UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2025
Commission File Number: 001-39880
MYT
NETHERLANDS PARENT B.V.
(Exact Name of Registrant as Specified in its Charter)
Einsteinring
9
85609 Aschheim/Munich
Germany
+49 89 127695-614
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
On 7 October 2024, MYT Netherlands Parent B.V. (“Mytheresa) announced that Mytheresa (NYSE: MYTE) and Richemont Italia Holding S.P.A. (“Richemont”) (SWX: CFR) have entered into binding agreements for the acquisition of 100% of the share capital of Yoox Net-a-Porter (“YNAP”) by Mytheresa, subject to certain conditions, including antitrust regulatory approvals.
On 11 April 2025, Mytheresa received the unconditional merger control clearance from the European Commission for the acquisition of YNAP from Richemont. The acquisition is expected to close on 23 April 2025.
On 11 April 2025, Mytheresa also announced the expected leadership team for the combined company upon closing of the acquisition.
A copy of the press releases are attached as Exhibits 99.1 and 99.2 to this report. The information in this Form 6-K, including Exhibits 99.1 and 99.2, furnished in this report is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Registration statements or other documents filed with the SEC shall not incorporate this information by reference, except as otherwise expressly stated in such filing.
| Exhibit No. | Description |
| 99.1 | Regulatory Approval Press Release dated 11 April 2025 |
| 99.2 | Leadership Team Press Release dated 11 April 2025 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MYT Netherlands Parent B.V. | ||
| By: | /s/ Martin Beer | |
| Name: | Dr. Martin Beer | |
| Title: | Chief Financial Officer | |
Date: April 11, 2025
Exhibit 99.1

MYT Netherlands Parent B.V. (“Mytheresa”) receives final regulatory clearance
to acquire YOOX NET-A-PORTER (“YNAP”) from Richemont, with closing planned for 23 April 2025
11 April 2025 – Today, Mytheresa (NYSE:MYTE) received the unconditional merger control clearance from the European Commission for the acquisition of YNAP from Richemont (SWX:CFR), through its subsidiary Richemont Italia Holding S.P.A.. Mytheresa and Richemont have now received all other necessary approvals from regulatory authorities and plan to close the transaction on 23 April 2025.
On 7 October 2024, Mytheresa and Richemont signed binding agreements for the acquisition by Mytheresa of 100% of the share capital of YNAP from Richemont, aiming to build a leading global multi-brand digital luxury group. The receipt of all necessary regulatory approvals is the final step for the completion of the transaction. Under the umbrella of “LuxExperience B.V.”, which the combined company will be named following the acquisition, the brands Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will offer highly curated and strongly differentiated selections of the most prestigious brands for luxury customers with unprecedented reach and relevance.
Michael Kliger, Chief Executive Officer of Mytheresa, said, “We are truly excited to have received all required regulatory clearances to finalize the acquisition of YOOX NET-A-PORTER. We will become one of the leading global, digital luxury platforms for true luxury enthusiasts through having multiple, highly distinguished storefronts, all under the umbrella of LuxExperience. We will generate significant synergies by using a joint back-of-house platform, but most importantly because we will have one of the most relevant overall value propositions for global luxury shoppers and brands. Today marks a significant milestone in our success story as we enter a new and exciting phase for both Mytheresa and all YNAP brands, which is expected to create significant value for our customers, brand partners and shareholders.”
Martin Beer, Chief Financial Officer of Mytheresa, added: “The acquisition of YNAP fulfills Mytheresa´s ambition to build a leading online luxury group worth around 3 billion Euros GMV per annum. In the medium term, our goal for LuxExperience will be to grow to a 4 billion Euros GMV per annum business with >8% Adj. EBITDA margin. While the consolidation of YNAP will initially dilute our EBITDA margin at group level we are uniquely prepared to achieve a fundamental transformation and return the YNAP businesses to profitability. The restructuring is expected to take 24 to 36 months and is well funded with a net cash position of 555 million Euros at closing. We will fully leverage Mytheresa’s operational excellence, proprietary technology and proven ability to execute large-scale projects.”
