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Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. This space of what's truly differentiated integrated retail, luxury focused, unique experiences is a place that we can really win.. As part of its commitment to the partnership and NMGs long-term success, FARFETCH will make a minority common equity investment of up to $200 million in NMG, joining existing investors including PIMCO, Davidson Kempner Capital Management, and Sixth Street. To become aVogue BusinessMember and receive the Technology Edit newsletter,click here. 331,115 followers. Post-pandemic playbook: Reviving US department stores, Out of bankruptcy, Neiman Marcus plans a comeback, A bankruptcy filing doesnt spell the end for retailers. To develop these ideas, Kupbens has built a team that includes a mix of people both from luxury and other industries, and told them that they are free to experiment. Neiman Marcus Group Releases First People Report and Updates Progress Toward 2025 ESG Goals Revolutionizing Luxury Experiences through the "Power of One" People Strategy Inspires Transformation and Sustainable Growth By Eric Severson, Chief People, ESG and Belonging Officer DALLAS, June. What you see is other folks vacate the space some folks who are leaning more toward pure play or leaning more toward mass. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. UK: +44 (0) 207 404 5959, FARFETCH Investor Relations Contact: Get free shipping on Schutz Viola Tractor Platform Penny Loafers at Neiman Marcus. NM_REPAIRS@NEIMANMARCUS.COM. Its really easy to build an ugly look, but it takes some real work and talent and a good team and years of investment to create a look that feels compelling. Plus, he says, acquiring Stylyze was faster than building from scratch, and helped the company remain competitive. About Bergdorf Goodman John Walls mark_d_anderson@neimanmarcus.com, FARFETCH and Neiman Marcus Group Announce Global Strategic Partnership and Investment. Farfetch Limited - FARFETCH and Neiman Marcus Group Announce Global NMG has included statements in this press release that constitute "forwardlooking statements." This was a Corporate Round round raised on Apr 5, 2022. It permanently closed most of its off-price Last Call stores and its new Hudson Yards store, and has reopened all 43 Neiman Marcus stores and two Bergdorf Goodman stores. Susannah Clark In addition, Farfetch operates in a very competitive and rapidly changing environment, and new risks emerge from time to time. DALLAS, Oct. 12, 2022 /PRNewswire/ -- Neiman Marcus Group (NMG), the integrated luxury retailer (and parent of brands including Neiman Marcus and Bergdorf Goodman), announced fiscal year. Joele Frank, Wilkinson Brimmer Katcher mostrarti annunci e contenuti personalizzati in base ai profili di interesse; misurare l'efficacia di annunci e contenuti personalizzati; sviluppare e migliorare i nostri prodotti e servizi. Contact Us at Neiman Marcus For Neiman Marcus Group to successfully recover in an environment that finds department stores facing increased competition requires a ruthless focus on stores and customer service (which includes delivery), Cohen says. About Neiman Marcus Group Jun 1, 2023 Call. About FARFETCH FARFETCHs additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands. Senior Director, Corporate Communications & Content Strategy, Neiman Marcus Group [Retailers] do have associates with treasured books, but that is probably an interaction that is on the downswing, not upswing. Director, Corporate Finance and Investor Relations, Neiman Marcus Group Through this agreement, NMG will utilize FARFETCH Platform Solutions (FPS) to re-platform the Bergdorf Goodman website and mobile application. IR@farfetch.com, Neiman Marcus Group Media Contacts: The Luxury New Retail initiative also encompasses FARFETCH Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as our Connected Retail solutions. Through this agreement, NMG will utilize FARFETCH Platform Solutions (FPS) to re-platform the Bergdorf Goodman website and mobile application. Puoi modificare le tue scelte in qualsiasi momento cliccando sui link Impostazioni privacy e cookie o Dashboard privacy sui nostri siti e sulle nostre app. For example, placing all of your online favourites in a fitting room. Stylyze uses machine learning to understand products and then find similar or coordinating items. Well bring your shoes back to their former glory, replacing heels, covering scuffs and scratches, restoring the brilliance to the soles of your favorite Louboutins, and so much more. If you experience any issues with this process, please contact us for further assistance. With its rich history of showcasing leading and emerging designers, the iconic store at 5th Avenue and 58th Streetthe