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Neiman Marcus Group ends partnership with Farfetch

Feb 7, 2024
Image of Neiman Marcus logo on a raised outdoor stage

Photo: Stefanie Keenan/Getty Images for Neiman Marcus

Neiman Marcus Group said Wednesday it will end its commercial partnership with online luxury retailer Farfetch.

Why it matters: It's a switch in fortunes for the two companies, one largely physical, the other largely digital.

Catch up fast: Nearly two years ago, high-flying Farfetch invested $200 million into Neiman Marcus in exchange for a minority stake.

  • As part of that deal, Farfetch would re-platform subsidiary Bergdorf Goodman's website and mobile application.
  • Neiman Marcus and Bergdorf Goodman would plan to join Farfetch's marketplace as partners.

Zoom in: Financially troubled Farfetch recently got a $500 million rescue from South Korea's Coupang and U.S. investment firm Greenoaks.

What they're saying: "The Bergdorf Goodman website and app will continue to serve as the luxury e-commerce destination for its customers and will no longer be re-platforming onto Farfetch Platform Solutions," per a statement from Neiman.

The intrigue: Farfetch, however, will continue to be a minority, non-voting investor.

Editor's note: This story has been corrected to reflect the status of Neiman's Farfetch platform and marketplace. 

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