Mytheresa is planning to rename its parent company, MYT Netherlands Parent B.V., to LuxExperience once its deal to acquire its luxury e-commerce rival Yoox-Net-a-Porter closes in the first half of the year. The company’s flagship site, Mytheresa, will keep its name.
The German luxury e-tailer, which announced its plans to acquire YNAP from Richemont last October, will present the name change to its shareholders for approval on March 6.
The proposed name change of the parent company is one signal of Mytheresa’s broader ambitions to become a luxury e-commerce giant. The company managed to grow profitably amid a luxury slowdown by focusing on its top spending clients, but it’s still smaller than some of its peers. In 2023, Mytheresa generated €914 million ($961 million), while YNAP generated €2.5 billion. Mytheresa expects its combined company with YNAP to reach €4 billion by 2029.
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