YOOX Net-a-Porter Group
Corporate brand
UnclaimedA global luxury-fashion e-commerce group created by the 2015 merger of YOOX and Net-a-Porter and subsequently acquired by Richemont.
Last updated October 6, 2026
Overview
YOOX Net-a-Porter Group, commonly abbreviated as YNAP, was a luxury-fashion e-commerce group formed in October 2015 through the merger of Italy-based YOOX Group and the Net-a-Porter Group. The combination brought together two complementary digital retail models: YOOX’s technology-led outlet and off-price businesses, including Yoox and The Outnet, and Net-a-Porter’s curated full-price luxury platforms, including Net-a-Porter and Mr Porter. The group also operated online retail and technology services for selected luxury brands, helping fashion houses establish and manage branded e-commerce sites. The merger created one of the largest specialist online luxury-fashion operators, with activity spanning clothing, shoes, handbags, accessories, watches, jewelry, beauty, and selected lifestyle goods. Its principal consumer platforms served different customer segments: Net-a-Porter focused on women’s luxury fashion, Mr Porter on men’s luxury fashion, Yoox on a broad designer assortment and past-season inventory, and The Outnet on discounted designer merchandise. YNAP also developed regional and localized operations across Europe, North America, Asia-Pacific, and other international markets. YOOX was founded by Federico Marchetti in Italy in 2000 and became known for its inventory-management, fulfillment, and e-commerce technology capabilities. Net-a-Porter was founded in the United Kingdom in 2000 by Natalie Massenet and became an influential online luxury-fashion publication and retailer. The 2015 transaction was structured as a share-based merger, with the combined company headquartered in Milan and listed in Italy. Marchetti became chief executive of the combined group, while Richemont, which had previously owned a significant interest in Net-a-Porter, became a major shareholder. In 2018, Swiss luxury-goods group Richemont agreed to acquire the shares of YNAP that it did not already own. The transaction made YNAP a controlled Richemont subsidiary and allowed Richemont to consolidate its luxury e-commerce activities more closely with its maisons and other digital initiatives. Richemont subsequently completed the squeeze-out and delisting process, ending YNAP’s status as an independently traded public company. YNAP’s strategic importance lay not only in direct retail sales but also in its operating infrastructure. The group combined merchandising, editorial content, digital marketing, logistics, customer service, international payments, and data-driven personalization. Its business nevertheless operated in a difficult environment characterized by high customer-acquisition costs, returns, inventory risk, intense competition, and the challenge of making luxury products available online without weakening brand exclusivity. Following Richemont’s acquisition, YNAP remained associated with the Net-a-Porter, Mr Porter, Yoox, and The Outnet platforms, while its corporate structure and technology operations were progressively aligned with Richemont’s broader digital strategy.
History
YOOX Net-a-Porter Group emerged from the convergence of two influential European digital-fashion businesses. YOOX was established in Italy in 2000 by Federico Marchetti as an online retailer specializing in designer and luxury goods, including past-season inventory. It developed strong capabilities in catalog management, fulfillment, international e-commerce, and technology services for fashion brands. Net-a-Porter was also established in 2000, in the United Kingdom, by Natalie Massenet. It pioneered an editorially styled online luxury-shopping experience in which fashion journalism, photography, and retail were integrated into a single digital proposition. Over time, Net-a-Porter expanded beyond its original women’s platform. Mr Porter was introduced as a dedicated men’s luxury-fashion site, while The Outnet addressed customers seeking discounted designer merchandise. YOOX likewise broadened its international operations and provided e-commerce services to luxury maisons. The companies served overlapping but not identical customer needs: Net-a-Porter and Mr Porter emphasized curation, service, and full-price luxury; Yoox and The Outnet emphasized breadth, discovery, and outlet-oriented pricing. In 2015, YOOX and Net-a-Porter combined in a share-based transaction. The resulting YOOX Net-a-Porter Group was headquartered in Milan and listed on the Italian stock exchange. The merger created a large specialist platform with a broad geographic footprint and multiple brands capable of serving different price points and shopping missions. Federico Marchetti led the combined group, which invested in logistics, mobile commerce, personalization, content, and the operation of online stores for third-party luxury brands. The company’s growth model depended on international scale and the ability to balance luxury-brand presentation with the operational economics of online retail. It faced challenges common to fashion e-commerce, including inventory forecasting, markdowns, returns, delivery costs, counterfeit prevention, customer acquisition, and the need to preserve premium service across markets. Its multi-brand architecture allowed the group to separate full-price luxury retail from off-price and outlet activity, while sharing selected technology and fulfillment resources. Richemont, the Swiss owner of luxury maisons including Cartier and Montblanc, had been connected to the Net-a-Porter business before the merger and became a significant shareholder in YNAP. In 2018, Richemont reached an agreement to acquire the remaining shares it did not own. The acquisition was completed through a tender-offer and subsequent squeeze-out process, after which YNAP was delisted and operated as a Richemont subsidiary rather than as an independent public company. After the acquisition, the Net-a-Porter, Mr Porter, Yoox, and The Outnet names continued to represent the group’s principal customer-facing platforms. YNAP’s role increasingly centered on digital luxury retail, logistics, technology, and customer relationships within Richemont’s wider portfolio. The group’s history illustrates the consolidation of luxury fashion’s online infrastructure: editorial retail, outlet commerce, global fulfillment, and brand-owned digital stores were brought together in a single operating group and later placed within a major traditional luxury conglomerate.
