DC Advisory, a leading investment banking firm, acted as the exclusive financial advisor to its client FASHIONPHILE on its strategic investment from Neiman Marcus Group, a leading luxury, multi-branded, omni-channel fashion retailer operating under Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, Horchow and Mytheresa brand names. This investment marks Neiman Marcus as the first luxury retailer to invest in the fast-growing, pre-owned market.
FASHIONPHILE is an online marketplace offering pre-owned Ultra Luxury handbags and accessories. “Over half our customers already engage in pre-owned luxury, and this exclusive partnership exemplifies our commitment to providing our customers with service offerings they want and need,” says Geoffery van Raemdonk, CEO of Neiman Marcus. Sarah Davis, FASHIONPHILE’s Founder and President added “Together we will reimagine how both buyers and sellers participate in luxury and drive increased access to the most coveted brands on the planet. The ability to cash in on your luxury handbag and accessories investments puts more money back in your wallet for that next shopping trip-whether it be with Neiman Marcus or FASHIONPHILE.” The Company’s attention to branding, curated inventory, industry-leading expertise in style and authentication have given it a unique market position, a luxury aesthetic and organic, enthusiastic fan following – earning it one of the most searched fashion brands in Google in 2018.
As part of DC Advisory’s sponsorship of The Montgomery Summit, FASHIONPHILE presented at the 2018 conference.
“The DC team lead by Eric Edmondson and Frank Cordek were great partners and delivered outstanding results adding tremendous value to our team. They demonstrated deep expertise and strong capital raising capabilities,” said Ben Hemminger, CEO and Co-Founder. Sarah Davis, President and Founder further added, “If when we started our process, I could have imagined a perfect partner, it would have been Neiman Marcus. We are beyond thrilled, the partnership not only aligns with our luxury brands, but also allows us to serve Neiman Marcus customers.”