Neiman Marcus news and archive

Farfetch to shutter software service in strategic pivot

Farfetch, the luxury e-commerce platform now under Coupang's ownership, is reportedly ceasing operations of its Farfetch Platform Solutions (FPS), a once-flagship software-as-a-service product. This move, as reported by Business of Fashion, signals a strategic shift towards cost reduction and a renewed focus on its core marketplace business. The...

Business

Hudson’s Bay officially confirms Neiman Marcus takeover

Following a slew of media reports on the matter, Hudson’s Bay Company (HBC) has officially confirmed its acquisition of Neiman Marcus Group (NMG), the parent company of Neiman Marcus and Bergdorf Goodman. The long-anticipated transaction amounted to 2.56 billion dollars, and will result in the establishment of Saks Global, a combined portfolio...

BusinessFeatured

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

Saks Fifth Avenue reportedly mulling financing options for Neiman Marcus offer

The owners of Saks Fifth Avenue are believed to be in discussions regarding the raising of financing to contribute to a potential offer for rival department store Neiman Marcus. Saks’ flagship location in Manhattan is believed to have been valued at 3.62 billion dollars, sources for Bloomberg stated, a significant increase on a 2019 appraisal...

Retail

Kering to pull brands from Farfetch, as others bypass platform

Kering has terminated its contract with Farfetch, preventing the listing of its portfolio brands, including Saint Laurent, Gucci, Bottega Veneta, and Balenciaga, on the marketplace for orders shipped directly from the brands' respective warehouses. As a workaround, Farfetch is planning to sell high-end brands on its site without direct...

Business

NMG scraps commercial partnership with Farfetch

Farfetch is continuing to experience a certain level of backlash following a last-minute rescue by South Korean firm Coupang, with the Neiman Marcus Group (NMG) now said to have scrapped its ongoing partnership with the luxury e-tailer. According to Business of Fashion (BoF), NMG has put a halt to plans to use Farfetch’s e-commerce software for...

PeopleFeatured

Neiman Marcus to honour Simon Porte Jacquemus

American luxury department store Neiman Marcus has announced that Simon Porte Jacquemus, founder and creative director of Parisian contemporary fashion label Jacquemus, will be honoured with the Neiman Marcus Award for Innovation in the Field of Fashion. Jacquemus is being recognised for “ingenuity and vision,” explained Neiman Marcus in a...

People

Neiman Marcus appoints Tom Mattei as chief legal officer

Neiman Marcus Group (NMG) has appointed Tom Mattei as chief legal officer and corporate secretary, effective immediately. In this role, the company said in a release, in addition to his existing responsibilities as chief compliance officer, Mattei will oversee strategic legal and risk-related initiatives, loss prevention, and matters of...

People

Schiaparelli’s Daniel Roseberry to receive NMG’s creative impact award

Daniel Roseberry, the creative director of Schiaparelli, is set to receive the 2024 Neiman Marcus Award for Creative Impact in the Field of Fashion, recognising the designer for his “unrivalled creativity and craftsmanship” at the Italian fashion house. According to Neiman Marcus, Texas-born Roseberry has bridged the gap between art and fashion,...

People

Dior’s Maria Grazia Chiuri to receive Neiman Marcus Award

Maria Grazia Chiuri, the creative director of womenswear and accessories for Dior, has been named as the honouree of this year’s Neiman Marcus Award for Distinguished Service in the Field of Fashion. She follows in the footsteps of Christian Dior himself, who had received the accolade in 1947, making Chiuri the first female creative director of...

Retail

Neiman Marcus and Schiaparelli collaborate on West Coast boutique

Neiman Marcus has partnered with French luxury house Schiaparelli to establish the brand's first West Coast location in Neiman Marcus' Beverly Hills store. This expansion builds upon an exclusive U.S. partnership, which includes dedicated spaces at Neiman Marcus' Dallas flagship and Bergdorf Goodman in New York City. The addition of the Bergdorf...

Fashion

Balmain and Neiman Marcus to launch exclusive 'Summer Set' activation and collection

French luxury fashion house Balmain and American luxury department store Neiman Marcus announced the launch of their collaborative immersive activation ‘Summer Set’, which features an exclusive 1920’s-inspired sportswear collection. The collection will be available in 14 stores and online, and consists of 24 women’s and men’s ready-to-wear...