Johann Rupert, Chairman of Richemont, said: “We look forward to LuxExperience’s future success, as the receipt of this clearance paves the way for both the Mytheresa and YNAP teams, their brand partners and customers alike to fully benefit from the enhanced value propositions and expanded global reach offered by the combined businesses.”
At transaction closing, Mytheresa will issue new shares to Richemont representing 33% of Mytheresa’s fully diluted share capital after issuance of the consideration shares. At the same time, Richemont will sell YNAP with a cash position of €555m and no financial debt to Mytheresa, which will become YNAP’s sole shareholder. Richemont will also provide a 6-year €100m revolving credit facility to YNAP. Upon transaction closing, Burkhart Grund, Chief Financial Officer of Richemont, will join Mytheresa Supervisory Board as new Board member.
Mytheresa, NET-A-PORTER and MR PORTER will continue to offer differentiated, but complementary, multi-brand offering for luxury customers. The three individual store brands will maintain their own brand’s identities while sharing central infrastructure resources jointly. At the same time, the off-price division, consisting of YOOX and THE OUTNET, will be separated from the luxury division for a much simpler and more efficient operating model.
With regulatory clearance received, Mytheresa and Richemont will now move forward with the final steps required to complete the transaction. A further announcement will be made at transaction closing. Further details on integration plans will be shared in due course.
Forward looking statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the proposed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination or abandonment of the proposed transaction; the expected timing and likelihood of completion of the proposed transaction with Richemont; the risk that the remaining conditions to closing the proposed transaction may not be satisfied in a timely manner or at all; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalated after the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adversely impact consumer demand; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.
Mytheresa undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.
You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.
Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.
About non-IFRS financial measures and operating metrics
Adjusted EBITDA margin is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude Other transaction-related, certain legal and other expenses and Share-based compensation expense. Adjusted EBITDA Margin is a non-IFRS financial measure which is calculated in relation to net sales.
We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.
Gross Merchandise Value (GMV) is an operative measure and means the total Euro value of orders processed, either as principal or as agent. GMV is inclusive of merchandise value, shipping and duty. It is net of returns, value added taxes, applicable sales taxes and cancellations. GMV does not represent revenue earned by us. We use GMV as an indicator for the usage of our platform that is not influenced by the mix of direct sales and commission sales. The indicators we use to monitor usage of our platform include, among others, active customers, total orders shipped and GMV.
About Mytheresa
Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23). For more information, please visit https://investors.mytheresa.com/.
“LuxExperience” will be the trade name for LuxExperience B.V. a Dutch company with limited liability, upon completion of the renaming of MYT Netherlands Parent B.V.
About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division. Find out more at https://www.richemont.com/.
Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange (JSE), Richemont’s secondary listing.
About YOOX NET-A-PORTER (YNAP)
YNAP is a world leading online luxury and fashion retailer, with a distinctive offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET.
Uniquely positioned in the high growth online luxury sector, YNAP has a client base of c.4 million high-spending customers and over 900 million visitors worldwide. The Group has offices and operations in the United States, Europe, Middle East, Japan, mainland China and Hong Kong SAR, China. It delivers to over 170 countries around the world.
|
Mytheresa.com GmbH Stefanie Muenz phone: +49 89 127695-1919 email: investors@mytheresa.com |
|
|
Media Contacts for public relations Mytheresa.com GmbH Sandra Romano mobile: +49 152 54725178 email: sandra.romano@mytheresa.com
Media Contacts for business press Mytheresa.com GmbH Lisa Schulz mobile: +49 151 11216490 email: lisa.schulz@mytheresa.com |
Media Contacts for business press BOC Consult GmbH Ruediger Assion mobile: +49 176 2424 7691 email: ruediger.assion@boc-consult.com |
Richemont Contacts
Investor / analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com
Source: MYT Netherlands Parent B.V.
