Neiman Marcus news and archive

Neiman Marcus to go fur-free by 2023

The Neiman Marcus Group (NMG) has announced that it is to go fur-free by early 2023, as it confirms the closure of its existing fur salons. The American retailer said that it will discontinue selling any products containing animal fur as part of its forthcoming environmental, social and governance (ESG) strategy. The animal welfare policy,...

People

Neiman Marcus appoints first fashion and lifestyle director

US luxury retail group Neiman Marcus has announced the appointment of Lisa Aiken in a newly created role as fashion and lifestyle director. The role is part of the merchandising and planning team transformation and will see Aiken act as a fashion-forward expert to pinpoint emerging brands, source new trends and services in the industry. She will...

Business

Neiman Marcus Group intends to acquire Stylyze

The Neiman Marcus Group has revealed its intention to acquire Stylyze - a digital platform that offers solutions to retailers for an improved customer experience. NMG initiated a strategic partnership with Stylyze in 2018, and its technology is already a key part of the company’s remote-selling platform and industry-leading client tool called...

Fashion

Anna Sui launches limited capsule collection with Neiman Marcus

New York-based designer Anna Sui has launched a mesh collection in partnership with Neiman Marcus. The limited-edition mesh capsule collection is inspired by summer florals with a tribute to 90’s grunge. The pieces are made in the New York City garment district and are the perfect breathable, layering pieces for the season. The collaboration is...

Business

Neiman Marcus completes 1.1 billion dollar refinancing

US luxury retail group Neiman Marcus has completed a 1.1 billion dollar refinancing about six months after emerging from bankruptcy. The company announced Tuesday it has completed the refinancing of a substantial portion of its exit facilities with an aggregate principal amount of 1.1 billion dollars of new 7.125 percent senior secured notes due...

Retail

Neiman Marcus ramps up digital with new hire and investments

The Neiman Marcus Group is reshaping the customer experience across both its Neiman Marcus and Bergdorf Goodman brands. The company has hired Bob Kupbens as its new executive vice president, chief product and technology officer. He will join Neiman Marcus on February 1, reporting to CEO Geoffroy van Raemdonck. Kupbens will work with the company’...

Retail

Neiman Marcus announces new partnership with Affirm

Neiman Marcus has added a buy now, pay later checkout option for its customers. The luxury retailer has partnered with Affirm to bring flexible payment options to its offering. Eligible shoppers will be able to pay for their purchases over time on a schedule that best fits their unique needs and budgets. If a shopper selects Affirm at checkout,...

Business

Mytheresa confidentially applies for New York IPO

German luxury fashion e-tailer Mytheresa has confidentially applied for a New York IPO. Its parent company, MYT Netherlands Parent B.V., announced Tuesday it has “confidentially submitted a draft Registration Statement on Form F-1 to the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of...

Business

Neiman Marcus reborn: Multi-million dollar debt reduction and staff cuts

New York - The iconic U.S. luxury retail group has just announced its departure from the bankruptcy protection framework that it voluntarily filed for last May. Neimas Marcus resurfaces with a debt reduction of 4 million dollars and staff cuts. Despite having put the threat of bankruptcy behind, the retail group is cautious about the future. The...

Video

Video: How private equity is demolishing fashion retail

J. Crew, Neiman Marcus and Barney's are just a few of the fashion retailers that have recently declared bankruptcy. Although, in these companies' cases it cannot only be blamed on a pandemic, bad business practices, or a failure to keep up with e-commerce. That is why CNN Business shared this 3-minute explanation on leveraged buyout's role in...

Business

Neiman Marcus inflated its company value by billions, according to creditors

Neiman Marcus Group Ltd.’s creditors say the retailer inflated its own value by billions of dollars when it made the corporate transfer of its e-commerce site MyTheresa in 2018. An inflated value of the business would undermine its debt, making any transfer of assets an improper transaction under U.S. law. According to the Wall Street Journal a...

Retail

Neiman Marcus to shutter Hudson Yards store after one year

Neiman Marcus will not reopen the doors to its New York City flagship in Hudson Yards. The luxury retailer opened the location, its first in the city, last year with the much anticipated, grand opening of the shopping destination. The retailer filed for bankruptcy this past spring, as it faces the same financial difficulties so many of its...