LuxExperience BV, the multi-brand digital luxury group that includes Mytheresa, has agreed to sell website The Outnet to The O Group LLC for $30 million.
The Outnet sells luxury fashion from previous seasons at a discounted price. It generated net sales of 260 million euros in fiscal 2025, the company indicated.
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The O Group is purchasing from LuxExperience all the assets needed to power The Outnet, including brand rights, customer data, inventory and the US distribution centre, and is also taking control of The Outnet’s US and UK workforce. The $30 million purchase price is subject to adjustment based on inventory levels at closing.
LuxExperience will continue its business relationship with The Outnet after closing the deal, meaning it will provide merchandise. LuxExperience will also provide certain operational and IT services, at cost, for a certain period after closing. Closing is expected to occur during the first quarter of 2026, subject to certain conditions, including customary regulatory approvals and payment of the purchase price.
LuxExperience is considered the leading digital multi-brand luxury group selling men’s and women’s clothing, children’s clothing, fine jewelry, watches and lifestyle products. The company’s luxury e-commerce websites are Mytheresa, Net-a-porter and Mr Porter. Yoox and The Outnet comprise LuxExperience’s discount segment. LuxExperience is listed on the New York Stock Exchange and operates in key markets around the world.
“We are very pleased to have found the optimal solution for both The Outnet and our group,” Michael Kliger, CEO of LuxExperience, said in a statement Friday when the deal was revealed.
“The transaction will allow The Outnet to reach its full potential under a renewed and independent business model,” Kliger added. “LuxExperience will fully focus its off-price resources on creating the efficient operating model necessary for Yoox in order to regain growth and financial strength. In addition, it will also enable us to accelerate the overall transformation plan regarding an efficient infrastructure platform for Net-a-porter and Mr Porter.”
The company, in its official statement, said: “The divestment of The Outnet assets is a strategic step in line with LuxExperience’s transformation plan announced in May 2025 which includes the simplification of its operating model by reducing complexity and aims to enable the leading digital multi-brand luxury group to fully focus its off-price resources on regaining the growth and financial strength of its Yoox business. In addition, it is also expected to allow LuxExperience to accelerate the overall transformation plan in the regarding an efficient infrastructure platform for Net-a-porter and Mr. Porter.
LuxExperience, previously known simply as Mytheresa, closed its deal to acquire Yoox Net-a-porter from Compagnie Financière Richemont last April. LuxExperience acquired together with Yoox Net-a-porter 555 million euros and a 100 million euro loan from Richemont in exchange for a 33 percent stake in the company.
LuxExperience last month reported impressive results for its fiscal fourth quarter, beating analyst expectations, including earnings per share of €4.67 and revenue of €587.8 million. LuxExperience will release financial results for its first quarter of fiscal 2026 before the US market opens on November 19.
Shareholders of The O Group LLC include Joseph Edery and Ritesh Punjabi, CEO of Timeless Group of Companies. The two people are considered “experts” in luxury fashion, LuxExperience said in its statement. The O Group helps brands get rid of excess or unsold inventory through discounts. Timeless Group of Companies is a retail/distribution company.
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