The Neiman Marcus Group has revealed its intention to acquire Stylyze - a digital platform that offers solutions to retailers for an improved customer experience.
NMG initiated a strategic partnership with Stylyze in 2018, and its technology is already a key part of the company’s remote-selling platform and industry-leading client tool called Connect.
The move to purchase Stylyze would strengthen NMG’s ability to create a stand-out luxury experience. This is an area the company is expected to invest over half a billion dollars in over the next three years.
Geoffroy van Raemdonck, Neiman Marcus Group CEO said in a release: “By acquiring Stylyze, we will be able to advance our strategy of integrated luxury, building long-term relationships with our luxury customers that create emotional value and high lifetime value potential.
“This allows us to deepen our relationship with our customers through the use of technology.”
Kristen Miller, CEO and Co-founder of Stylyze commented in a statement: “We could not be more thrilled for the opportunity to join forces with such an esteemed industry leader that brings together the best customers, brands, and selling channels.
“Our company and team have been working with NMG for over three years, and we are ready to rapidly power, accelerate, and elevate unique and distinct digitally-enabled service models.”
The acquisition is expected to close in the first quarter of fiscal year 2022.