As private equity deals go, TPG and Warburg Pincus’ 2005 acquisition of Neiman Marcus Inc. is getting long in the tooth — big money investors typically spend five to seven years tweaking a company before trying to cash in.
So with the stock market near its all-time high and interest rates still low, Neiman’s is working with Credit Suisse, which, according to sources, is taking a “dual track” approach, exploring an initial public offering or alternatively an outright sale to another investor.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)