LuxExperience puts 700 jobs at risk as it plans to consolidate multiple divisions

LuxExperience, the multi-brand group formed following Mytheresa’s takeover of Yoox Net-a-Porter (YNAP), has said 700 jobs could be at risk as it plans to merge the operational and administrative structures of the YNAP brands.

In a press release, the company announced that select structures within the luxury segment comprising Net-a-Porter and Mr Porter as well as the off-price segment comprising Yoox and The Outnet in Italy, the UK, the US and other areas will be consolidated.

LuxExperience noted the shift would result in a “partial reduction of the workforce across several sites”, and could impact employees in the aforementioned jurisdictions.

The decision to bring together the varying departments comes as LuxExperience strives for efficiency and structural improvements under a simplified business model, utilising shared infrastructure.

From its perspective, LuxExperience anticipates the former YNAP brands “to regain growth and financial strength after years of decline” under the broader transformation plan, for which the staff reductions were deemed “critical”.

The company underlined it remained committed to Italy and the UK as the headquarters of its store brands, with the former to continue serving as the operational hub of LuxExperience itself and the headquarters of Yoox. The UK, meanwhile, will remain the location of the Net-a-porter, Mr Porter and The Outnet headquarters.

It further acknowledged the impact of the proposed actions, noting it was committed to supporting impacted employees through “responsible and constructive solutions”. “All relevant stakeholders and employee representatives are being notified in accordance with applicable regulations,” the company continued.

LuxExperience was formed after German e-tailer Mytheresa acquired the YNAP group in April 2025. While the merging of the companies intends to create an “undisputed leader in global, digital luxury”, it has continued to face a challenging luxury market, facing both waning demand and heightened competition.

In order to mitigate impact, the group already carried out a business-wide restructuring of YNAP management. It is also planning to make “significant investments in future growth through more customer-centricity, marketing spend as well as increased buying budgets”.