The Outnet Sells for $30 Million to Luxury Experts as YNAP Focuses on Core Business

The Outnet, originally an off-price extension of Net-A-Porter, has long been a part of the luxury giant’s Yoox Net-A-Porter (YNAP) operation, following Net-A-Porter’s acquisition by Richemont. However, its positioning within the portfolio often seemed somewhat incongruous, particularly given its size relative to the expansive Yoox off-price business, which significantly dwarfed it.

This perception has now been addressed by LuxExperience, YNAP’s new owner. The company recently announced an agreement to divest "the set of assets powering The Outnet platform," framing it as a tailored solution that will also accelerate LuxExperience’s ongoing transformation. The buyer has been identified as The O Group LLC.

The O Group LLC, the new proprietor of The Outnet, boasts shareholders who are seasoned experts in luxury fashion. These include Joseph Edery and Ritesh Punjabi, the CEO of Timeless Group of Companies. The Outnet itself recorded sales of €260 million in fiscal year 2025. The assets slated for transfer encompass relevant brand rights, comprehensive customer data, the entire inventory, the US distribution centre, and the necessary workforce in both the US and the UK.

Financially, LuxExperience is set to receive $30 million in cash, an amount subject to adjustment based on inventory levels at the time of closing. Furthermore, for a specified period post-closing, LuxExperience will continue to provide certain operational and IT services to The Outnet, all priced at cost level. This strategic divestment is expected to enable The Outnet to fully realize its potential under a revitalized, independent, standalone business model. Despite the sale, LuxExperience intends to maintain a commercial relationship with The Outnet, a sensible move given its continued significance as a key off-price luxury e-tailer.

For LuxExperience, the deal represents an opportunity to concentrate its off-price resources more effectively on its substantial remaining Yoox business. Concurrently, it will accelerate the overall transformation plan aimed at establishing an efficient infrastructure platform for Net-A-Porter and Mr Porter. The transaction is projected to be finalized in the first quarter of next year.