🚀 Big Rebrand Move
Mytheresa is going for a name change. The Munich-based luxury retailer will soon be called LuxExperience. The switch follows its October 2024 acquisition of Yoox Net-a-Porter (YNAP). The company plans to adopt its new identity in March, pending shareholder approval.
💰 The Deal & Stakes
Richemont, the former owner of YNAP, gets 33% of Mytheresa in the deal. The rebrand is part of Mytheresa’s plan to build a global luxury marketplace. The new stock ticker, “LUXE,” will replace “MYTE” on the NYSE once the transition is finalized in mid-2025.
👔 Leadership Shake-up
Burkhart Grund, CFO of Richemont, has been nominated for Mytheresa’s board. His election is set for March 6, 2025. If approved, he will take his seat after the deal closes, expanding the board from seven to eight members.
📅 What’s Next?
The deal still needs regulatory approval. If all goes smoothly, LuxExperience will officially launch in 2025. CEO Michael Kliger says the new name represents their vision for a digital-first luxury empire.
Will Mytheresa’s rebrand as LuxExperience shake up luxury retail?
