The German LuxExperience will sell the assets of The Outnet to The O Group

LuxExperience BV (NYSE:LUXE), the leading digital multi-brand luxury group, and The O Group LLC announced that they have signed a binding agreement for LuxExperience to sell the set of assets that power THE OUTNET platform.

Justification of the transaction

LuxExperience agreed to sell the assets that power The Outnet platform to The O Group LLC for $30 million. The deal includes brand rights, inventory, customer data and key personnel in the US and UK. The move is expected to close in early 2026 and aligns with LuxExperience’s plan to simplify operations and focus on strengthening its Yoox and Net-a-porter businesses.

THE OUTNET operates as the online destination for back-season luxury fashion with net sales of €260 million in fiscal year 20251. Founded in London in 2009, THE OUTNET has since offered its customers unrivaled access to expertly curated back-season luxury fashion at exceptional prices. LuxExperience recently acquired THE OUTNET as part of the former YOOX NET-A-PORTER business, which together with YOOX forms its discount segment. Shareholders of The O Group LLC include Joseph Edery and Timeless Group of Companies CEO Ritesh Punjabi, both renowned luxury fashion experts.

The transaction aims to unlock an optimal solution for THE OUTNET, which is expected to allow it to achieve its full potential under a renewed independent and autonomous business model. As part of the transfer of THE OUTNET assets, LuxExperience will transfer brand rights, customer data, entire inventory and US distribution center, as well as the required workforce in US and UK employees.

The divestment of THE OUTNET assets is a strategic step in line with LuxExperience’s transformation plan announced in May 2025 which includes the simplification of its operating model by reducing complexity and aims to enable the leading digital multi-brand luxury group to fully focus its off-price resources on regaining the growth and financial strength of its YOOX business. Furthermore, it is also expected to enable LuxExperience to accelerate the overall transformation plan regarding an efficient infrastructure platform for NET-A-PORTER and MR PORTER.

Michael Kliger, CEO of LuxExperiencesaid: “We are very pleased to have found the optimal solution for both THE OUTNET and our group. The transaction will allow THE OUTNET to reach its full potential under a renewed and independent business model. LuxExperience will fully focus its off-price resources on creating the efficient operating model necessary for YOOX in order to regain growth and financial strength. In addition, it will also allow us to accelerate the overall transformation plan regarding an efficient infrastructure platform for NET-A-PORTER and MR. PORTER.

Financial consideration and material terms.

The transaction includes cash consideration of $30 million for the assets that power THE OUTNET platform. Closing of the transaction is expected to occur in the first quarter of calendar year 2026, subject to certain closing conditions, including customary regulatory approvals and payment of the purchase price, which is subject to adjustment based on inventory levels at closing. LuxExperience will continue its business relationship with THE OUTNET also after the closing of the transaction and for a certain period after closing LuxExperience will provide certain operational and IT services, all priced at cost level.