Fashion
LuxExperience reveals YNAP job cuts, but UK, Italy HQs to remain

Published
September 4, 2025
LuxExperience is continuing to work on the integration of its legacy Mytheresa business and its acquired Yoox Net-A-Porter (YNAP) operations into its group set-up and has announced “significant efficiency and structural improvements”, meaning around 700 job cuts at the latter.
The company said the planned measures are part of its overall transformation plan after acquiring YNAP in April. The changes will be achieved by “simplifying the business and using shared infrastructure where appropriate”. And it added that Net-A-Porter, Mr Porter, Yoox and The Outnet should “regain growth and financial strength after years of decline”.
The plan is “to serve customers better and more efficiently” so “select operational and administrative structures” within the luxury segment (that is, Net-a-Porter and Mr porter), as well as the off-price segment (Yoox and The Outnet) in Italy, the UK, the US and other jurisdictions “will be consolidated”.
That will mean a partial reduction of the workforce across several sites that “may affect approximately 700 employees”.
But that doesn’t mean a mass movement of HQs. The company added that it “remains fully committed to Italy and the United Kingdom as the respective headquarters of its newly acquired store brands”. Italy will remain a long-term operational hub for LuxExperience and the HQ for Yoox, while Net-A-Porter, Mr Porter and The Outnet will still have their HQ in the UK. “The teams in the different brands are integral drivers for returning to growth and financial strength after years of decline,” it explained.
The Germany-based business believes the moves “are a critical part of the overall transformation plan for YNAP that also includes significant investments in future growth through more customer-centricity, marketing spend as well as increased buying budgets, which aim to further solidify LuxExperience as the undisputed leader in global, digital luxury”.
The news is perhaps unsurprising given that acquisitions usually lead to efficiencies and consolidation, and given the lack of profitability at YNAP for some time. That was a situation that first led its former owner, luxury giant Richemont, into what became a long-term process to find a buyer. At one point it had struck a deal with another major name in the luxury e-tail space, Farfetch, to take it on. But that business’s own implosion and subsequent takeover by Coupang derailed that plan.
The takeover of Farfetch by Coupang, the acquisition by Frasers Group and subsequent closure of Matchesfashion, and the purchase of YNAP by Mytheresa’s parent and then its evolution into the LuxExperience Group underlined the problems faced by luxury e-tailers this century.
But it also left LuxExperience in a powerful position. It now owns three of the key luxury brands e-tail brand covering in-season retail, as well as two of those for the high-end off-price segment.
The former MYT Netherlands Parent BV changed its name to LuxExperience in January this year to reflect that status. Since then it has announced a raft of leadership changes at its acquired brands.
The challenges it faces have been very clear this year as the luxury slump has continued but in May, it reported Q3 results for the legacy Mytheresa operation with sales and adjusted EBITDA continuing to improve, although it acknowledged the “tough market environment”.
Copyright © 2025 FashionNetwork.com All rights reserved.
Fashion
Indian e-commerce market set to cross $200 billion mark in 2025: GlobalData

Published
October 21, 2025
The Indian e-commerce market is set to cross the $200 billion mark in 2025, growing at a rate of 12.5% as consumer appetite for online purchases and trust in digital payments increases, according to a new forecast by GlobalData.
“The e-commerce market in India has experienced rapid growth in recent years, driven by broader digital adoption, increasing internet and smartphone penetration, and the availability of secure online payment tools,” said GlobalData senior banking and payments analyst Poornima Chinta in a press release. “The growing popularity of online shopping events such as Flipkart’s Big Billion Days, Myntra’s Big Fashion Festival, and Amazon’s Great Indian Festival has further supported the surge in India’s online shopping market.”
GlobalData forecasts that the Indian e-commerce market will reach Rs 17.7 trillion ($211.6 billion) this calendar year. With a projected compound annual growth rate (CAGR) of 11.5% between 2025 and 2029, the market could reach Rs 27.3 trillion ($326.7 billion) in 2029.
Factors which are contributing to sustained Indian e-commerce growth include government-led policy support, increasing digital integration in retail, and rising adoption of AI driven payment options. The Indian government rolled out Goods and Services Tax rate cuts on September 22, applying to sectors including fashion and wellness goods, and large businesses including Reliance Retail and Flipkart announced their participation in the 100-day ‘GST Bachat Utsav,’ highlighting GST discounts to promote consumer spending.
“India’s ecommerce market will continue its upward growth trajectory over the next few years with consumer appetite for online shopping showing no signs of waning,” said Chinta. “The country’s young, upwardly mobile demographic, growing popularity of alternative payment solutions, favourable regulatory initiatives, and technological advancements are converging to transform how Indians shop- creating new market opportunities, improving customer experiences, and attracting fresh investment.”
Copyright © 2025 FashionNetwork.com All rights reserved.
Fashion
UK production output drops 0.3% QoQ during quarter to Aug 2025: ONS

