Just after last week's Neiman Marcus Group (NMG) announcement of the opening of Neiman Marcus' first New York City store comes a new reason to celebrate: NMG's planned acquisition of mytheresa.com, the global online luxury business. In addition, NMG will acquire the THERESA flagship specialty fashion store in Germany.

The Munich-based mytheresa.com was founded by Christoph and Susanne Botschen in 2006 as a way to expand the reach of the THERESA store. THERESA has long been established as the premier luxury multi-brand fashion store in Munich since its founding in 1987. Mytheresa.com is well known for its highly curated mix of more than 170 luxury brands and for its depth of selection. The key categories are women's ready-to-wear, shoes, handbags and accessories.

"With the acquisition of mytheresa.com, Neiman Marcus Group takes yet another strategically significant step toward our long-range international strategy to more broadly serve the affluent customer around the world. We are excited to add mytheresa.com and the THERESA store to our prestigious portfolio of brands," said Karen Katz, President and CEO Neiman Marcus Group.

We couldn't be more excited to welcome mytheresa to the family!