Farfetch is taking a stake in Neiman Marcus Group as part of a broader strategic partnership that will see Bergdorf Goodman and Neiman Marcus join the Farfetch platform. The initial focus will be on re-platforming the Bergdorf Goodman website and mobile application to expand its global capabilities and services. Farfetch said it will make a minority common equity investment of up to $200mn in NMG, joining existing investors including PIMCO, Davidson Kempner Capital Management, and Sixth Street. NMG said it will use the proceeds to “further accelerate growth and innovation through investments in technology and digital capabilities.”
As part of the deal, NMG said it will use Farfetch Platform Solutions to re-platform the Bergdorf Goodman website and mobile application. As a result, Bergdorf Goodman will introduce its digital customer experience and curated offering to customers globally, integrating seamlessly with the iconic New York City flagship. Both Bergdorf Goodman and Neiman Marcus will join the Farfetch Marketplace as a partner, adding participating brands in key global geographies. The completion of the global strategic partnership and investment is expected by the third quarter of 2022, subject to the satisfaction of customary closing conditions.