They thought investing in Neimans was a great idea.. Wall street has crashed its stock to lowest level ever.right after. Guess not Just saw on another page their CEO was warned about wasting their cash .hope there isnt a break up fee.. What a numskull Jose is of Farfetch commending Raemdonck too . Without doing research ..duhh
It was just an attempt to sell more online and less in stores to avoid commissions.. i bet..
Also the previous sister store Mytheresa is targeting neimans own best customers.. in certain markets. These private equity owned company's are so cr---y all around..
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So glad Linda is still here!
The spinning continues. Ask anyone who pays attention at BG and you will hear the same frustration about our .com business. Cheryl was just promoted to SVP for her work on the site and digital expertise. Big PR splash. And then we start over with FarFetch and say it’s broken. Hopefully this will be the final answer.
FarFetch is just another attempt by GVR and the board to turn a sinking ship. Remember when GVR hired Darcy to grow BG? And then Katie was chief digital officer. And now we have Bob. Every 12-18 months he convinces the board of something new. Buys more time for him to make his money. And Jose took the bait.
Exactly had they wanted well known disaster neimans they would've looked for them.. Farfetch loses all around.. thats why they are trying to promote bergdorf instead . Both are still. N. M. Which ripped off thousands of vendors.
Stock slid from 11 bucks to 8.38.. yes stocks fluctuate.. when you hit all time lows often businesses if they have cash buy back stock.. investors can call for a new CEO.. Jose must be nervous in Paris and readying excuses for next news releases.. He has been told He clearly made a bad mistake while the company is weak . IR departments saw that letter and promise to contact media who wont report factually . Press and money all he cares about.. plus smaller vendors wont want the larger retailers taking precedence over them.. farfetch was a platform for the smaller retailers.. in yonderyear. Once people know your name they will search you out.. farfetch or not
When you make a supposed major business announcement touting your future and stock still slides no . Jose is like all other CEOs. Greed and money is what matters.. not anybody else.. If Farfetch combed through Neimans it would have seen the mess they are
No…the stock has tanked well before the rest of the market. But, Jose is very smart and he will see through GVR at some point.
Isn’t the “stock issue” a bit overblown?