Mytheresa to acquire digital luxury retailer YNAP [Yahoo! Finance]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
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Source: Yahoo! Finance
acquire the entire share capital of online luxury and fashion retailer YNAP from Swiss conglomerate Richemont. The acquisition is designed to offer a highly curated selection of luxury brands and products across the globe. YNAP's Luxury division will merge with Mytheresa, creating a unified entity with three distinct online storefronts - MYTHERESA, NET-A-PORTER and MR PORTER. The move will offer unique assortments, marketing and customer engagement, while also providing luxury brand partners with a wider and more targeted consumer reach. The merger will leverage shared infrastructure, including Mytheresa's technology platform and operational best practices, to drive efficiencies and preserve the unique identities of each brand. Mytheresa also plans to separate YNAP's off-price division, featuring YOOX and THE OUTNET, from the Luxury division, aiming for a streamlined operating model to boost growth and profitability. The white label division of YNAP will be discontinued as
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