Neiman Marcus Acquires MyTheresa.com
More bold moves at Neiman Marcus: The luxury retailer has announced that it has acquired luxury e-tailer MyTheresa.com. The Munich-based site founded by husband and wife duo Christoph and Susanne Botschen is a competitor to luxury e-tailers like Net-A-Porter, MatchesFashion, The Corner, and other global online retailers in the luxury space. The site currently and does around $130 million in sales. The news comes on the heels of Neiman Marcus’ announcement of their first Manhattan store opening in Hudson Yards in 2018 and will allow Neiman Marcus to get a better understanding of MyTheresa.com’s international clientele.
Neiman Marcus will run MyTheresa.com as a separate business the way it operates Bergdorf Goodman. Adding to his list of responsibilities, president of Bergdorf Goodman Joshua Schulman will oversee the MyTheresa.com business and will add the title of president of the newly formed NMG International to his hefty resume. The management team at MyTheresa.com will remain the same, including managing directors Dr. Thomas Mueller and Jens Riewenherm and their chic buying director, Justin O’Shea, who was seen getting snapped by photographers throughout NYFW. The Botschens will sit on an advisory board along with representatives from NMG. The deal is said to officially close, most likely, in October.