When Net-A-Porter was acquired by Richemont and became a key part of the luxury giant’s Yoox Net-A-Porter ( YNAP ) operation, its Outnet off-price business always seemed to stick out as not quite fitting. It was dwarfed by the huge Yoox off-price business.

And it seems that YNAP’s new owner LuxExperience agrees, as on Friday it announced that it has reached an agreement to “sell the set of assets powering The Outnet platform presenting a tailored solution for The Outnet that also accelerates the transformation of LuxExperience”. The buyer is The O Group LLC.

The new owner of The Outnet, which saw sales of €260 million in fiscal year 2025, is a company whose shareholders include Joseph Edery and Timeless Group of Companies CEO Ritesh Punjabi, who are “both are renowned experts

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