Karen Katz, president and chief executive officer of Neiman Marcus Group, says it’s “nice” to not be a public company after Ares Management LLC and the Canada Pension plan Investment Board acquired the department-store operator last year, Blooberg reports.
The buyout came after the company considered an initial public offering.
Katz says the private equity owners, who bought Neiman Marcus for $6 billion last year, are supportive when it comes to investment dollars.
Those investments go to the development of Neiman Marcus’s e-commerce and omni-channel shopping.
Listen to Katz’s interview with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s “The Hays Advantage.”
Your browser does not support the audio element.