Neiman Marcus Group announced its intent to acquire Stylyze Inc., the first of several future digital investments and building out of technology capabilities, the company said. The Seattle-based, women-founded and -led technology company is a machine learning SaaS platform that offers product attribution data and curated content to power relevant shopping experiences across the customer journey.
“Over the past year, we’ve been strengthening the foundation of our business. We knew the rebound was coming, and we’ve been experiencing the return of luxury as it accelerates. NMG is perfectly positioned to capture the growing interest of luxury customers as we develop essential digital capabilities that ensure we drive profitable and sustainable growth,” said Geoffroy van Raemdonck, CEO, Neiman Marcus Group. “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.”
NMG will continue to explore opportunities to further its integrated luxury retail focus through acquisitions, partnerships and building out digital capabilities internally, the company added.