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Benzinga
Benzinga
Business
Shivani Kumaresan

Farfetch Agrees To Make ~$200M Investment In Neiman Marcus Group

Neiman Marcus FarFetch NMG Bergdorf Goodman FTCH Pimco Sixth Street (Organization)
  • Farfetch Ltd (NYSE:FTCH) has entered into a partnership and investment agreement with the luxury retailer Neiman Marcus Group (NMG).
  • NMG is the parent of brands including Neiman Marcus and Bergdorf Goodman.
  • The partnership will initially focus on re-platforming the Bergdorf Goodman website and mobile application to expand its global capabilities and services.
  • Farfetch will also make a minority equity investment of up to $200 million in NMG which will be used to foster technology and digital capabilities.
  • Both Bergdorf Goodman and Neiman Marcus will join the Farfetch Marketplace as a partner, adding participating brands in key global geographies.
  • NMG's existing investors include PIMCO, Davidson Kempner Capital Management, and Sixth Street.
  • Price Action: FTCH shares are trading higher by 0.64% at $17.35 in premarket on the last check Tuesday.
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