Neiman Marcus Files for $100 Million IPO

Neiman Marcus filed a registration statement with the Securities and Exchange Commission to go public on June 24.

In the SEC filing, the department store chain said it hoped to raise $100 million.

Overall, the chain reported earning $4.5 billion in the last fiscal year. Fine and precious jewelry sales made up 11 percent of its revenue for the period, according to the company. 

The company currently operate 41 Neiman Marcus stores;  two Bergdorf Goodman stores; 35 off-price, smaller format Last Call stores; and six smaller format stores under the brand name CUSP.

Neiman Marcus is currently owned by private equity funds, and its owners are said to be looking for an exit strategy. One option discussed in the media—merging with Saks Fifth Avenue—would seem to have been taken off the table with this filing.

Leading jewelry brands sold by Neiman Marcus cited in its statement include David Yurman, John Hardy, Roberto Coin, Ippolita, and Van Cleef & Arpels.

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JCK News Director