Shares of MYT Netherlands Parent B.V., the parent company of luxury e-commerce platform Mytheresa, surged over 5% on Monday following the announcement of a major strategic acquisition. Mytheresa has agreed to acquire the online luxury fashion retailer YOOX NET-A-PORTER (YNAP) from Richemont in exchange for a 33% equity stake in the company.

This transformative deal, expected to close in the first half of 2025, will see Richemont provide a €100 million revolving credit facility to YNAP. The transaction aims to create a leading global digital luxury group by merging YNAP's Luxury division with Mytheresa's existing high-end fashion e-commerce business.

The acquisition is seen as a significant positive move for Mytheresa, strengthening its position in the rapidly growing luxury e-commerce market. By combining with YNAP's well-established luxury division, Mytheresa will gain access to a more diverse multi-brand offering and expanded global reach. This enhanced scale and product range are expected to drive further growth opportunities and synergies for the combined digital luxury platform.