Exhibit 99.2
MYT NETHERLANDS PARENT B.V. ANNOUNCES NEW SENIOR LEADERSHIP TEAM FOLLOWING THE ACQUISITION OF YOOX NET-A-PORTER
MUNICH (April 11, 2025) - MYT Netherlands Parent B.V. (the "Company") announces a new senior leadership team for the combined group effective upon closing of the acquisition of YOOX NET-A-PORTER. The new leadership team has been nominated to drive and create the leading, luxury multi-brand digital group for true luxury enthusiasts around the globe. The new group will encompass some of the most iconic and loved store brands in the world: NET-A-PORTER, MR PORTER, YOOX, THE OUTNET and Mytheresa. To further strengthen the unique and differentiated identities of each store brand separate, dedicated management teams are put in charge to deliver the best curated brand offerings, to create highly engaging inspiration and develop lasting customer relationships. At the group level functions will be consolidated into a shared group-level infrastructure that will deliver best-in-class and efficient services for the multi-brand luxury business across technology, operations, customer data analytics and corporate functions. A newly established, transformation function at group level will steer the group-wide transformation. The structure and the selection of the new management team mirrors the customer-focused strategy of the combined companies. Shortly after closing, the Company intends to rename MYT Netherlands Parent B.V. as “LuxExperience B.V.”
This announcement follows the Company's receipt of unconditional merger control clearance from the European Commission for the acquisition of YOOX NET-A-PORTER. The new leadership team will take effect upon the planned completion of the acquisition set for April 23, 2025.
Michael Kliger, CEO of the Company, said: “We have selected our future management team at store brand and group level to bring together the most experienced and capable leaders for each role. All these outstanding leaders share a passion for customers, the willingness to drive change and a deep understanding of their business areas. This thoughtfully selected team draws on Mytheresa's established management strengths, the experience of strong leaders from the YNAP organization, and is further enhanced by highly accomplished external hires.”
Kliger continued: “The strong store brand management teams for Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will create individual brand identities and a differentiated, yet complementary, multi-brand luxury offering for customers. At the group level, the new established leadership team will strategically focus on efficiency and thus boost the profitability of the store brands. The team's shared goal is to deliver an exceptional luxury experience for our customers and to increase the profitability of the group. I am excited and confident that, with our passion and expertise, we will rapidly improve all businesses and achieve our financial goals in the expected timeframe. Finally, I would like to thank all colleagues who have made the success of our brands possible to date with their passion and great commitment. My thanks also go to those who will continue their careers outside our united group.”
The new senior leadership team:
Michael Kliger, Chief Executive Officer and Managing Director: Michael Kliger is the driving force behind the formation of the new group. He will continue to lead the group´s overall strategy and operations as Group CEO. Under his leadership Mytheresa has transformed in the last 10 years into one of the world's leading luxury multi-brand digital platforms and successfully completed its listing on the New York Stock Exchange (NYSE) in 2021. As a visionary leader, Michael has played a pivotal role assembling and empowering a highly effective leadership team that has driven Mytheresa’s success and will drive now the success story of the group going forward.
Martin Beer, Chief Financial Officer and Managing Director: Martin Beer, Mytheresa's current CFO, will be appointed as Group CFO, overseeing all finance functions, investor relations, risk management and legal. Since 2019, he has served as Chief Financial Officer of Mytheresa and has demonstrated deep knowledge of both the capital markets and the luxury e-commerce sector. Martin's ability to navigate complex financial and economic environments in the past years resulted in Mytheresa´s continued growth and solid financial position. Martin successfully led Mytheresa’s IPO in 2021 and now the acquisition of YOOX NET-A-PORTER.
Philipp Barthold, Chief Technology Officer: Philipp Barthold, Mytheresa's current CTO, will be appointed as Group CTO, taking responsibility for the continued enhancement of Mytheresa’s technology platform and overseeing the migration of NET-A-PORTER and MR PORTER onto Mytheresa’s advanced tech stack. Additionally, he will lead the Group’s Fraud Prevention initiatives. Philipp brings extensive technology expertise and strategic leadership, having significantly contributed to Mytheresa's technological advancements, cybersecurity, and infrastructure development over the past nine years. Most notably, he successfully managed Mytheresa’s comprehensive tech stack migration, completed in 2023, demonstrating his capability in driving complex, large-scale technology projects.
