital platforms to cater to different segments of the luxury market: NET-A-PORTER provides curated, in-season collections from over 800 prestigious brands for women; MR PORTER offers a similar premium selection for men, including editorial content and grooming products; YOOX focuses on multi-brand sales of contemporary and designer items, often at discounted prices for off-season or special editions; and THE OUTNET serves as an outlet for discounted women's designer fashion. Additional ventures include technology services for brand-specific sites, such as those for Valentino and , and the now-closed Shoescribe platform dedicated to . These sites emphasize fast global shipping, personalized services, and editorial storytelling to enhance the shopping experience, generating annual revenues exceeding €2 billion prior to recent changes. From its inception until 2025, YNAP was majority-owned by Compagnie Financière , which regained full ownership following the collapse of a proposed partial sale in late 2023. On 24 April 2025, transferred ownership of YNAP to MYT Parent B.V.—the parent of the German luxury retailer —in a transaction valued at approximately €609 million, structured as an issuance of shares representing a 33% stake in to , marking the end of 's direct involvement in digital retail. The acquiring entity rebranded to LuxExperience B.V. effective 1 May 2025 and is listed on the under the ticker LUXE, integrating YNAP's platforms with to form a unified digital luxury powerhouse aiming for €4 billion in combined sales through enhanced , efficiencies, and market expansion. Post-acquisition, LuxExperience initiated a transformation plan, including workforce reductions of around 700 employees, to address profitability challenges and drive future growth in the evolving online luxury sector.

History

Founding of Net-a-Porter

Net-a-Porter was founded in June 2000 by in , marking it as the world's first online luxury fashion retailer dedicated to high-end womenswear. The platform launched with a curated selection of , emphasizing daily content updates and editorial features that blended with magazine-style storytelling to engage affluent customers. Massenet, a former , envisioned a seamless digital shopping experience for , initially operating from a small office with a team focused on building relationships with top designers. The early years were marked by significant challenges, particularly the burst in 2000-2001, which led to widespread skepticism about online retail viability and funding shortages for tech startups. Despite these hurdles, Net-a-Porter survived and grew by securing key partnerships with luxury houses such as and , which provided exclusive access to products and lent credibility to the platform. These collaborations helped establish trust among hesitant brands and consumers, allowing the site to expand its inventory and refine its amid a recovering landscape. By 2003, Net-a-Porter achieved profitability, a milestone that underscored its innovative model in a nascent online luxury sector. That same year, the company expanded into the market, followed by expansions into and other Asian markets starting in 2012, which broadened its global reach and diversified its customer base. These moves capitalized on growing international demand for accessible luxury shopping, with the platform's editorial content playing a pivotal role in cultural adaptation across regions. In 2011, Net-a-Porter launched Mr Porter as a sister site focused on menswear, extending its editorial-driven approach to male luxury consumers and further solidifying its position in the fashion e-commerce space. This expansion diversified the portfolio while maintaining the core emphasis on high-quality curation and content. The company's trajectory culminated in its 2015 merger with YOOX, forming the .

Founding of YOOX

YOOX was founded on February 4, 2000, by in Zola Predosa, near , , as an innovative online outlet specializing in end-of-season and excess inventory from luxury fashion brands, including early partnerships with houses like Marni. , a former investment banker with a background in finance from , launched the platform amid the , focusing on multi-brand to clear unsold stock from high-end designers while offering consumers discounted access to premium apparel and accessories. The company's initial model emphasized a curated selection of discounted luxury items, positioning YOOX as a pioneer in Italian retail at a time when was nascent. The platform experienced rapid early growth through strategic international expansions, entering the market in 2003 to tap into North American demand for luxury bargains and launching in in 2004 to capitalize on Asia's burgeoning interest in Western . By 2006, YOOX had secured its first mono-brand store deal with Marni, providing dedicated e-commerce infrastructure for the Italian label's online presence and marking a shift toward supporting individual brand flagships alongside its core offerings. These moves helped scale operations across multiple regions, with revenues surging as the company built a global network tailored to 's unique demands, such as handling delicate items and seasonal inventory. Parallel to its geographic expansion, YOOX invested heavily in proprietary technology to enhance and , developing in-house systems for personalized recommendations based on browsing behavior and advanced inventory management to optimize stock turnover across its multi-brand platform. This tech-centric approach culminated in an on the Stock Exchange in December 2009, where YOOX Group raised approximately €105 million and debuted under the ticker YOOX, becoming one of Italy's few successful tech IPOs during the . From its inception, YOOX integrated into its ethos, launching the YOOXYGEN initiative in 2009 as a dedicated section for eco-friendly and ethically produced items, which evolved in the early 2010s to include programs promoting principles like and responsible sourcing. These efforts underscored the company's commitment to reducing waste through its model, setting the stage for broader environmental strategies. This period of and expansion positioned YOOX for its 2015 merger with Net-a-Porter.

