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...

Retail

Ginori 1735 opens Café Ginori in Bergdorf Goodman

New York department store Bergdorf Goodman has partnered with Italian fine porcelain brand Ginori 1735 to open Café Ginori. A custom project that sees the porcelain brand continue to branch out into lifestyle, the new café features Italian-inspired dishes and aims to immerse visitors in the Ginori 1735 world. Featuring the aesthetic and...

Report

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...

Report

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,...

Fashion Featured

Marc Jacobs runway names Bergdorf Goodman retail partner

Bergdorf Goodman has been named the exclusive retail partner of Marc Jacobs’ runway show. Today, the designer will present his fall/winter collection at 7 pm at the New York Public Library. It will simultaneously be projected on the facade of Bergdorf Goodman at 57th Street and 5th Avenue. Bergdorf Goodman to project Marc Jacobs runway show on...

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...

Business

Neiman Marcus aims to emerge from bankruptcy with new bond

Struggling American retailer Neiman Marcus is hoping to emerge from bankruptcy by raising one billion dollars via a junk dollar bond. The ailing department store exited Chapter 11 about six months back, and hope the funds it raises will be able pay back a loan of 125 million dollars and the large interest on its remaining debt. The NMG Holding...

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’...

Management

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...

Business

Neiman Marcus defaults on loan

Neiman Marcus has defaulted on large interest payments on bonds that were due on Wednesday. The likelihood that the company will file for bankruptcy is looking imminent. Neiman's does have a grace period of five days to pay the 72.9 million dollars in interest on the bonds that are due to mature in 2024. Neiman's also has an additional 5.7...

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...