Richemont: signs agreement with Mytheresa for YNAP

(CercleFinance.com) - Mytheresa and Richemont announce that they have entered into binding agreements for the acquisition of 100% of the share capital of YNAP by Mytheresa.


Mytheresa will issue shares to Richemont representing 33% of Mytheresa's fully diluted share capital.

The transaction aims to create a leading global multi-brand digital luxury group, offering a highly organized and highly differentiated selection of the most prestigious luxury brands and products to luxury enthusiasts worldwide, the group says.

In the medium term, Mytheresa's vision for the combined group involves in particular the integration of YNAP's Luxury division into Mytheresa, to form a group with three distinct boutiques: MYTHERESA, NET-A-PORTER and MR PORTER.

Richemont management said that, as a trusted partner to many of the world's leading luxury brands, YNAP is renowned for its innovative high-end customer services, complemented by its distinctive and inspiring editorial voice. Mytheresa is ideally placed to build on YNAP's strengths to further delight customers and brand partners around the world by leveraging the respective strengths of both companies.


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