LuxExperience has officially closed the sale of THE OUTNET platform assets to The O Group LLC , now renamed The Outnet Operations US, LLC , completing a deal first announced in October 2025.
The transaction, which closed on April 30, 2026 , carried a cash consideration of USD $30 million for the assets powering THE OUTNET platform, subject to adjustment based on inventory levels at closing. The assets transferred include the relevant brand rights, customer data, full inventory, the US distribution
center, and the required workforce in both the US and the UK . All regulatory approvals were received unconditionally before closing. The O Group LLC is backed by shareholders Joseph Edery and Ritesh Punjabi , CEO of the Timeless Group of Companies, both of whom are described as renowned experts in luxury fashion.
The buyers are expected to operate THE OUTNET as a fully independent, stand-alone business, allowing the platform to reach its full potential outside of a large corporate structure.
THE OUTNET reported €260 million in net sales for fiscal year 2025, but the divestment is a strategic part of LuxExperience 's broader transformation plan first announced in May 2025.
Michael Kliger , Chief Executive Officer of LuxExperience , said , "We are very pleased that we have found the optimal solution both for THE OUTNET and for our Group…
