Vendors generally reacted positively to the news that Neiman Marcus Group is changing hands, although there was caution over the fact that it’s the second luxury retailer to see new ownership after Hudson’s Bay Co.’s bid to acquire Saks Inc.
An executive from one factoring firm, who requested anonymity, said whenever there’s a sale, the new owners always want to show they can grow the business. “One of my concerns is that to push growth, there is an increase in lower-price merchandise or an increase in floor space for younger, more contemporary designers, which in turn could mean taking away space from the designer category,” this individual said.
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?"