Neiman Marcus Group is moving closer to an initial public offering, as support from bankers and investors grows and other sale strategies get eliminated.
In recent weeks, merger talks with Saks Inc. were explored and NMG’s owners, TPG and Warburg Pincus, held discussions with possible buyers, such as the sovereign wealth fund of Qatar. However, it is now believed that the two private equity owners view an IPO as the best exit strategy. Last week, Hudson’s Bay Co. reached a definitive agreement to buy Saks, leaving one less player in the field that could have pursued a deal for Neiman’s.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"