Mytheresa to adopt new name after YNAP deal

models wear luxury dresses from Mytheresa
Mytheresa will rename to LuxExperience. (Source: Mytheresa/Facebook)

MYT Netherlands Parent BV (Mytheresa) will rename to LuxExperience following the acquisition of Yoox Net-A-Porter (YNAP).

The company said the new name reflects its ambition to build a global multi-brand digital luxury group that “creates communities for true luxury enthusiasts and desirability through unique digital and physical experiences”.  

The company will continue to be listed on the New York Stock Exchange with the trade name “LuxExperience” and a new ticker symbol of “LUXE”. 

The renaming will be presented for approval by shareholders at an extraordinary general meeting on March 6.

“The newly formed group will present one of the most exciting opportunities for investors worldwide to participate in the huge market opportunity in digital, multi-brand luxury shopping,” remarked Michael Kliger, CEO of Mytheresa.

Last October, Mytheresa announced its acquisition of YNAP from luxury conglomerate Richemont for $609 million. In return, Mytheresa will issue shares to Richemont, representing 33 per cent of its fully diluted share capital.

The transaction is expected to close in the first half of this year.

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