LuxExperience B.V. Announces Sale of THE OUTNET Assets

LuxExperience B.V. (NYSE: LUXE) has entered into a binding agreement with The O Group LLC to sell the set of assets powering THE OUTNET platform. The transaction includes the transfer of brand rights, customer data, full inventory, the US distribution center, and relevant workforce. A cash consideration of USD 30 million will be paid, subject to adjustment based on inventory levels at closing. LuxExperience will continue its commercial relationship with THE OUTNET post-closing and provide certain operational and IT services at cost level. The divestment is part of LuxExperience's transformation plan to focus on its YOOX business and accelerate the overall transformation plan for NET-A-PORTER and MR PORTER. The transaction is expected to close in Q1 2026, pending customary regulatory approvals.