crossroads of fashionis a singular destination for discerning customers around the world. FARFETCHs investment demonstrates their confidence in our omnichannel strategy, and we look forward to partnering with FARFETCH to continue revolutionizing the luxury customer experience and delivering value to all our stakeholders., Our partnership with Neiman Marcus Group is another example of how FPS has become a preeminent digital partner for the luxury fashion industry, said Kelly Kowal, Chief Platform Officer at FARFETCH. Nike crashes Paris Couture Week to unveil new era for womenswear, Vogue Business Fashion's Global Perspective, Jaden Smith and veteran buyer Sebastian Manes launch luggage brand, Why Farfetch invested $200 million in Neiman Marcus, Neiman Marcus sees bankruptcy exit by September as loans agreed, Why Brunello Cucinelli is designing an exclusive collection for Neiman Marcus, Enter your email to receive editorial updates, special offers and breaking news alerts from, has partnered with personal styling service Wishi. The Luxury New Retail initiative also encompasses Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as our Connected Retail solutions. NMG will use the proceeds to further accelerate growth and innovation through investments in technology and digital capabilities to make life extraordinary for its customers. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors 1 Funding Neiman Marcus Group has raised a total of $200M in funding over 1 round. Mark Anderson susannah.clark@farfetch.com Two months after the technology was rolled out to nearly 5,000 associates, it resulted in $60 million in incremental sales, in addition to revenue from NeimanMarcus.com. VP Communications, Global You've got data that has to talk to each other and you've got 14 views of the customer, one each for each of these partners. I love places where we get to invent, and I love places that have leadership teams that are willing and interested in making investments in the customer experience. Saks and The Webster are using Seer, a Y Combinator startup that increased its funding round due to retailer interest. Additionally, Neiman Marcus is committed to using select FPS modules, including foundational international services. As one of the largest multi-brand luxury retailers in the U.S.,with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Neiman Marcus plans to spend the sum during the next three years on new tech, updating its stores and speeding up delivery times. "We are pleased to share the successful closing of the investment by FARFETCH in NMG and now that the commercial agreements are final, we are excited to transition to realizing the important benefits of this partnership," said Geoffroy van Raemdonck, CEO of Neiman Marcus Group. You can sign up for additional alert options at any time. For more information, visit www.neimanmarcusgroup.com. As a general matter, forwardlooking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, NMGs expectations with respect to the actions described herein. This partnership is about revolutionizing the luxury landscape globally, both online and offline, by combining NMGs iconic presence in the U.S. and FARFETCHs Luxury New Retail vision and technology., We are thrilled to be partnering with FARFETCH to accelerate our e-commerce strategy, creating a seamless customer experience, said Geoffroy van Raemdonck, CEO of Neiman Marcus Group. +44 7788 405224, Brunswick Group For more information, visit www.neimanmarcusgroup.com. Still, Columbia University's Cohen has doubts about how long customers will want these types of recommendations. The Neiman Marcus Group LLC, and their affiliates (CUSIP No. Additionally, Neiman Marcus is committed to using select FPS modules, including foundational international services. Neiman Marcus, an NMG-owned brand, is committed to using select FPS modules, including foundational international services FARFETCH to make up to $200 million minority investment in NMG to. Neiman Marcus was using the technology so aggressively, Kupbens says, that it made sense to bring Stylyze in-house. Im still optimistic. It helps associates scale their capabilities to make product and outfit recommendations. You have to ask yourself: What are they capable of now and where do they have to go to be as world class as their customers expect them to be?, You do it through a connection to a real person, Krupbens says, adding that digital information can help inform recommendations for new categories, brands, events or services that hopefully deepen that personal relationship. Email us at feedback@voguebusiness.com. Mark Anderson Copyright 2018 Farfetch UK Limited. +1-512-221-8434 john_walls@neimanmarcus.com, Andi Rose / Ed Trissel Neiman Marcus and Bergdorf Goodman have pioneered and continued to redefine luxury retailing in the United States, with exclusive products, an omnichannel offering and a team of more than 3,000 talented selling associates, which enable NMG to have an unmatched relationship with the luxury-obsessed customer. I'm very much in the service of the customer experience, and whatever is going to make that seamless. Going forward, he may offer the ability to log into an app in store to access extra information or experiences that require identifying the customer, similar to the types of perks found online. