EXCLUSIVE: Mytheresa Dives Into the Mediterranean Sea With Pucci
- Samantha Conti
- 58 minutes ago
- 2 min read
The Pucci x Mytheresa capsule collection riffs on two archive prints, with colors inspired by Capri.
The Pucci x Mytheresa capsule collection will launch on April 23. Courtesy of Mytheresa
LONDON — Mytheresa is set to finalize its purchase of Yoox Net-a-porter on Wednesday, but all that M&A activity hasn’t stopped the retailer from focusing on the luxury fashion business.
On Wednesday, the same day the deal closes, Mytheresa will unveil a collaboration with Pucci inspired by summers in Capri and the aqua blue of the Mediterranean Sea.
Mytheresa and Pucci have put a fresh spin on two signature prints — Marmo and Orchidee. The first was created in 1968 following designer Emilio Pucci’s trip to Capri and was inspired by the swirling sunlight reflections on the Mediterranean. The second print is more abstract, and was inspired by the orchid.
The collection features fluid maxi dresses, kaftans, separates and swimwear. There are also signature printed slides, as well as a twill scarf and a foulard.
A look from the Pucci x Mytheresa capsule collection, which launches on April 23.
The Pucci x Mytheresa capsule collection will launch globally on Mytheresa.com, at Pucci retail stores and on pucci.com within an editorial story, photographed by Daniel Feistenauer and featuring model Sophia Lisboa.
As reported, Mytheresa is planning to buy YNAP from Richemont, with the aim of creating a luxury ecommerce mega-group comprising Mytheresa, Net-a-porter and Mr Porter. The group will include the off-season discount retailers Yoox and The Outnet, which will be run separately.
Mytheresa will buy 100 percent of YNAP and, after the deal is finalized, the parent company will be called LuxExperience B.V. Its ticker will be changed to “LUXE” on the New York Stock Exchange.
A look from the Pucci x Mytheresa capsule collection, which launches on April 23.
In the medium term, the goal is to become a 4 billion euro GMV per annum business with an adjusted earnings before interest, taxes, depreciation and amortization margin of more than 8 percent.
The integration and restructuring is expected to take 24 to 36 months, and will be funded with a net cash position of 555 million euros, and no financial debt, at closing.
The plan is to “fully leverage Mytheresa’s operational excellence, proprietary technology and proven ability to execute large-scale projects,” said Martin Beer, chief financial officer of Mytheresa, earlier this month.
The group, and the retail brands, will also have new management teams. Michael Kliger will become group chief executive officer and managing director and continue as CEO of the Mytheresa business.
Beer will become CFO and managing director of the group. Heather Kaminetsky will become CEO of Net-a-porter. Toby Bateman, formerly managing director of Mr Porter, will return to the retailer as CEO.
Michael Kliger will become group CEO and managing director of LuxExperience B.V. once the deal to acquire YNAP has closed. Roderick Aichinger
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