While Neiman Marcus's buyers are busy running around to fashion shows to sniff out the best styles for spring, the company itself is readying to close the deal on a pretty big purchase. On Monday morning, Neiman Marcus announced that it has acquired the German multi-brand luxury site Mytheresa.com, adding some online and, importantly, international weight to its portfolio.
The buyout hasn't taken place just yet — that should take place later this year, after regulatory approvals — but the two have signed the acquisition agreement. According to Neiman, which also owns Bergdorf Goodman, the plan is for Mytheresa.com and the offline Theresa store to operate as an independent subsidiary and remain based in Munich, where it was founded in 2006.
As far as management switcheroos go, Bergdorf Goodman president Joshua Schulman will tack on president of Neiman Marcus Group international to his responsibilities and take on overseeing Mytheresa.com. The website's founders, husband and wife pair Susanne and Christoph Botschen, will join an advisory board. Meanwhile, Mytheresa.com's managing directors and buying director/resident street style star, Justin O'Shea, will continue on in their current roles.
Most recently, Mytheresa.com cropped up in the fashion consciousness with a limited edition Calvin Klein capsule collection pulling from the label's most iconic looks. So hey, if it can add a little bit of cool to Neiman Marcus's portfolio — that's good, too.