Neiman’s Buys Into Fashionphile, Explores Other Areas for Investment Future

Neiman Marcus Group’s taking a stake in Fashionphile could just be one of a string of investments down the road by the Dallas-based retailer. “I see many more partnerships like this one,” Neiman Marcus Group chief executive officer Geoffroy van Raemdonck told WWD on Wednesday after the company disclosed that it took a minority stake in Fashionphile, the 20-year-old business that specializes in the buying and selling of used luxury handbags, jewelry and accessories. One possibility is that Neiman’s invests in a health and wellness company, van Raemdonck said. The purchase price and the percent of Fashionphile now owned by Neiman Marcus was not disclosed, but van Raemdonck said, “It’s a meaningful investment, particularly when we look at our transformation agenda to be a ‘consumer-centric luxury platform.’ It’s an exclusive investment that really makes us a partner. We didn’t think we needed a majority position, but we wanted to be joined at the hips, and to be meaningful.” “We have to invest” to further Neiman’s growth, the ceo stressed. “Luxury customers demand different things from retailers like us, and demand emotional experiences. Fashionphile is one of those. We really see this as an engine to fuel our growth. We have to invest and we

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