What: Neiman Marcus Group announced the closing of the USD 200 million common equity minority investment by Farfetch Limited in NMG, and the signing of the commercial agreements with Farfetch Platform Solutions.

Why is it important: Neiman Marcus Group will use the proceeds to further accelerate growth and innovation through investments in technology and digital capabilities to make life extraordinary for its customers.

In addition to the minority investment Farfetch is making in NMG, Farfetch and NMG have negotiated a commercial agreement whereby Farfetch Platform Solutions will 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.

Neiman Marcus is committed to using select FPS modules, including foundational international services. Both Bergdorf Goodman and Neiman Marcus will join the Farfetch Marketplace as a partner, adding participating brands in key global geographies.

Neiman Marcus Group announces the closing of a USD 200 million minority investment by Farfetch