LuxExperience to sell The Outnet assets in $30m deal

Digital luxury group LuxExperience has agreed to sell the assets of The Outnet platform to The O Group in a deal valued at $30m (£24.7m).

The agreement covers The Outnet’s brand rights, customer data, full inventory, its US distribution centre, and employees in both the US and UK. 

Closing is expected in the first quarter of 2026, subject to regulatory approval and other customary conditions.

According to LuxExperience, which recently acquired The Outnet as part of the former Yoox Net-a-Porter business, the sale would allow the brand to operate independently under The O Group’s ownership while enabling LuxExperience to concentrate resources on its YOOX operations and develop a more efficient infrastructure for Net-a-Porter and Mr Porter.

The Outnet, founded in London in 2009, specialises in past-season luxury fashion and reported net sales of €260m (£228m) in 2025. Shareholders in The O Group include Joseph Edery and Ritesh Punjabi, chief executive of the Timeless Group of Companies.

For a limited period after the sale, LuxExperience will continue providing operational and IT services to The Outnet at cost level. 

The company will also maintain a commercial relationship with the platform beyond the closing of the transaction.

LuxExperience stated that the divestment aligns with its strategy to simplify its structure and strengthen its core luxury and off-price businesses. 

Michael Kliger, LuxExperience chief executive, said: “We are very pleased that we have found the optimal solution both for The Outnet and for our group. The transaction will allow The Outnet to achieve its full potential under a renewed independent, stand-alone business model. LuxExperience will fully focus its resources off-price on creating the lean operating model required for YOOX in order to regain growth and financial strength.”