Neiman Marcus Group news and archive

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...

Fashion Featured

Neiman Marcus Awards to honour Jonathan Anderson and Amina Muaddi

Jonathan Anderson and Amina Muaddi will be honoured alongside Brunello Cucinelli at the 2023 Neiman Marcus Awards, which will take place on March 5 during Paris Fashion Week. The Neiman Marcus Awards aims to showcase “the power visionary leaders have on the fashion industry,” and Jonathan Anderson, creative director of Loewe, will receive the...

Fashion

NMG and FSF announce recipients of 2023 scholarships

US department store group Neiman Marcus Group (NMG) and non-profit organisation the Fashion Scholarship Fund (FSF) have announced the recipients of the new NMG x FSF scholarship fund competition. Ten scholarships with a value of 10,000 dollars each have been awarded to the selected undergraduate students from US colleges and universities. The...

BusinessFeatured

Farfetch to invest in Neiman Marcus Group as part of strategic partnership

Luxury fashion platform Farfetch is investing in US retailer Neiman Marcus Group (NMG) as part of a new global strategic partnership between the two fashion heavyweights. Farfetch said it will make a minority common equity investment of up to 200 million dollars in NMG, joining existing investors including PIMCO, Davidson Kempner Capital...

People

Neiman Marcus Group appoints new chief legal officer

US luxury retail group Neiman Marcus has named Hannah Kim as its new chief legal officer, corporate secretary, chief compliance officer and a member of its executive team. In her new role, which begins on July 26, Kim will oversee Legal and Compliance for the group to promote and protect its overall business strategy, Neiman Marcus said in a...

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 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...

People

Neiman Marcus Group appoints new board member

US luxury retailer Neiman Marcus has appointed Paul Brown as a non-executive chair of its board of directors, effective 7 December. Brown is co-founder and CEO of US restaurant group Inspire Brands and has held various other leadership roles over the past 20 years at companies such as Hilton, Expedia, McKinsey and Company, and Boston Consulting...

Business

Mytheresa reports surge in sales for fiscal 2019

Mytheresa has reported consolidated net revenues of 377 million euros (341 million pounds) for the fiscal year ending June 2019, up from 303 million euros (274 million pounds) the previous year. The figure includes the company’s online business and physical store in Munich. The German luxury platform’s online business grew by 24.7 percent over...