Luxury retailer Neiman Marcus files for IPO valued at $100M
NEW YORK (AP) — Luxury retailer Neiman Marcus has filed for an initial public offering for the second time in a little more than two years.
For the purpose of calculating a filing fee, Neiman Marcus said it expects to raise $100 million from the offering.
The Dallas company has 41 Neiman Marcus locations and two Bergdorf Goodman stores on New York’s Fifth Avenue. Its MyTheresa brand has one store in Germany and targets a younger clientele.
Neiman Marcus Group Inc. says it had $4.84 billion in revenue in its last fiscal year.
Neiman Marcus was spun off from former parent Harcourt General in 1999. It was taken private in 2005 by private equity firms TPG Capital and Warburg Pincus, who paid a total of $5.1 billion for the company. Neiman Marcus filed for an IPO in June 2013, but never went public, as Ares Management and Canadian Pension Plan Investment Board bought it for $6 billion in October of that year.
Ares and Canadian Pension Plan Investment Board will maintain majority control of the company following the IPO.
The company plans to list its shares under the ticker symbol “NMG.”