- 2018
Richemont takes control
[2]Richemont agrees to acquire the YNAP shares it does not already own, beginning the transition of YNAP into a controlled Richemont subsidiary.
- 2018
YNAP is delisted
[2]The acquisition and squeeze-out process concludes, removing YNAP from the Italian public market.
- 2015
YOOX and Net-a-Porter merge
[1]The two companies complete a share-based combination and form YOOX Net-a-Porter Group, headquartered in Milan and listed in Italy.
- 2000
YOOX is founded in Italy
[1]Federico Marchetti establishes YOOX as an online retailer for designer and luxury fashion, with a strong focus on technology and past-season inventory.
- 2000
Net-a-Porter is founded in the United Kingdom
[1]Natalie Massenet launches Net-a-Porter, combining fashion editorial presentation with online luxury retail.
Products and positioning
A global, multi-platform digital retailer and technology operator for luxury and designer fashion, combining curated full-price retail with outlet and off-price commerce.
Luxury fashion e-commerce · 2000
Net-a-Porter
Net-a-Porter is the group’s women’s luxury-fashion platform. It offers curated collections from international designers across ready-to-wear, shoes, handbags, accessories, beauty, jewelry, and related lifestyle categories. Its proposition combines premium merchandising, fashion editorial, personalized digital service, and international delivery.
Men's luxury fashion e-commerce · 2011
Mr Porter
Mr Porter is the group’s men’s luxury-fashion platform. Its assortment has included designer clothing, tailoring, footwear, watches, grooming, and accessories. The site has historically differentiated itself through editorial content, styling guidance, and a combination of fashion and premium lifestyle merchandising.
Designer outlet and fashion e-commerce · 2000
Yoox
Yoox is the group’s broad international fashion marketplace and outlet-oriented platform. It sells designer apparel, footwear, accessories, and lifestyle goods, often including past-season or surplus inventory. Its model emphasizes assortment breadth, discovery, global reach, and value-oriented access to designer brands.
Luxury fashion outlet · 2009
The Outnet
The Outnet specializes in discounted designer fashion for women. It provides a separate outlet proposition from Net-a-Porter, presenting past-season apparel, shoes, bags, and accessories through a more price-conscious retail format while retaining a fashion-led presentation.
Brand decisions
2018
Richemont acquisition and delistingM&ABackground
Richemont sought greater control over a major luxury e-commerce platform and the ability to coordinate it with its wider portfolio of luxury maisons.
Action taken
Richemont acquired the YNAP shares it did not already own and completed the related squeeze-out and delisting process.
Aftermath
YNAP became a controlled Richemont subsidiary and ceased to operate as an independently traded public company.
2015
Combination of YOOX and Net-a-PorterM&ABackground
The two businesses sought to combine complementary luxury e-commerce capabilities, customer segments, brands, and international operations.
Action taken
They completed a share-based merger and created YOOX Net-a-Porter Group as a listed company.
Aftermath
The new group operated Net-a-Porter, Mr Porter, Yoox, and The Outnet while also providing digital-commerce services to luxury brands.
Recent events
- 2018
Richemont agrees to acquire the remaining YNAP shares[2]
M&A
Richemont announced an agreement to acquire the shares of YOOX Net-a-Porter Group that it did not already own, making YNAP a controlled subsidiary of the Swiss luxury group.
- 2018
YOOX Net-a-Porter Group leaves the public market[2]
M&A
Following Richemont’s acquisition, YNAP completed the corporate steps associated with the squeeze-out and delisting of its shares from the Italian market.
- 2018
YOOX NET-A-PORTER GROUP becomes part of Richemont[3]
M&A
Richemont increased its ownership of YNAP, after which the group became a Richemont subsidiary rather than an independently listed company.
- 2015
YOOX and Net-a-Porter complete merger[1]
M&A
YOOX Group and the Net-a-Porter Group completed their combination, creating YOOX Net-a-Porter Group and bringing their luxury-fashion e-commerce platforms under one listed company.
- 2015
YOOX and Net-a-Porter agree to combine[3]
M&A
YOOX and Net-a-Porter combined to create YOOX NET-A-PORTER GROUP, bringing together complementary luxury-fashion and off-price online retail platforms.
Sources3 sources
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