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Neiman Marcus acquires German fashion etailer mytheresa
16
Sep '14
US-based apparel marketer Neiman Marcus Group said it has acquired online luxury products retailer - mytheresa.com from Christoph and Susanne Botschen and Acton Capital Partners.

In addition, Neiman will also be acquiring the THERESA flagship luxury fashion store in Munich from the Botschen family.

Germany-based mytheresa.com is a premier luxury multi-brand fashion online retailer with annual revenues of around $130 million annually.

mytheresa.com stocks a highly curated mix of over 170 luxury brands in key women’s categories like apparel, shoes, handbags and accessories.

From its base in Munich, mytheresa.com ships to over 120 countries globally with a highly localized approach and more than two-thirds of its revenue comes from outside of Germany.

Neiman Marcus says, mytheresa.com’s strength in the European, Middle East, and Asia markets complements its core business in the US.

The mytheresa.com online store and THERESA store will be run as an independent subsidiary of Neiman Marcus.

“With the acquisition of mytheresa.com, Neiman Marcus Group takes yet another step towards our strategy to serve the affluent customer around the world”, said Karen Katz, CEO - Neiman Marcus Group. "

Neiman Marcus Group operates under two divisions. The Specialty Retail Stores segment includes Neiman Marcus, Bergdorf Goodman and Last Call stores.

The Online segment conducts direct to consumer operations under the Neiman Marcus, Horchow, CUSP, Last Call and Bergdorf Goodman brand names. (AR)

Fibre2fashion News Desk - India

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