Neiman Marcus Steps Up Its Efforts to Go Global

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How do you cater to the wealthy around the world without opening physical stores?  You buy an existing successful online business.

The luxury retailer [Neiman Marcus], which only operates department stores and outlet stores in the United States, has announced a rare acquisition: a deal to buy the Munich-based Mytheresa.com online luxury business from founders Christoph and Susanne Botschen and Acton Capital Partners.

As part of the deal, Neiman Marcus is also buying Theresa’s flagship store in central Munich.

Look out Net-a-Porter and The Corner.  The competitive heat is on.

Read:  Neiman Marcus goes global thanks to an e-commerce deal