Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.
NEW YORK, United States — Neiman Marcus Inc filed registration papers on Monday for an initial public offering as its private equity owners eye an exit for their long-held investment in the luxury department store operator.
NEW YORK, United States — Luxury retailer Neiman Marcus plans to raise up to $100 million from an initial public offering of its common stock. That amount is likely to change though as bankers gauge investor interest. Private equity firms TPG Capital and Warburg Pincus are the selling shareholders. The firms bought Neiman Marcus in 2005 for $5.1 billion. Neiman Marcus won't receive any proceeds from the offering.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
NEW YORK, United States — KKR & Co. is weighing whether to make an investment in Saks Inc. and may push the luxury retailer to pursue a combination with rival Neiman Marcus Group, said people with knowledge of the matter.
NEW YORK, United States — Saks Inc on Tuesday reported higher-than-expected first-quarter sales but said investments to launch an e-commerce site for its outlet chain would weigh more on profits than expected.
NEW YORK, United States — TPG Capital and Warburg Pincus LLC are exploring a sale or public offering of Neiman Marcus Group Inc. eight years after acquiring the luxury retailer, according to two people familiar with the matter.
SAN FRANCISCO, United States — Luxury department store operator Neiman Marcus is shutting its eBay Inc store, a setback for the e-commerce company, which has been trying to lure large retailers to its online marketplace.
Making Sense of the YSL Retrobranding (Insight & Analysis) “When Hedi Slimane was appointed creative director of Yves Saint Laurent, last March, YSL’s parent company, PPR, gave the designer ‘total creative responsibility for the brand image and all its collections.’” Colin’s Column | Making the Case for a Modern Couture (Opinion) “Strange people in the fashion world. Take Dior. The couturier who
Target Teams Up With Neiman Marcus to Create a Holiday Sales Smash (Forbes) “You don’t need to be a fashion slave to understand that the newly announced partnership between Neiman Marcus and Target is going to produce a collection that will send holiday shoppers thronging to both stores.” KCD, Spring Form Strategic Partnership (WWD) “KCD, the well-known public relations and events agency, and Spring, the
Hermès Family Back in Saddle (WSJ) “The founding family of French luxury-goods maker Hermès International Tuesday named a member of its sixth generation to become chief executive next year, cementing its grip as the threat lingers from larger rival LVMH Moët Hennessy Louis Vuitton.” Neiman Marcus 3Q profit rises 35 pct (Businessweek) “Upscale retailer Neiman Marcus Inc. said Tuesday its fiscal third-quarter profit
Fashion forward (The Economist) “Flogging fashion is like selling fish, as Amancio Ortega, the founder of Inditex, likes to say. Fresh fish, like a freshly cut jacket in the latest colour, sells quickly and at a high price. Yesterday’s catch must be discounted and may not sell at all. This simple insight has made Inditex one of the world’s two biggest clothes makers. ” Neiman Marcus to woo China shoppers via the web