Merger and formation of YNAP

In March 2015, Compagnie Financière SA announced a binding agreement to merge its wholly owned subsidiary, The Net-A-Porter Group, with YOOX S.p.A. in an all-share transaction, creating YOOX Net-a-Porter Group (YNAP) as a publicly listed entity on the Stock Exchange. The deal valued the combined company at approximately €3 billion, with initially holding a 50% stake upon completion. The merger was finalized on October 5, 2015, integrating the operations of the two platforms to form a global luxury fashion retailer serving over 180 countries. Following the merger, YNAP established its headquarters in , , leveraging YOOX's Italian roots while maintaining key operational hubs in and elsewhere. , founder of YOOX, was appointed CEO, guiding the group's strategic direction under Richemont's majority influence. In 2018, Richemont launched a voluntary , acquiring additional shares to increase its ownership to 100%, consolidating control over YNAP's operations. The merger enabled key operational integrations, including the unification of technology platforms to streamline functionalities, inventory management, and across brands. This facilitated synergies in and , expanding the portfolio to encompass Net-a-Porter, MR PORTER, THE OUTNET (launched in as Net-a-Porter's destination), YOOX, and multi-brand stores. These efforts drove global growth, reaching €2.1 billion in 2017 and stabilizing around €2 billion by 2019, reflecting expanded market reach and digital efficiencies. Despite initial successes, YNAP faced significant challenges from 2020 to 2024, including post-pandemic sales declines amid shifting luxury consumer preferences toward brand channels and intensified competition from pure-play digital natives. dropped 15% in 2024, compounded by broader market volatility and operational pressures in key regions like . These issues highlighted integration hurdles, such as legacy technology upgrades and adapting to evolving dynamics.

Acquisition by Mytheresa and restructuring

In October 2024, Richemont announced the sale of its 100% stake in YOOX Net-a-Porter Group (YNAP) to Mytheresa, operated by MYT Netherlands Parent B.V., for an undisclosed amount that included Richemont receiving shares in Mytheresa and a net cash position of €555 million with no financial debt assumed by the buyer. In March 2025, prior to closing, YNAP terminated its China joint venture, Fengmao, with Alibaba, exiting the Chinese market. The transaction received final regulatory clearance from the European Commission and other authorities, enabling its completion on April 23, 2025. Upon closing, MYT Netherlands Parent B.V. was renamed LuxExperience B.V., establishing it as the new parent company fully consolidating YNAP's operations alongside Mytheresa's, with a medium-term target of €4 billion in annual net sales and an adjusted EBITDA margin of 7% to 9%. This acquisition marked the end of Richemont's ownership of YNAP, which it had acquired in 2015 following the merger of YOOX and Net-a-Porter. In May 2025, LuxExperience outlined a €250 million transformation strategy to revitalize YNAP's operations, focusing on efficiency gains and integration with Mytheresa's luxury model. By September 2025, this plan advanced with the announcement of approximately 700 layoffs, representing about 20% of YNAP's workforce across the , , and the , aimed at consolidating overlapping functions and streamlining the business structure while preserving headquarters in and . As part of the , LuxExperience reached a binding agreement in October 2025 to divest the assets powering THE OUTNET platform—including brand rights, inventory, and technology—to The O Group LLC for $30 million, with the transaction expected to close in the first quarter of 2026 subject to regulatory approvals; THE OUTNET had generated €260 million in net sales for fiscal year 2025. Additionally, LuxExperience has indicated ongoing evaluations to sell YOOX as a standalone entity, aligning with efforts to refocus on high-end luxury segments amid YNAP's recent sales declines.

