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 Group establishes an environmental social governance team

The Neiman Marcus Group has announced the companies’ first team devoted to environmental improvements throughout its operations. The Environmental Social Governance team (ESG) strategy includes collaborating with independent third-party consultants to assess the companies most crucial environmental initiatives, set time-bound goals, invest in...

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’...

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

Rihanna launched the latest Fenty drop at Bergdorf Goodman

Since its launch last year, Rihanna's LVMH-backed luxury label Fenty has released new collections through limited-time drops, often each with its own retail partnership. The label's most recent drop, called Release 2-20, launched this week in New York City amidst the excitement of New York Fashion Week. The pop star-turned-entrepreneur teamed...

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...

Fashion

Loewe launches bag collection in aid of Elephant Crisis Fund

Spanish fashion house Loewe has launched a collection of handbags in support of the Elephant Crisis Fund, joining other fashion companies like Ralph Lauren and Tiffany in the fight against the ivory trade. The brand has launched an Elephant Mini Bag in collaboration with Knot On My Planet and its global ambassador Doutzen Kroes. The bag is...

People

Darcy Penick named President of Bergdorf Goodman

Neiman Marcus Group has appointed Darcy Penick as the President of Bergdorf Goodman. Starting her new position on September 4, 2018, Penick, the company said will report directly to Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group. “Darcy’s impressive leadership skills coupled with her success in digital and international...