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. The partnership brings together the resources of two industry leaders with a shared commitment to creating a seamless experience for customers. Our NMG|Way culture, powered by our people, combinesindividual talents into a collective strength to makelife extraordinary. Completion of the global strategic partnership and investment is expected by the third quarter of 2022, subject to the satisfaction of customary closing conditions. 62929P 102), or Matching to Purchase Customized Units (CUSIP No. Alice Ryder FARFETCH's additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands. FARFETCH Limited is the leading global platform for the luxury fashion industry. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. Andi Rose / Ed Trissel Joele Frank, Wilkinson Brimmer Katcher +1-212-355-4449 If you live near a store, just bring us your items, and a style advisor will take it from there. The Neiman Marcus Group LLC, and their affiliates (CUSIP No. Neiman Marcus plans to spend the sum during the next three years on new tech, updating its stores and speeding up delivery times. 62929P 110) (collectively, the "Company Securities"); a bona fide prospective investor in the Company Securities; We can make your well-loved shoes, handbags, and jewelry as good as new, extending their life (and your love of them) while reducing your impact on the planet. The goal is what the company calls integrated luxury retail, which translates to personalised services for a small subset of customers, says Kupbens; 40 per cent of the retailers business is from customers who spend more than $10,000 a year, and about 35 per cent of the groups revenues comes from the retailers credit cardholders. 62929R AC2, U7360R AB2)(the "Notes"); Common Units starting NMG Parent LLC (CUSIP No. Neiman Marcus Group is funded by Farfetch. This is an incredible opportunity to amplify our brand, further embed the Bergdorf Goodman experience across online and in-store, and continue our investments to further establish Bergdorf Goodman as a digital luxury leader on a global scale.. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". View the full release here: https://www.businesswire.com/news/home/20220405005613/en/, Jos Neves and Geoffroy van Raemdonck (Photo: Business Wire). He will be working with the e-commerce team, the Connect app and the innovation team, where experimental projects across both Neiman and Bergdorf Goodman are planned. Neiman Marcus Nearly Quadruples Earnings With Reduced Markdowns FARFETCH and Neiman Marcus Group Announce the Closing of a $200 Million Neiman Marcus Group LTD LLC Reports Fourth Quarter and Fiscal Year 2018 NMG undertakes no obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise. Founded in 2007 by Jos Neves for the love of fashion, and launched in 2008, FARFETCH began as an e-commerce marketplace for luxury boutiques around the world. 'Farfetch' and the 'Farfetch' logo are trade marks of Farfetch UK Limited and are registered in numerous jurisdictions around the world. When the [Stylyze] AI builds a look, it's actually a compelling look. VP Communications, Global This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. FARFETCHs investment demonstrates their confidence in our omnichannel strategy, and we look forward to partnering with FARFETCH to continue revolutionizing the luxury customer experience and delivering value to all our stakeholders., Our partnership with Neiman Marcus Group is another example of how FPS has become a preeminent digital partner for the luxury fashion industry, said Kelly Kowal, Chief Platform Officer at FARFETCH. Crucially, its the top clientele who are set to benefit. FARFETCH has invested for many years in its Luxury New Retail vision through its differentiated global technology platform. Neiman Marcus Group, Inc. is an American integrated luxury retailer headquartered in Dallas, Texas, which owns Neiman Marcus, Bergdorf Goodman, Horchow, and Last Call. Creating impact is a critical aspect . Neiman Marcus Group | Company Overview & News Katie Anderson US: +1 (212) 333 3810 Jos and the entire FARFETCH team have built a best-in-class technology platform and are the ideal partner to help us