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Today, LuxExperience B.V. (NYSE:LUXE), the leading digital, multi-brand luxury group and The O Group LLC announced that they have entered into a binding agreement for LuxExperience to sell the set of assets powering THE OUTNET platform.
The transaction includes a cash consideration of USD 30 million for the assets powering THE OUTNET platform. Closing of the transaction is expected to occur in the first quarter of calendar year 2026, subject to certain closing conditions, including customary regulatory approvals and payment of the purchase price, which is subject to adjustment based on inventory levels at closing. LuxExperience will continue its commercial relationship with THE OUTNET also after closing of the transaction and for a certain period after closing LuxExperience will provide certain operational and IT services all priced at cost level.
Posted In: LUXE
