LuxExperience Sells THE OUTNET for $30 Million to Give the Platform a Fresh Start

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…