grow Bergdorf Goodman to be an even stronger global digital luxury retailer. Neiman Marcus and Bergdorf Goodman have pioneered and continued to redefine luxury retailing in the United States, with exclusive products, an omnichannel offering, and a team of more than 3,000 talented selling associates, which enable NMG to have an unmatched relationship with the luxury-obsessed customer. NMG undertakes no obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise. NEW YORK--(BUSINESS WIRE)-- Comments, questions or feedback? The new Neiman Marcus app is here! NMG | News Releases Through NM Connect, Stylyze can ingest Neimans assortment to help sales associates create looks for customers. nmg@smallgirlspr.com, Neiman Marcus Group Investor Relations Contact: Our brands includeNeiman Marcus, Bergdorf Goodman,Neiman Marcus Last Call, and Horchow. The group currently uses Stylyzes technology in remote and digital selling, but plans to integrate it into e-commerce, mobile apps and one-to-one messaging channels like text and chat. But it wont be easy.. I don't want facial recognition; it just feels like it's not any more luxurious. Please see our privacy policy for more information. Neiman Marcus Group Media Contacts: John Walls Senior Director, Corporate Communications & Content Strategy, Neiman Marcus Group +1-512-221-8434 john_walls@neimanmarcus.com. Neiman Marcus Group - Funding, Financials, Valuation & Investors There are lots of companies who bring in partners and it actually creates chaos. It cant get away with the sloppiness of Macys. People love Neiman Marcus, Kupbens says in an interview. Neiman Marcuss tech investment will shake out in the form of building tools internally as well as acquisitions and partnerships with tech providers. Additionally, Neiman Marcus is committed to using select FPS modules, including foundational international services. As a result, Bergdorf Goodman will introduce its digital customer experience and curated offering to customers globally, integrating seamlessly with the iconic New York City flagship. Neiman Marcus - Wikipedia View source version on businesswire.com: During the pandemic, luxury department stores in the US after years of playing a crucial role in brand distribution strategies gave up ground to online early adopters and to brands that found DTC channels offered more control and higher margins. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Susannah Clark Sometimes you have to prototype it and put it in front of her to say, does this feel like an elevated experience?,he says. Call Us As a general matter, forwardlooking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, NMGs expectations with respect to the actions described herein. A New York landmark since 1901, Bergdorf Goodman represents the global pinnacle of style, service and modern luxury. US: +1 (212) 333 3810 Bergdorf Goodman is part of Neiman Marcus Group. 8 min read The Neiman Marcus Group says it's seeing a "rebound" in business, which is expressed to stakeholders in a confidential report with preliminary. This is an incredible opportunity to amplify our brand, further embed the Bergdorf Goodman experience across online and in-store, and continue our investments to further establish Bergdorf Goodman as a digital luxury leader on a global scale.. Whatever your shoes need, just ask. VP Investor Relations About FARFETCH For more information, please visit www.farfetchinvestors.com. Magazine; Gift . As a result, Bergdorf Goodman will introduce its digital customer experience and curated offering to customers globally, integrating seamlessly with the iconic New York City flagship. Founded in 2007 by Jos Neves for the love of fashion, and launched in 2008, FARFETCH began as an e-commerce marketplace for luxury boutiques around the world. Follow Neiman Marcus Group: email sign Up 15% off your first purchase: Please enter a valid email address. FARFETCH offers its broad range of consumer-facing channels and enterprise level solutions to the luxury industry under its Luxury New Retail initiative. Retailers are racing to introduce technology that scales and improves associate capabilities. The partnership builds on FARFETCHS Luxury New Retail vision and advances NMGs pioneering strategy to revolutionize integrated luxury retail, with an initial focus on re-platforming the Bergdorf Goodman website and mobile application to expand its global capabilities and services. NMG will use the proceeds to further accelerate growth and innovation through investments in technology and digital capabilities. Except as required by law, Farfetch undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. At Farfetch, we promise to treat your data with respect and will not share your information with any third party. