The luxury digital commerce industry entered a critical recession phase on September 3, 2025, when LuxExperience B.V., the parent company of Mytheresa, announced plans to eliminate approximately 700 positions across YOOX NET-A-PORTER operations. This announcement coincided with Ssense’s bankruptcy filing in Canadian courts, according to legal documents filed with the Supreme Court of Quebec.
According to LuxExperience’s official statement, the workforce reduction affects employees across Italy, the United Kingdom, the United States, and other jurisdictions where the luxury segment operates NET-A-PORTER and MR PORTER, alongside the off-price segment comprising YOOX and THE OUTNET. The company characterized these measures as part…