Yoox Net-a-Porter (YNAP) and Mytheresa owner LuxExperience has announced job cuts as it consolidates positions during an integration of the businesses.
The layoffs could impact roughly 700 YNAP staff members throughout the UK, Italy and the US.
Net-a-Porter, the brand’s menswear arm Mr Porter, and online fashion retailer The Outnet will continue to be based in the UK.
YNAP’s off-price arm Yoox is set to retain its headquarters in Italy, alongside LuxExperience’s main operational hub.
The job cuts form part of a £216.13m multi-year transformation plan which was revealed by LuxExperience in May, aimed at creating a £3.47bn profitable luxury group by 2030.
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The plans involve Net-a-Porter and Mr Porter sharing an ecommerce platform with Mytheresa, while the brands will also share warehouses in select regions.
In a statement, LuxExperience said: “We deeply appreciate the contributions of all potentially affected employees and recognise their role in building the legacy of these iconic brands.
“All relevant stakeholders and employee representatives are being notified in accordance with applicable regulations, with the goal of managing this transition with fairness, care, respect, and a strong sense of responsibility.”
It comes after Mytheresa acquired YNAP in April, after receiving regulatory approval from the European Commission.
The deal, which was announced in October, saw the luxury etailers form a new company called LuxExperience.
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