US luxury specialty retailer Neiman Marcus to go public

Texas-based luxury brand Neiman Marcus Group Inc. has recently filed for an initial public offering with US regulators for the second time in two years after revealing plans to go public.

There were previous plans to make the company public in July 2013, but its previous owners, TPG Capital and Warburg Pincus, decided to sell it instead to CPPIB and Ares Management for $6 billion.

The luxury retail giant sells brands under the Neiman Marcus, Bergdorf Goodman and MyTheresa brands. It also carries merchandise from luxury fashion brands such as Gucci and Prada.

The IPO can be viewed as strategic, given that the North American luxury market is expected to grow by a rate of more than 4 percent a year, according to market research firm Euromonitor. Global market figures, meanwhile, where pegged at 3.6 percent.

Neiman Marcus' sales increased 4.1 percent to $4.84 billion in the fiscal year ending in August 2, 2014. The company has posted 22 consecutive quarters of positive comparable store sales growth through the end of the third quarter of fiscal 2015.

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