LuxExperience, the parent company of Mytheresa, Net-a-Porter, Mr Porter and Yoox, is selling off-price retailer The Outnet to The O Group for $30 million. The transaction is expected to close in the first quarter of 2026, subject to approvals.

The O Group is led by shareholders including Joseph Edery, founder and CEO of Icon Luxury Group, which helps brands offload inventory via off-price, and Ritesh Punjabi, CEO of retail and distribution company Timeless Group of Companies. Under the deal, it will acquire all of the assets that power The Outnet platform, including relevant brand rights, customer data, full inventory and the US distribution center. The UK employees and a “required workforce” in the US will transfer over to the new company. The transaction price is subject to adjustment b

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