Sebastian Dietzmann, Chief Operating Officer: Sebastian Dietzmann, Mytheresa's current COO, will be appointed as Group COO and will be responsible for customer care, studio production, and all warehouse operations. Sebastian joined Mytheresa as Chief Operating Officer in 2015. His operational proficiency has been central in propelling Mytheresa's growth and success in the competitive luxury e-commerce market. He has been an integral force driving the operational excellence of Mytheresa as well as the continuous expansion of its warehouse infrastructure with agile and innovative solutions. Sebastian led the planning and successful opening of Mytheresa’s new global distribution center at Leipzig Airport in 2024. Upon the closing, Sebastian will step down from the Management Board.
Gareth Locke, Chief Data & Analytics Officer: Gareth Locke, Mytheresa's current Chief Growth Officer, will be appointed to a new role as Group CDO. In this new role he will be responsible for the development of group-wide customer insights and group-wide customer analytics tools, thus leveraging the power of the combined data pool to support the store brands in serving all customers in the best way. Gareth Locke joined Mytheresa in 2016 and has served as Chief Growth Officer of Mytheresa since 2018. Gareth has been essential in driving the company’s global growth through effective performance marketing and innovative customer insights & analytics. Upon the closing, Gareth will step down from the Management Board.
Richard Johnson, Chief Business Officer: Richard Johnson, Mytheresa's current Chief Commercial Officer, will be appointed to a new role as Group CBO and will be responsible for managing the group-wide vendor partnerships including budget, planning, category expansion, operations of the Curated Platform Model as well as the group’s sustainability initiatives. He joined Mytheresa in 2017 as Chief Commercial Officer, Richard has been key in driving the company's commercial success, cultivating outstanding and enduring brand relationships and spearheading various category expansions including menswear, fine jewelry & watches, kidswear and home. With a wealth of more than 25 years experience in the fashion retail industry, Richard has shown a profound understanding of the constant changes in fashion consumers and the need to continually evolve product offerings.
Björn Kastl, Chief People Officer: Björn Kastl, Mytheresa's current CPO, will be appointed as Group CPO, implementing the new organization and joint operating model, ensuring a seamless transition for all employees as well as creating strong, individual cultures in the different business divisions. Björn joined Mytheresa in 2018 and has served as Chief People Officer since 2019. His profound understanding of modern human resource management and his commitment to fostering a performance focused and diverse work environment have been critical in nurturing the talents that drive Mytheresa's continued success and global growth.
Francesca Tranquilli, Chief Transformation Officer: Francesca Tranquilli, YOOX NET-A-PORTER's current President Online Flagship Store, will be appointed as Group CTrO to drive and orchestrate the transformation of NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET as well as the combination of the businesses into a new LuxExperience Group. Francesca will also continue in her current role as President Online Flagship Stores. She has been President of YOOX NET-A-PORTER's online flagship stores since 2018 and has extensive detailed knowledge of the YOOX NET-A-PORTER organization. Francesca joined YOOX in 2010, where she held various roles including Branding & Communication Manager and Strategic Marketing & Business Development. Previously she has worked for 6 years at Bain & Company in Milan and London.
Brand leadership team
A core element of the strategy of LuxExperience will be to strengthen and invest into the differentiated value propositions of the unique store brands across the Group. To this end an extraordinary new leadership team has been assembled at the brand level based on a proven track record to serve customers, drive change and lead teams with passion. All store brand leaders will report to the Group CEO directly. More announcements concerning the leadership teams of the different store brands will follow in the coming weeks.
