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Neiman Marcus owner acquires Mytheresa

German multi-brand etailer and its single bricks-and-mortar store have been bought by US retailer Neiman Marcus Group for an undisclosed sum.

The Dallas-based group, which owns department stores Neiman Marcus and Bergdorf Goodman, has bought the 14,000 sq ft Theresa store in Munich and the ecommerce platform attached to it from founders Christoph and Susanne Botschen. trades in more than 120 countires including the UK and carries more than 180 designer collections including Miu Miu, Alexander McQueen and Jimmy Choo. It recorded sales of €66m (£49.4m) in 2013 and predicted in May that turnover would rise to €100m (£82m) this year.

Neiman Marcus president and chief executive Karen Katz said: “Christoph and Susanne Botschen have brilliantly built and positioned and Theresa by catering to the international luxury customer who is young and fashion savvy, through incomparable editing of fashion and the trends along with superior service.

“They have assembled a talented and accomplished team that will be a great cultural fit with our company.”

Neiman Marcus will keep the etailer’s existing management staff in place, including joint managing directors Thomas Müller and Jens Riewenherm, and buying director Justin O’Shea. The Botschens will take advisory roles.

The couple established the store in Munich in 1987, and in 2006 launched The business predominantly focuses on luxury womenswear, footwear and accessories.

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