What: After completing a bankruptcy reorganization during the pandemic, the CEO and CFO of Neiman Marcus Group presented the current success of the Dallas-based luxury retailer’s strategy.

Why it is important: For the first time since 2004, Neiman Marcus appeared at the Goldman Sachs retailing event to present its renewed profitability, however, there was no mention of whether the company would return to the public markets.

Neiman Marcus is owned by three of the biggest wealth funds on Wall Street: PIMCO, Davidson Kempner Capital and Sixth Street. Farfetch is also a minority owner of the company and has helped Neiman Marcus expand its sales internationally faster than it could have done alone.

Thanks to its high-value earning clients and appeal to luxury brands, the company has regained profitabaility. According to the presentation, 40% of its revenue is coming from only 2% of all clients who spend, on average, 27,000 USD per year. They retain 90% of these clients which is one of the reasons brands want to be in their stores.

With over 1 billion USD in liquidity, Neiman Marcus Group is preparing to invest in remodelling stores over the next three years.

Neiman Marcus Group presents to Wall Street