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MR PORTER (trading name of YOOX Net-a-Porter Group S.p.A.)
MR PORTER is an online luxury fashion store for men, selling clothes, shoes, and accessories from designer brands.
MR PORTER is an online store where men can buy designer clothes, shoes, watches, and grooming products. It sells brands like Gucci, Prada, and Brunello Cucinelli, and it also has its own in-house line called Mr P. The company's pitch is style advice and convenience: instead of hunting through physical stores, a customer browses a curated edit, gets help from stylists, and has the box delivered to their door.
The money comes from selling the clothes themselves. MR PORTER buys inventory from brands or sells on their behalf, then marks up the price and keeps the difference. It also runs a subscription service called MR PORTER SUBSCRIPTION, where customers pay a fee to rent clothes and send them back, which gives the company recurring revenue instead of one-off sales. Its core customers are men with money to spend who want fashion without the hassle, typically aged 25 to 45 and living in big cities. The big thing driving the business is that luxury shoppers increasingly buy online. MR PORTER sits inside YOOX Net-a-Porter Group, the giant that also owns NET-A-PORTER, the women's version of the same idea. That shared ownership gives it buying power, logistics, and a global customer base it could not build alone. Its rivals are other online luxury players and the brands' own websites, which increasingly sell directly to shoppers and cut out the middleman.
The honest weakness is that this is a tough, low-margin game. Holding expensive inventory is risky, returns are expensive, and luxury brands increasingly want to control their own sales. The 2024 merger of YOOX Net-a-Porter with Mytheresa reshaped the group's ownership, and the combined business has struggled with growth and profitability — an important reminder that selling beautiful clothes online is a lot harder than it looks.
Saved answer · last researched 1 Nov 2026
BIG PICTURE
Mr Porter's parent lost 11.1% of its active customers in a year
- 11.1% Active customers lost year over year at NAP/MR PORTER
- 88.9% Active customers retained or newly added
The online luxury business that houses Mr Porter is shrinking its customer base even as sales tick up. Active customers at Net-a-Porter and Mr Porter fell 11.1% year over year, while the segment grew sales 5.6% in the same quarter. That means the growth comes from selling more to fewer, wealthier shoppers, which is a thinner foundation for a store that needs scale to make money. Source: AInvest, data from 2026
Timeline
Two Founders Bet on Selling Luxury Online
In 2000, Natalie Massenet, a former fashion journalist, started Net-a-Porter in London as a website that looked like a glossy magazine but let you click and buy the clothes. People in fashion doubted it would work without a physical store, yet it was making money by 2004. That same year in Milan, Federico Marchetti started Yoox, which sold leftover luxury stock from fashion houses at a discount online. Two people, two cities, one big idea: luxury could live on the internet.
Yoox Goes Public
In late 2009, Yoox listed its shares on the Milan Stock Exchange and priced them at the top of the range investors were willing to pay. The listing handed Yoox money to grow and made it a known name in online luxury.
Richemont Buys Net-a-Porter
Swiss luxury group Richemont bought a majority stake in Net-a-Porter, valuing the business at over half a billion dollars. Net-a-Porter stayed a separate brand under Richemont, keeping its own identity.
Mr Porter Opens for Men
Net-a-Porter launched Mr Porter, a menswear-only site, in 2011. It quickly became a core piece of the company's lineup of luxury shopping sites.
Yoox and Net-a-Porter Merge
In 2015 the two rivals joined forces to create YOOX Net-a-Porter Group, a global online luxury giant. Yoox's Federico Marchetti took the CEO role, and Net-a-Porter's Natalie Massenet left. Richemont got shares but its voting power was capped, which left Yoox effectively running the combined company.
Richemont Takes Full Control
A few years later, in 2018, Richemont bought almost all of YNAP, taking complete ownership of the group. The company was then delisted from the Milan Stock Exchange, so its shares no longer traded publicly.
Farfetch Deal Collapses
Richemont struck a deal in 2022 to sell nearly half of YNAP to rival Farfetch, an attempt to shed a business that was losing money. The plan fell apart in late 2023 after Coupang bought Farfetch, killing the deal.
YNAP Leaves China
By 2024, YNAP announced it would shut down all its online platforms in China and leave the market. Years of losses and fierce competition in Chinese luxury e-commerce had made the business too hard to win.
Mytheresa Buys YNAP
In 2025, Mytheresa completed its purchase of YNAP from Richemont, making YNAP a wholly owned subsidiary. The combined group was renamed LuxExperience B.V. and listed on the New York Stock Exchange under the ticker LUXE. The idea was to revive YNAP's brands by sharing one set of infrastructure, technology, and back-office operations.
LuxExperience Cuts and Splits
LuxExperience launched a turnaround plan to get YNAP's brands growing again after years of decline. The plan meant streamlining operations and cutting around 700 jobs across Italy, the UK, and the US, and it also split the off-price brands, YOOX and THE OUTNET, away from the luxury brands, Net-a-Porter and Mr Porter.
The Turnaround Shows Results
The repair work started to pay off: LuxExperience reported its third profitable quarter, with net sales up about 7.6% in the fourth quarter. Net-a-Porter and Mr Porter grew and made money for the first time since the acquisition, with sales up 5.6% that quarter, and the group forecast more growth and profit ahead, a real sign of a turnaround.