Model Mila van Eeten wears the latest pieces from Aquazzura, Chloe, David Koma, Dolce & Gabbana, Khaite, Magda Butrym, Saint Laurent, Stella McCartney, Tom Ford and more, photographed by Jorin Koers [IG] for Mytheresa [IG] Hair by Alessandro Rebecchi; makeup by Carlos Saidel

The New LuxExperience Platform

Last week the Munich-based, German e-tailer Mytheresa said that about 700 employees might be impacted as the profitable e-tailer integrates Yoox-Net-a-Porter [YNAP] into the new company LuxExperience.

The layoffs are part of a €250 million ($291 million) multi-year transformation plan that LuxExperience announced in May to create a €4 billion, profitable luxury group by 2030. That strategy includes Net-a-Porter and Mr Porter sharing an e-commerce platform with Mytheresa, along with using one another’s warehouses in select regions.

The acquisition positions the new luxury brands internet platform to become the largest player in luxury e-commerce. Swiss luxury conglomerate Richemont, YNAP’s previous owner, is footing the bill by recapitalising YNAP with €555 million in exchange for a 33 percent stake in Mytheresa, and an additional €100 million six-year revolving credit facility.

With Mytheresa, the smaller entity in revenue, carrying 250 brands on its website, Net-a-Porter lists more than 800.

Mytheresa has a low return rate, compared to YNAP’s much higher one. The new entity must use employ their effective technology at identifying financially-qualified luxury buyers, especially on Net-a-Porter.

Luxury e-commerce professionals argue that a successful future is a mix of luxury institutional brands and young independent designers. And young independents, in particular, need to be nurtured by a small number — even one or two — robust, committed luxury platforms committed to their success.

Meanwhile, while AOC understands that the primary sales channels at LuxExperience are driven via existing client databases, somebody needs to get cracking on dominating SEO just for the new name credentials alone. It’s a very popular name with major confusion for AOC who took a look just now. This is a fundamental todo, but an enticing landing page with news of what’s about to happen in the world of luxury e-tail should be developed now.