Neiman Marcus Files for IPO

By Chris Lange Published Aug 5, 10:45AM EDT

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Neiman Marcus Group Inc. has filed an S-1 form with the Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given in the filing but the offering is valued up to $100 million, though this number normally just acts as a placeholder. The company has not yet determined which index to list on but it intends to file under the symbol NMG.

The company did not name any underwriters in the filing.

Founded over 100 years ago, Neiman Marcus is one of the largest omni-channel luxury fashion retailers in the world, with about $4.8 billion in revenues for fiscal year 2014, of which approximately 24% were transacted online. The company offers a distinctive selection of women’s and men’s apparel, handbags, shoes, cosmetics and precious and designer jewelry from premier luxury and fashion designers to its loyal and affluent customers “anytime, anywhere, any device.” Neiman Marcus also has a longstanding heritage of providing the highest level of personalized, concierge-style service to its customers through an experienced team of sales associates. The company operates 41 full-line stores in marquee retail locations in major U.S. markets.

Under each of its primary brands, Neiman Marcus offers its customers a curated and compelling assortment of narrowly distributed merchandise from luxury and fashion designers, including Chanel, Gucci, Prada, Akris, Brioni, Ermenegildo Zegna, David Yurman, Christian Louboutin, Valentino, Burberry, Louis Vuitton, Goyard, Brunello Cucinelli, Van Cleef & Arpels and Tom Ford.

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Its comprehensive digital platform integrates and personalizes the online and in-store experience. The company empowers its sales associates with mobile devices and proprietary technology to improve their connection with customers, and utilizes advanced analytics to personalize merchandise presentations to customers when shopping online. Neiman Marcus believes that over 75% of the total luxury spending of its customers is digitally influenced.

Currently entities affiliated with Ares Management and Canada Pension Plan Investment Board (CPPIB) and certain co-investors hold substantially all the outstanding common stock of Neiman Marcus.

Neiman Marcus intends to use the net proceeds from this offering first to repay indebtedness and then for general corporate purposes from any remaining net proceeds.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.