Farfetch Agrees To Make ~$200M Investment In Neiman Marcus Group

• Farfetch Ltd (NYSE:FTCH) has entered into a partnership and investment agreement with the luxury retailer Neiman Marcus Group (NMG).
• NMG is the parent of brands including Neiman Marcus and Bergdorf Goodman.
• The partnership will initially focus on re-platforming the Bergdorf Goodman website and mobile application to expand its global capabilities and services.
• Farfetch will also make a minority equity investment of up to $200 million in NMG which will be used to foster technology and digital capabilities.
• Both Bergdorf Goodman and Neiman Marcus will join the Farfetch Marketplace as a partner, adding participating brands in key global geographies.
• NMG's existing investors include PIMCO, Davidson Kempner Capital Management, and Sixth Street.
• Price Action: FTCH shares are trading higher by 0.64% at $17.35 in premarket on the last check Tuesday.