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NMG, one of the largest multi-brand luxury retailers in the U.S., has closed a successful fiscal year<\/strong> 2021-22.<\/p>\n <\/p>\n “We are very pleased with the strong performance achieved in fiscal 2022, which validates our ambitious strategy and our team’s impressive execution,<\/em>” announced Geoffroy van Raemdonck , NMG’s president and CEO.<\/p>\n <\/p>\n The group achieved sales growth of more than 30% compared<\/strong> to last year, delivering more than $5 billion in GMV (gross merchandise value). Adjusted EBITDA reached 495 million dollars, representing an EBITDA margin of 11% .<\/p>\n <\/p>\n <\/p>\n The group’s customers continue to be loyal, despite difficult economic cycles. For example, the top 2 percent of customers generate about 40 percent of total sales and their average spend exceeds 25 000 dollars per year.<\/p>\n <\/p>\n “Our brand partners come to us to reach our affluent customers with a luxury retail experience,<\/em>” van Raemdonck continued.<\/p>\n <\/p>\n Since the pandemic, new customers, belonging to Generations X and Z, have also entered the market, looking for luxury brands.\u00a0 They are at the top of the engagement spectrum and have driven revenue growth for many companies.<\/p>\n <\/p>\n Throughout the year, NMG remained committed to retail with multi-channel offerings. As a result, the group expanded the reach of luxury brands in the U.S. market.<\/p>\n <\/p>\n <\/p>\n Among the brand’s development strategies was a new remote sales tool: CONNECT<\/em><\/strong>. It has connected sales associates with customers anywhere, anytime, to promote conversation and advice.<\/p>\n <\/p>\n In April, the company announced a partnership with Farfetch<\/strong>, one of the world’s leading technology platforms specializing in luxury apparel. The partnership aims to transform the digital platforms of some of the group’s brands such as Bergdorf Goodman<\/strong>.<\/p>\n <\/p>\n Another key element of NMG’s successful growth roadmap was the publication of the first ESG (social and governance) report<\/strong>, which explains the long-term strategies to revolutionize luxury experiences.<\/p>\n <\/p>\n Proud of its success and growth in fiscal year 2022, Neiman Marcus Group will continue to meet with clients and establish new exclusive brand partnerships for fiscal year 2023.<\/p>\n <\/p>\n Read also>Responsible consumption impacted by inflation ?<\/a><\/p>\n <\/p>\n Featured photo : \u00a9 Press[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n NMG, one of the largest multi-brand luxury retailers in the U.S., has closed a successful fiscal year<\/strong> 2021-22.<\/p>\n <\/p>\n “We are very pleased with the strong performance achieved in fiscal 2022, which validates our ambitious strategy and our team’s impressive execution,<\/em>” announced Geoffroy van Raemdonck , NMG’s president and CEO.<\/p>\n <\/p>\n The group achieved sales growth of more than 30% compared<\/strong> to last year, delivering more than $5 billion in GMV (gross merchandise value). Adjusted EBITDA reached 495 million dollars, representing an EBITDA margin of 11% .<\/p>\n <\/p>\n <\/p>\n The group’s customers continue to be loyal, despite difficult economic cycles. For example, the top 2 percent of customers generate about 40 percent of total sales and their average spend exceeds 25 000 dollars per year.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\nA new loyal customer base<\/h2>\n
Strategies that work<\/h2>\n
U.S. luxury retailer, Neiman Marcus Group, yesterday unveiled strong results for the 2021-2022 fiscal year, which ended in July.<\/h4>\n
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A new loyal customer base<\/h2>\n