LuxExperience B.V. has agreed to sell The Outnet website to The O Group LLC for $30 million. The Outnet, a luxury fashion off-price retailer, generated net sales of 260 million euros in fiscal year 2025. The O Group will acquire all necessary assets from LuxExperience to power The Outnet, including brand rights and customer data. LuxExperience will maintain a commercial relationship with The Outnet post-deal, providing merchandise and operational services. The closing of the $30 million purchase is expected in the first quarter of 2026, pending regulatory approvals and payment. LuxExperience is a leading digital luxury group, also owning Mytheresa, Net-a-porter, and Mr Porter.

Read more at Yahoo Finance: LuxExperience to Sell The Outnet