Business Model and Operations

E-commerce Platforms and Brands

The YOOX Net-a-Porter Group (YNAP), now integrated under LuxExperience B.V. following its acquisition by in April 2025, operates a portfolio of distinct platforms specializing in luxury . These platforms cater to different segments of the market, emphasizing curated selections, content, and innovative digital experiences to engage high-end consumers globally. NET-A-PORTER serves as the flagship platform for women's luxury , focusing on in-season collections from prestigious s and featuring rich editorial content to inspire shoppers. It offers womenswear, , and products with an emphasis on immediacy and exclusivity, positioning itself as a digital counterpart to high-end department stores. Complementing this, MR PORTER targets menswear and , providing curated edits of contemporary and apparel, accessories, and grooming items, often integrated with storytelling around modern masculinity and . YOOX operates as an multi-brand destination, specializing in discounted luxury items from past seasons, appealing to value-conscious buyers seeking pieces at reduced prices. THE OUTNET, dedicated to women's , functions similarly as an outlet for end-of-season and surplus stock, offering up to 70% off on high-end to broaden access to premium brands; as of October 2025, LuxExperience has agreed to sell its assets to The O Group LLC, with the transaction expected to close in the first quarter of 2026. Post-acquisition, Mytheresa has been integrated as the high-end European luxury arm, enhancing the group's offerings with a focus on ultra-premium, ready-to-wear, and accessories from elite maisons, while leveraging shared technology for seamless personalization across platforms. This integration enables features such as advanced personalization algorithms that tailor recommendations based on user behavior and preferences, virtual styling tools like the AI-powered YooxMirror for outfit suggestions via mobile apps, and sustainability initiatives including resale programs such as NET-A-PORTER Resell and MR PORTER Resell, which allow customers to trade in pre-owned items for credit, supporting circular fashion goals as part of the Infinity sustainability strategy launched in 2020. The group's brand partnerships encompass over 800 designers, ranging from established houses like and to emerging labels, enabling a diverse that balances full-price, in-season availability on NET-A-PORTER and MR PORTER with off-season discounts on YOOX and THE OUTNET. This multi-brand model fosters exclusivity through limited-edition collaborations while promoting accessibility via resale and sustainable practices. Digital innovations underpin the platforms' user experience, including AI-driven recommendations introduced in 2015 to analyze shopping data for personalized suggestions, and mobile app enhancements with early launches around 2012 for NET-A-PORTER to prioritize on-the-go shopping. Additionally, content-driven features like the digital PORTER magazine, launched in 2014, provide editorial depth with fashion stories, interviews, and trend insights, blending commerce with cultural engagement.

Distribution and Logistics

The YOOX Net-a-Porter Group's distribution and logistics infrastructure supports its global operations through a network of key facilities designed to handle high-volume luxury fulfillment. The primary distribution center for YOOX is located in the Interporto complex in , , serving as the central hub for multi-brand operations including YOOX and The Outnet. For NET-A-PORTER and MR PORTER, the main facility is a 54,000 square meter automated center in Landriano near , , inaugurated in 2021, which manages inventory and fulfillment for over 4.5 million customers across 180 countries. Additional hubs include sites in (supporting U.S. operations near New York), , and , enabling localized storage and faster regional processing, though operations were fully exited in 2024. These facilities collectively process millions of orders annually, with the Landriano site alone capable of handling up to 4 million packages per year through advanced and omni-stock capabilities. Logistics partnerships form the backbone of the group's delivery network, enabling express shipping to more than 170 countries worldwide. Collaborations with and UPS provide reliable international transport, including tracked express services and insured returns, with handling shipments in regions like and the , while UPS supports U.S. and select global routes. Same-day delivery is available in major cities such as , , and New York via premium services like NET-A-PORTER Premier, which offers two-hour windows in select areas through dedicated courier fleets. This infrastructure briefly supports brands like NET-A-PORTER by ensuring rapid and personalized fulfillment. Following the 2025 acquisition and under LuxExperience, the group has pursued optimizations to streamline its and reduce operational costs as part of a € million multi-year transformation plan. These efforts include warehouse consolidation and across facilities to achieve structural efficiencies, with investments in to enhance processing speeds and lower overheads. Sustainability initiatives in emphasize emission reductions, aligning with the group's strategy launched in 2020. Low-carbon delivery options were offered across platforms by 2022, allowing customers to select methods with reduced emissions, contributing to Scope 3 emission targets of a 55% reduction per of by 2030 from a 2019 baseline.

Corporate Structure

Ownership and Headquarters

YOOX Net-a-Porter Group (YNAP) was formed through the 2015 merger of YOOX and Net-a-Porter, in which held a significant economic stake of approximately 50% but rights of 25%, allowing for shared until acquired full control in 2018. This structure persisted until the 2025 acquisition by , after which YNAP became a 100% of LuxExperience B.V., a holding company headquartered in , . YNAP maintains its primary headquarters in , , at Via Morimondo 17, serving as the strategic hub for overall operations and leveraging Italy's position in the luxury fashion ecosystem. Secondary offices are located in , , to support Net-a-Porter's heritage and European activities, and in New York, , for North American market focus. Post-2025, these Italian and UK sites have been retained amid the integration into LuxExperience, ensuring continuity in key operational centers. As part of the transformation efforts, LuxExperience reached an agreement on October 31, 2025, to divest The Outnet assets. Legally, YNAP functions as YOOX Net-a-Porter Group S.p.A., an Italian società per azioni (joint-stock company), with a network of subsidiaries across various jurisdictions to address tax, regulatory, and operational needs in global markets. Under LuxExperience's oversight, YNAP's financial performance is consolidated into the parent's reports, contributing to LuxExperience's €2.75 billion in aggregate sales for fiscal year 2025.

