LuxExperience to sell The Outnet assets to The O Group for $30M

LuxExperience (LUXE) and The O Group announced that they have entered into a binding agreement for LuxExperience to sell the set of assets powering The Outnet platform. The Outnet operates as the online destination for luxury fashion from previous seasons with net sales of EUR 260M in FY25. As part of the transfer of The Outnet assets, LuxExperience will transfer the brand rights, customer data, full inventory and the U.S. distribution center as well as required work-force in the U.S. and the UK employees. The transaction includes a cash consideration of $30M 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.