Cartier owner Richemont is selling its luxury eCommerce platform Yoox Net-a-Porter to online retailer Mytheresa. The $608 million deal, announced Monday (Oct. 7), ends a monthslong search by Richemont for a new owner for Yoox Net-a-Porter (YNAP). “Mytheresa and YNAP have each earned a strong...
For Mytheresa CEO Michael Kliger, there was no doubt about his company’s performance during the fourth quarter and fiscal year. “We clearly see ourselves as a winner in the consolidated luxury space,” he told analysts and investors during the company’s fourth-quarter and full-year earnings call on...
As the summer season heats up, wealthy vacationers from the Northeast are getting in their cars and heading out to the Hamptons for seasonal luxury, and high-end fashion brands and retailers are seizing on the opportunity to engage these valuable customers. For instance, online luxury...
As clothing brands and retailers continue to struggle with the costly problem of returns, many are turning to artificial intelligence to help consumers buy products they will actually want when they arrive. True Fit, a player in the realm of size and fit personalization, announced...
October 11, 2024
The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of creating a leading global digital luxury group. This move will […]
November 28, 2023
Although the aspirational shopper appears to have paused extravagant spending, MyTheresa is cashing in on the enthusiasm of savvy shoppers who still have some serious shopping power. In its latest...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s...
October 07, 2024
Cartier owner Richemont is selling its luxury eCommerce platform Yoox Net-a-Porter to online retailer Mytheresa. The $608 million deal, announced Monday (Oct. 7), ends a monthslong search by Richemont for a new owner for Yoox Net-a-Porter (YNAP). “Mytheresa and YNAP have each earned a strong reputation in the luxury industry for their pioneering roles in […]
May 05, 2024
If the luxury eCommerce space is tumbling down, Mytheresa plans to come out on top. “I think there is an understanding in the market that the industry is consolidating, and that there are...
July 30, 2023
After going “bonkers” during the pandemic, the luxury retail sector is returning to its baseline. For years, luxury retailers enjoyed a post-pandemic boom thanks to shoppers in China and the...
April 30, 2023
China is reportedly seeing a sharp increase in post-COVID travel and consumer activity. A Sunday (April 30) report by Bloomberg News, citing data from local media and the government, said...
