Neiman Marcus acquires stake in Fashionphile
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 17/04/2019 (2662 days ago), so information in it may no longer be current.
NEW YORK – Neiman Marcus Group is getting serious about the fast growing secondhand luxury business.
The Dallas-based luxury retailer said Wednesday it has acquired a minority stake in Fashionphile LLC, an online seller of preowned accessories.
As part of the deal, Neiman Marcus and Fashionphile, founded in 1999, will be launching new ways for both buyers and sellers to more easily participate in the preowned market. That means at select Neiman Marcus stores, customers will be able to not only receive an immediate quote for their items from Fashionphile but also payments they can spend immediately on new luxury items at the store. Neiman Marcus says it will not be selling any preowned merchandise at its stores.
The move comes as Neiman Marcus is trying to reinvent itself as its affluent shoppers spend more online.
Neiman Marcus’s first Fashionphile salon in its stores will open this fall, but the location hasn’t been set yet, according to Neiman Marcus’s CEO Geoffroy van Raemdonck.
“We want to meet the needs of our customers,” Van Raemdonck said. “I feel a sense of urgency.”
Van Raemdonck says more than 50% of Neiman Marcus’s customers sell or buy preowned goods, according to its own study. He believes the new partnership will help make it easier for shoppers to get their payment and then quickly use the newfound money to buy new goods at the store.
This isn’t Neiman Marcus’s first try at second hand. It had a short-lived partnership with The RealReal, an online seller and buyer of secondhand designer goods a few years ago. Van Raemdonck says the secondhand market has become much more popular with its customers since then.
___
Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio
