ZURICH, Oct 7 (Reuters) - Cartier owner Richemont

has agreed to sell its Yoox Net-A-Porter (YNAP) online

fashion and accessories business to Mytheresa, ending

the search for a new owner of loss-making YNAP after the

collapse of a previous deal last year.

The deal will give Richemont a 33% stake in German luxury

fashion platform Mytheresa in exchange 100% of the share capital

of YNAP, the Swiss group said on Monday.

YNAP is being sold to Mytheresa with a cash position of 555

million euros ($608.50 million) and no financial debt, the

statement added, with the deal also provide a revolving credit

facility of 100 million euros to YNAP.

The deal is expected to close in the first half of 2025,

Richemont added.

YNAP had long been a sore spot for Richemont in the face of

growing competition and the need for investment in technology

and logistics.

Richemont will have the right to nominate a member to the

supervisory board of Mytheresa after the deal closes and will

have to hold its shares in the German company for at least a

year.

($1 = 0.9121 euros)