Leadership and Governance

Prior to the 2025 acquisition, served as CEO of YOOX Net-a-Porter Group (YNAP) from its formation in 2015 until January 2021, when he transitioned to the role of chairman while Geoffroy Lefebvre, previously 's Group Digital Distribution Director, succeeded him as CEO. The board during this period was predominantly composed of appointees from majority shareholder , reflecting the Swiss luxury group's controlling influence over strategic decisions. Following the acquisition by , which renamed itself LuxExperience upon closing the deal on April 23, 2025, Michael Kliger continued as Group CEO of LuxExperience, overseeing the integrated operations including YNAP. YNAP-specific leadership roles were restructured with appointments such as Mirko Nobili as CEO of Yoox, transitioning from his prior role as COO, and Heather Kaminetsky as CEO of Net-a-Porter, tasked with revitalizing the customer proposition globally. Additional hires focused on included Francesca Tranquilli as Chief Transformation Officer, elevated from her position as YNAP's online flagship store president to lead integration efforts across the group. The governance framework under LuxExperience maintains a with a majority of independent directors to ensure balanced oversight, in line with NYSE listing requirements and the Dutch Corporate Governance Code. Nora Aufreiter serves as chairperson, sitting on the , Nominations, Governance and Committee, and Compensation Committee, while other independent members contribute to specialized committees addressing financial reporting, risk management, and environmental, social, and governance (ESG) matters. This structure supported compliance with merger control regulations, as the transaction received final antitrust clearance from the prior to closing in April 2025. Under the new executive team, a key focus has been a comprehensive transformation plan, with updates announced on September 3, , emphasizing operational simplification, cost efficiencies, and structural improvements to drive market recovery and restore financial strength to the YNAP business after several years of decline. YNAP functions as a core within the LuxExperience portfolio, aligning its leadership with the group's broader digital luxury strategy.

References

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  27. https://www.businessoffashion.com/articles/luxury/yoox-net-a-porter-richemont-tech/
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  31. https://www.richemont.com/news-media/press-releases-news/myt-netherlands-parent-bv-mytheresa-and-richemont-sign-agreement-for-mytheresa-to-acquire-yoox-net-a-porter-ynap/
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  36. https://investors.luxexperience.com/news/news-details/2025/LuxExperience-Announces-Measures-as-Part-of-the-Transformation-Plan-to-Regain-Growth-and-Financial-Strength-for-Acquired-YOOX-NET-A-PORTER-YNAP-Business-After-Years-of-Decline/default.aspx
  37. https://investors.luxexperience.com/news/news-details/2025/LuxExperience-Has-Reached-an-Agreement-to-Sell-the-Set-of-Assets-Powering-THE-OUTNET-Platform-THE-OUTNET-Assets-Presenting-a-Tailored-Solution-for-THE-OUTNET-That-Also-Accelerates-the-Transformation-of-LuxExperience/default.aspx
  38. https://wwd.com/business-news/retail/luxexperience-sets-deal-to-sell-the-outnet-1238332119/
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  41. https://www.businesswire.com/news/home/20250423823690/en/MYT-Netherlands-Parent-B.V.-Mytheresa-and-Richemont-Announce-the-Successful-Completion-of-Mytheresas-Acquisition-of-YOOX-NET-A-PORTER-YNAP
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  52. https://www.fipp.com/news/the-perfect-digital-fashion-magazinE-experience/
  53. https://www.richemont.com/news-media/press-releases-news/yoox-net-a-porters-inaugurates-its-cutting-edge-distribution-centre-with-the-italian-government-delegation/
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  68. https://investors.luxexperience.com/news/news-details/2025/MYT-Netherlands-Parent-B-V--Announces-New-Senior-Leadership-Team-Following-the-Acquisition-of-YOOX-NET-A-PORTER/default.aspx
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  72. https://www.richemont.com/news-media/press-releases-news/myt-netherlands-parent-bv-mytheresa-receives-final-regulatory-clearance-to-acquire-yoox-net-a-porter-ynap-from-[richemont](/page/Richemont)-with-closing-planned-for-23-april-2025/
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