The largest negative contributor to the three-monthly fall in August came from electricity and gas (down by 2.6 per cent QoQ), while manufacturing remained flat.
UK production output was estimated to have decreased by 0.3 per cent quarter on quarter (QoQ) during the quarter to August.
The largest negative contributor to the three-monthly fall came from electricity and gas, while manufacturing remained flat.
Monthly production output was estimated to have increased by 0.4 per cent in the month, partly due to increases in manufacturing output.
Monthly production output was estimated to have increased by 0.4 per cent in the month. This followed a decline in July 2025 (down by 0.4 per cent month on month) and a rise in June 2025 (up by 0.9 per cent), an ONS release said.
The rise in monthly production output in August resulted partly from increases in manufacturing (up by 0.7 per cent). Eight of the 13 manufacturing sub-sectors saw a monthly increase.
Fibre2Fashion News Desk (DS)
Fashion
New EU strategy proposed to shape global clean, resilient transition

The new EU global climate and energy vision adds an external dimension to the Clean Industrial Deal and sets a new strategy to strengthen existing partnerships and forging new, mutually beneficial ones, an official release said.
A new strategy for securing Europe’s place in global markets was recently proposed by using diplomacy to protect core EU interests, promoting standards for a fair transition and addressing new security threats and challenges.
The vision proposes to ramp up the EU’s clean technology manufacturing capacity to reach 15 per cent of the global technology market, while improving its industrial competitiveness.
Launched in February 2025, the EU’s Clean Industrial Deal is a strategy to boost European industrial competitiveness and decarbonisation by lowering energy costs, accelerating clean technology, supporting circularity and developing skills.
As a market still dependent on fossil energy imports, renewables will remain at the heart of the EU’s clean transition. Almost half of EU electricity was generated by renewables in 2024. This significantly increases the EU’s energy independence and security. The EU has also seen an increase of 111% in the share of clean energy investments since 2015.
The vision proposes to ramp up the EU’s clean technology manufacturing capacity to reach 15 per cent of the global technology market, while improving its industrial competitiveness, in line with the Clean Industrial Deal.
The vision also reaffirms the EU’s commitment to a rules-based international order.
The EU will continue driving robust international climate policies. This includes stronger action to address the nexus between climate change, environmental degradation, and security and resilience by engaging at multilateral (UN and NATO) and bilateral levels.
It will implement the actions set out in the 2023 Joint Communication on the Climate-Security Nexus and continue combatting information manipulation and disinformation on climate change, the release noted.
The new vision presents a series of strategic actions for global energy and climate engagement to drive the clean transition, competitiveness and clean technologies and investments.
These include injecting political momentum by encouraging multilateral and bilateral fora and initiatives to deliver on the Paris Agreement and Global Stocktake commitments; boosting EU clean tech businesses internationally and enabling climate resilient investments by organising business fora, setting up an EU external Clean Transition Business Council, scaling up investments and establishing business models for climate adaptation; and supporting and connecting European businesses with global investments by making full use of the Global Gateway Investment Hub to assist joint investments projects outside the EU.
These also include expanding networks of mutually beneficial partnerships for global and resilient clean value chains and reforming global financial institutions for the clean and resilient transition and stepping up EU’s climate security work.
Fibre2Fashion News Desk (DS)
-
Tech1 week ago
UK police to upgrade illicit asset recovery system | Computer Weekly
-
Tech5 days ago
Why the F5 Hack Created an ‘Imminent Threat’ for Thousands of Networks
-
Tech6 days ago
What Is Google One, and Should You Subscribe?
-
Entertainment1 week ago
Victoria Beckham thinks Brooklyn Beckham is fed up with Nicola Peltz drama?
-
Tech1 week ago
Massive UK dieselgate lawsuit reaches court
-
Tech1 week ago
When does it pay for housing associations to replace water and sewage pipes?
-
Fashion1 week ago
US brand Ralph Lauren reports 2025 sustainability progress
-
Business1 week ago
EY and Microsoft launch AI skills passport: Free program to train youth in AI; focus on career growth – The Times of India