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...

Fashion

Neiman Marcus launches immersive experience 'Balmain Beach Club' in Dallas

Luxury department store group Neiman Marcus has launched an exclusive collection and immersive experience in Dallas, Texas, in partnership with Balmain. Debuting in 10 stores and online, the Balmain Beach Club features 14 pieces ranging across ready-to-wear and handbags inspired by the beautiful scenery of the French Riviera. Looking through its...

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

Neiman Marcus launches exclusive Loewe collection honoring 2023 award winner Jonathan Anderson

Luxury department store chain Neiman Marcus has launched an exclusive collection and several in-store installations in celebration of Jonathan Anderson, the 2023 recipient of the Neiman Marcus Award for Creative Impact in the Field of Fashion. As part of the award, Anderson designed an exclusive collection with Neiman Marcus that is now...

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...