Farfetch To Invest Up To $200 Million In Neiman Marcus

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Farfetch to Invest Up to $200 Million in Neiman Marcus Deal
Farfetch to Invest Up to $200 Million in Neiman Marcus Deal
Online luxury fashion retailer Farfetch is making an investment of up to $200 million in Neiman Marcus Group.

The investment will seek to support Neiman Marcus’ renewed effort to boost its online business. It comes nearly two years after the luxury retailer filed for bankruptcy.

“Whilst the U.S. is proving to be a long-lasting source of growth for the luxury industry … businesses will have to significantly upgrade their digital capabilities … to meet these new customer expectations and stay ahead,” said José Neves, Farfetch’s CEO.

Through the investment, Farfetch will support Bergdorf Goodman’s website and mobile application. Neiman Marcus acquired Bergdorf Goodman acquired in 1972.

Additionally, Farfetch revealed that both retailers, Bergdorf Goodman and Neiman Marcus, will join Farfetch’s online marketplace.

Neiman Marcus’ existing investors include PIMCO, Davidson Kempner Capital Management, Sixth Street, and Farfetch.

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