​Luxury e-tailer Mytheresa announced on Monday that its parent company, MYT Netherlands Parent BV, is to be renamed LuxExperience BV as part of its planned acquisition of Yoox Net-A-Porter from Richemont.

With that acquisition it will own the four in-season and off-price retailers Net-A-Porter, Mr Porter, Yoox and The Outnet, as well as its existing Mytheresa operation, so a change to a new name that acts as an umbrella term for all five businesses makes sense for the New York Stock Exchange (NYSE)-listed firm.

It said that as a newly combined group, “LuxExperience will be home to some of the most distinguished store brands in digital luxury with strong identities and unique characteristics, offering highly curated and strongly differentiated edits of the most prestigious luxury brands for luxury shoppers worldwide”. 

And it added that the renaming reflects its “ambition to build a leading global multi-brand digital luxury group that creates communities for true luxury enthusiasts and desirability through unique digital and physical experiences”. 

Subject to approval, it will continue to be NYSE-listed with the trade name LuxExperience and a new ticker symbol of LUXE. 

Approval is awaited from competition regulators but approval from its own shareholders should come at an Extraordinary General Meeting, scheduled for March 6.

Mytheresa said the renaming “will be a first milestone” post-acquisition.

It underscores its earlier stated aim to retain all of the brands and in particular to carve out clear niches for the My Theresa, Net-A-Porter and Mr Porter operations that have been direct rivals in the luxury and ultra-luxury women’s and menswear markets.

The company said each brand has “earned a strong reputation in the luxury industry for their pioneering roles in innovation, authoritative editorial voice and curation as well as high-quality customer service. All brands stand for clearly differentiated but complementary multi-brand offerings for luxury customers worldwide and carry a strong heritage”.

In fact, Net-A-Porter in particular was a luxury pioneer, founded in 2000 as at a time when few thought anyone would want to buy luxury fashion online. 

Like the now-defunct Matches, Mytheresa was originally a single physical shop (Theresa in Munich). But it launched online as Mytheresa in 2006. 

Mr Porter launched as a men’s spin-off from Net-a-Porter in 2011. And on the off-price side of the business, Yoox also launched in 2000, with The Outnet debuting in 2009.

Mytheresa CEO Michael Kliger said: “Luxury is an experience-driven business. The introduction of the new group name LuxExperience reflects our ambition to strengthen our position as a leading global multi-brand digital luxury group that builds a community for true luxury enthusiasts and creates desirability through digital and physical experiences. 

“Within the group, we will further strengthen and develop the unique store brands and their identities, while creating synergies in the back-of-house. 

“The new formed group will present one of the most exciting opportunities for investors worldwide to participate in the huge market opportunity in digital, multi-brand luxury shopping.”