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The world is full of new tech headlines, but at the end of the day, if you don't have a great-looking store and can't fulfil orders, no amount of tech will keep your lights on.. Neiman Marcus Group | LinkedIn Neimans is operating in a rarefied space. He also is sceptical of how much tech can help. Such forwardlooking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those projected in this press release for numerous reasons, including factors outside NMGs control. Today, we released our first People Report and our second annual ESG Report, detailing progress on our 2025 goals. Se non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". In addition to the minority investment FARFETCH is making in NMG, FARFETCH and NMG have negotiated a commercial agreement whereby FARFETCH Platform Solutions (FPS) will re-platform the Bergdorf Goodman website and mobile application. Founded in 2007 by Jos Neves for the love of fashion, and launched in 2008, FARFETCH began as an e-commerce marketplace for luxury boutiques around the world. This is a significant digital transformation opportunity that will allow us to unlock massive value for Neiman Marcus Group, its shareholders and its customers, who will now be able to shop from wherever they are in the world., By leveraging the technology and expertise of FARFETCH, we will further advance our integrated strategy to expand our reach and services to customers globally, bringing our one-of-a-kind iconic New York fashion brand to customers worldwide, said Darcy Penick, President of Bergdorf Goodman. His ultimate hope is creating a new version of luxury that is thoughtful, connected, integrated, retail that is less about the channel and the mechanics and more about the experience. Neiman Marcus Group Investor Relations Contact: Internet Explorer presents a security risk. In addition, Farfetch operates in a very competitive and rapidly changing environment, and new risks emerge from time to time. Please enter a valid email address. For further information on how we protect your information, please refer to our, FARFETCH and Neiman Marcus Group Announce Global Strategic Partnership and Investment, Including Expanding Bergdorf Goodmans E-Commerce Capabilities and Reach, https://www.businesswire.com/news/home/20220405005613/en/. DALLAS, May 31, 2022 / PRNewswire / -- Neiman Marcus Group (NMG), the largest integrated luxury retailer in the U.S. and the parent of brands including Neiman Marcus and Bergdorf Goodman, announced the closing of the $200 million common equity minority investment by FARFETCH Limited (NYSE: FTCH), the leading global platform for the luxury fashio. We refurbish, restore, and repair mens and womens shoes, handbags, accessories, and jewelry, from reheeling to replacing hardware, dyeing, cleaning, and much more. VP Investor Relations This technology has the potential to be combined with proprietary customer data, such as location, shopping habits or preferred brands, to generate personalised experiences and offers. There are a lot of really gimmicky things that I just reject like I don't want a bunch of screens in a store for the purpose of having screens. Investor Relations; Press Inquiries; Careers; The Heart of Neiman Marcus; Explore. In May 2020, the group filed for bankruptcy, citing the pandemic as the catalyst. With its rich history of showcasing leading and emerging designers, the iconic store at 5th Avenue and 58th Streetthe crossroads of fashionis a singular destination for discerning customers around the world. Cohen says that of the areas in which Neiman Marcus plans to invest, the store upgrade is probably the most critical. From removing stains and giving leather a little love to replacing hardware and linings, repairing straps, and more, well give new life to your most-loved handbags. Senior Director, Corporate Communications & Content Strategy, Neiman Marcus Group 1w. All statements contained in this release that do not relate to matters of historical fact should be considered forward looking statements, including, without limitation, statements regarding the global strategic partnership, Farfetchs investment in NMG, the terms and anticipated benefits thereof, opportunities and expectations regarding FPS, any further transactions, market opportunities, whether the global strategic partnership or investment will reach closing, and assumptions underlying all such statements, as well as statements that include the words expect, intend, potential, plan, believe, project, forecast, estimate, may, should, anticipate, will and similar statements of a future or forward-looking nature. [5] [6] [7] Since September 2021, NMG has been owned by a group of investment companies led by Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment .