Core Viewpoint - Mytheresa has received final regulatory clearance to acquire YOOX NET-A-PORTER from Richemont, with the transaction expected to close on April 23, 2025 [1][5]. Group 1: Acquisition Details - Mytheresa signed binding agreements on October 7, 2024, to acquire 100% of YNAP's share capital from Richemont, aiming to create a leading global multi-brand digital luxury group [2]. - The combined entity will operate under the name "LuxExperience B.V." and will include brands such as Mytheresa, NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET [2][4]. - At closing, Mytheresa will issue new shares to Richemont representing 33% of Mytheresa's fully diluted share capital, and Richemont will sell YNAP with a cash position of €555 million and no financial debt [3]. Group 2: Financial Projections and Goals - The acquisition aligns with Mytheresa's ambition to build a leading online luxury group with an estimated Gross Merchandise Value (GMV) of around €3 billion per annum [3]. - The medium-term goal for LuxExperience is to grow to a €4 billion GMV per annum business with an adjusted EBITDA margin exceeding 8% [3]. - The restructuring of YNAP is expected to take 24 to 36 months, with Mytheresa well-funded for this transformation due to a net cash position of €555 million at closing [3]. Group 3: Operational Strategy - Mytheresa, NET-A-PORTER, and MR PORTER will maintain their distinct brand identities while sharing central infrastructure resources [4]. - The off-price division, consisting of YOOX and THE OUTNET, will be separated from the luxury division to create a more efficient operating model [4].

Core Viewpoint - Mytheresa has received final regulatory clearance to acquire YOOX NET-A-PORTER (YNAP) from Richemont, with the transaction expected to close on April 23, 2025, marking a significant step towards creating a leading global multi-brand digital luxury group [1][2][5]. Group 1: Acquisition Details - Mytheresa signed binding agreements on October 7, 2024, to acquire 100% of YNAP's share capital from Richemont, aiming to establish a prominent digital luxury platform under the name "LuxExperience B.V." [2][5]. - The combined entity will include brands such as Mytheresa, NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET, offering a curated selection of luxury brands to customers [2][4]. Group 2: Financial Projections and Strategy - Mytheresa aims to achieve a Gross Merchandise Value (GMV) of approximately €3 billion annually post-acquisition, with a medium-term goal of reaching €4 billion GMV and an adjusted EBITDA margin exceeding 8% [3][5]. - The acquisition is expected to initially dilute Mytheresa's EBITDA margin, but the company is prepared for a transformation to return YNAP to profitability within 24 to 36 months, supported by a net cash position of €555 million at closing [3][5]. Group 3: Leadership and Governance - Upon closing, Mytheresa will issue new shares to Richemont, representing 33% of Mytheresa's fully diluted share capital, and Richemont will provide a €100 million revolving credit facility to YNAP [3][5]. - Burkhart Grund, CFO of Richemont, will join Mytheresa's Supervisory Board as a new member following the transaction [3]. Group 4: Operational Structure - Mytheresa, NET-A-PORTER, and MR PORTER will maintain their distinct brand identities while sharing central infrastructure resources, while YOOX and THE OUTNET will operate separately from the luxury division for improved efficiency [4].