08:52 AM EDT, 10/31/2025 (MT Newswires) -- LuxExperience (LUXE) and The O Group said Friday that they signed a binding agreement for LuxExperience to sell THE OUTNET's assets for $30 million.

The assets include brand rights, customer data, inventory, a US distribution center, as well as workforce in the US and UK, the companies said.

The companies said the deal supports LuxExperience's strategy to simplify operations and focus on YOOX's growth.

The transaction is expected to close in Q1 2026, according to the companies.

LuxExperience will continue providing certain operational and IT services at cost for a transitional period after closing, the companies said.

Shares were up 3.1% in recent premarket activity.