Bergdorf Goodman news and archive

Saks parent company acquires Neiman Marcus, Amazon to be investor

In what has been a long-winded back-and-forth that has spanned multiple years, it is now believed that department store powerhouses Saks Fifth Avenue and Neiman Marcus Group are finally set to merge. According to multiple media reports, Saks parent company Hudson’s Bay Co. (HBC) has secured an agreement to purchase Neiman Marcus Group for a...

Business

Farfetch closes 200 million dollar minority investment in Neiman Marcus Group

Retail conglomerate Neiman Marcus Group (NMG) has announced the closing of a 200 million dollar equity minority investment in the group by luxury fashion platform Farfetch Limited, as well as a commercial agreement with Farfetch Platform Studios (FPS). In a release, NMG said it will be using the proceeds to accelerate growth and innovation...

Business

Bergdorf Goodman appoints two new execs

New York retailer Bergdorf Goodman has announced the promotion of Cheryl Han to senior vice president of its e-commerce division and customer strategy. The luxury group also promoted Melissa Xides to senior vice president of Bergdorf Goodman Stores and brand operations. In a release, the Neiman Marcus-owned company said the two new execs will...

RetailFeatured

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,...

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...

Fashion Featured

Behind those magical traffic-stopping holiday windows

Rivaling New York City's 72-foot Christmas tree at Rockefeller Center for visitors are the enticing holiday windows all along Fifth Avenue. But from Galeries Lafayette in Paris to Harrods in London, top retailers of the world’s most important shopping cities participate in the tradition of decking out their windows with boughs of holly,...

Business

Bondholder says Neiman Marcus might default

Things aren't looking pretty for Neiman Marcus. Business of Fashion has reported that Marble Ridge Capital LP said in a letter to Neiman Marcus Group Ltd LLC that the luxury department store company may be in default on its debt after it moved its MyTheresa business into an entity belonging to the retailer's private equity owners. "These recent...