Heather Kaminetsky, CEO of NET-A-PORTER: Heather Kaminetsky will be appointed Chief Executive Officer of NET-A-PORTER and will be responsible for defining and driving a re-energized customer proposition across the globe as well as simplifying the organizational structures. Heather joined Mytheresa in 2021 as President North America. She led and oversaw all client-facing activities in the US and Canada driving tremendous growth for Mytheresa in this major market of luxury consumption. Heather has held multiple executive positions at various companies before joining Mytheresa, including NET-A-PORTER where she was Vice President Global Marketing until 2016. Heather possesses a wealth of customer-centered digital experience globally and particularly in North America. As NET-A-PORTER conducts a majority of its business in the United States this will be an invaluable asset for her role.
Toby Bateman, CEO of MR PORTER: Toby Bateman, founding member of MR PORTER, will return to MR PORTER and be appointed as its CEO. From 2010 to 2020, he was instrumental in the successful establishment and rapid growth of MR PORTER. Originally Buying Director for Mr Porter, he was promoted to Managing Director in 2015. Toby defined the original brand offer and launched many brands for digital distribution for the first time. He was responsible for positioning MR PORTER as the first online store to be an authorized retailer for many high-end watch brands. Toby also launched the business’s own label brand "MR P". He is considered a global pioneer of the online menswear fashion business.
Mirko Nobili, CEO of YOOX: Mirko Nobili will be promoted to CEO of YOOX. He will in addition support the integration while transitioning from his previous role as COO of YOOX NET-A-PORTER into his new role. Mirko joined YOOX NET-A-PORTER in 2020 as Global Operations Director. His strong knowledge of operations, customer needs and organizational change has been built through critical roles at a range of companies including Nestlé Italiana and Burberry, where he spent seven years in successive roles as Vice President of Global Supply Chain for Beauty and Transformation respectively, before becoming Vice President of Global Customer Fulfilment at Burberry.
Sabah Naqushbandi, Managing Director of THE OUTNET: Sabah Naqushbandi will continue in her role as Managing Director of THE OUTNET, overseeing Buying, Merchandising, Creative, and Marketing. Sabah is spearheading the brand’s ongoing transformation by sharpening its value proposition and reinforcing its unique portfolio of previous-season luxury fashion. Sabah joined MR PORTER in 2013 as Global Marketing Director, where she played a pivotal role in establishing the brand as a leader in men’s luxury e-commerce. Her career also includes senior brand-building roles in the music and beauty industries, reflecting a deep expertise in connecting global audiences with culturally relevant, premium brands.
CEO of Mytheresa Business: For the time being, in addition to his duties as Group CEO, Michael Kliger will continue to serve as CEO of the Mytheresa business.
Nora Aufreiter, Chair of the Supervisory Board of MYT Netherlands Parent B.V., said: “With this new and expanded management team, our Company is bringing together exactly the right operational and strategic skills and experience required to master the successful transformation of the businesses and to drive shareholder value creation in the future.”
About Mytheresa
Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23). For more information, please visit https://investors.mytheresa.com/.
“LuxExperience” will be the trade name for LuxExperience B.V. a Dutch company with limited liability, upon completion of the renaming of MYT Netherlands Parent B.V.
Forward looking statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the proposed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination or abandonment of the proposed transaction; the expected timing and likelihood of completion of the proposed transaction with Richemont; the risk that the remaining conditions to closing the proposed transaction may not be satisfied in a timely manner or at all; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalated after the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adversely impact consumer demand; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.
Mytheresa undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.
You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.
Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.
|
Investor Relations Contacts Mytheresa.com GmbH Stefanie Muenz phone: +49 89 127695-1919 email: investors@mytheresa.com |
|
|
Media Contacts for public relations Mytheresa.com GmbH Sandra Romano mobile: +49 152 54725178 email: sandra.romano@mytheresa.com
Media Contacts for business press Mytheresa.com GmbH Lisa Schulz mobile: +49 151 11216490 email: lisa.schulz@mytheresa.com |
Media Contacts for business press BOC Consult GmbH Ruediger Assion mobile: +49 176 2424 7691 email: ruediger.assion@boc-consult.com |
Source: MYT Netherlands Parent B.V.