Published On: Sun, Aug 10th, 2014

Neiman Marcus CEO Karen Katz Likes Being Owned by Private Equity

Neiman Marcus CEO Karen Katz

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.”

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