Women's Wear Daily

Neiman Marcus Takes Stake in Fashionphile

Neiman Marcus Group has bought a minority stake in Fashionphile, a 20-year-old business specializing in the buying and selling of used luxury handbags, jewelry and accessories. The purchase price and the percent of Fashionphile now owned by Neiman Marcus was not disclosed. Fashionphile, founded by Sarah Davis, operates a web site as well as four physical showrooms, in New York on Madison Avenue near 75th Street; as well as in Beverly Hills; San Francisco and Carlsbad, Calif., where customers can drop off their items and shop online. Fashionphile primarily sells via its web site, Fashionphile.com. Neiman’s will not be engaged in re-commerce, also referred to as resale, though certain Neiman Marcus stores will serve as drop-off points for Fashionphile. Re-commerce sites have become increasingly popular among consumers of different generations. The values, styles and sustainability associated with the format all resonate with consumers. However, some brands such as Chanel have been vehemently opposed to the resale of its products. Still, resale sites such as The RealReal, ThredUp and Tradesy are growing. While these sites have a pretty wide range of products, Fashionphile focuses on what the company describes as “ultra” luxury handbags, jewelry and accessories. Neiman’s has not made an investment in an outside company

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Designers on Notre-Dame

Many designers have an intimate relationship with Paris. WWD asked for their thoughts after the fire that stunned the world and nearly destroyed one of the city's most enduring monuments, the cathedral of Notre-Dame.

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