Can I make my app available for Enterprise release outside of iOS App Store?

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We have an app that is running on the app store and has more than a million users. We want to start testing the new app that has a new set of features and total new look and feel. However, we cannot get rid of the old app yet since a million users use that app. Trying to figure out the best go-to-market strategy.

What if we can have both apps out there? One on the app store and another one available as an enterprise build with a different bundle id.

How can I make the app available to download from outside App Store - similar to what SeekingAlpha and Square did? Is there any downside to it?

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you can offer current user to try the enterprise build via in-app sign-up option and generate client-id for user. On your cdn/mirror you can only allow authorized cid to download, that way maintaining security and authenticity if its a paid app.