Richemont takes control of 33% of Mytheresa in exchange for sale of YNAP

Featured image of the article Richemont takes control of 33% of Mytheresa in exchange for sale of YNAP

An article by Morgane Monteiro and Sophie Baqué

Publication

7 October 2024 à 17h43

Updated on 7 November 2024 à 19h30

Reading time

1 minute

Publication: 7 October 2024 à 17h43, Updated on 7 November 2024 à 19h30

Reading time: 1 minute

An article by Morgane Monteiro and Sophie Baqué

Publication

7 October 2024 à 17h43

Updated on 7 November 2024 à 19h30

Reading time

1 minute

Publication: 7 October 2024 à 17h43, Updated on 7 November 2024 à 19h30

Reading time: 1 minute

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On October 7, 2024, Richemont (sales of €20.62 billion in 2023, up 3.3%) announced the sale of Yoox-Net-A-Porter (YNAP ) to German marketplace Mytheresa (sales of €840 million in the fiscal year to June 2024, up 9.8%). Richemont said that YNAP was being sold with €555 million in cash and zero debt. In exchange, the owner of Cartier, Van Cleef & Arpels and YNAP since 2018 has obtained a 33% stake in Mytheresa (a subsidiary of MYT Netherlands Parent, valued at €370 million). This included the...

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Article authors

Featured image of the article Morgane Monteiro

Morgane Monteiro Journalist

Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

Featured image of the article Sophie Baqué

Sophie Baqué

Featured image of the article Sophie Baqué

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