After a trip through bankruptcy in 2020, Neiman Marcus plans to invest $500 million to refresh stores and improve its digital business as luxury shoppers start splurging again
Neiman Marcus Group Inc.’s sales have rebounded from last year when Covid-19 closed its stores and briefly“We saw a rebound in demand starting in March and April and it has continued to accelerate,” CEO Geoffroy van Raemdonck said in an interview.
The closely held company’s chief said he plans to invest more than $500 million over the next three years to refresh stores, speed up its supply chain and improve its digital business. The investments include an agreement to acquire Stylyze Inc., a startup that curates outfits for customers based on their past purchases and browsing history.in September having eliminated $4 billion in debt that was the result of two successive leveraged buyouts. As of April, Neiman Marcus had $1.
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