Neiman Marcus Group Comparisons. HQ Location. Total Raised. Post Valuation. Last Financing Details. The company operates a global luxury platform offering women and men. Dallas, TX. Westerville, OH. Duis aute. Anaheim, CA. Add Comparison. Neiman Marcus Group Competitors Neiman Marcus Group Patents. Neiman Marcus Group Board Members Neiman Marcus Group Signals. Growth Rate 0. Weekly Growth 0. Size Multiple x Median.
Key Data Points Twitter Followers 5. Similarweb Unique Visitors Majestic Referring Domains Neiman Marcus Group Subsidiaries 3. Neiman Marcus Group Exits 3. Contact Us info pitchbook. Our selling associates do that so well every day, so how do we invest in technology that enables them to do that more — and then bring a deepening of people's perceived value and integration with the brand? Technology to improve personal relationships with customers is key, making services such as recommendations, one-to-one communications and store visits better, faster and more scalable.
By Kati Chitrakorn. In May , the group filed for bankruptcy , citing the pandemic as the catalyst. It permanently closed most of its off-price Last Call stores and its new Hudson Yards store, and has reopened all 43 Neiman Marcus stores and two Bergdorf Goodman stores. During the pandemic, luxury department stores in the US — after years of playing a crucial role in brand distribution strategies — gave up ground to online early adopters and to brands that found DTC channels offered more control and higher margins.
What you see is other folks vacate the space — some folks who are leaning more toward pure play or leaning more toward mass. This space of what's truly differentiated — integrated retail, luxury focused, unique experiences — is a place that we can really win. In June, NMG announced it was acquiring Stylyze, a software company that uses machine learning to make outfit recommendations based on what customers have looked at or purchased. Neiman Marcus has worked with the company since , and integrated it into NM Connect, the proprietary tool introduced two years ago that associates use to communicate with customers.
Retailers are racing to introduce technology that scales and improves associate capabilities. Already, Neiman Marcus uses Stylyze technology to generate product and outfit recommendations from its assortment.
Styling and providing recommendations is core to the value that sales associates provide daily, he says. He hints that there could be more acquisitions like this going forward. Stylyze uses machine learning to understand products and then find similar or coordinating items. Harris and Company; Sanger and Harris were the two leading department stores in Dallas at the time.
Neiman had also been in department-store sales and had met Carrie at the Harris store. The opening of Neiman Marcus took place under unpromising conditions. The country was in the midst of an economic recession known as the Panic of Both Carrie and Herbert Marcus missed the opening; Carrie was in the hospital recovering from a miscarriage, and Herbert was at home with typhoid fever.
Neiman Marcus tried to differentiate itself from other stores, such as Sanger Brothers and A. Harris, from the beginning. The founders emphasized that Neiman Marcus was not a department store but a specialty store, featuring women's outerwear and millinery. Marcus and the Neimans stressed high-quality, ready-to-wear items in an era when clothing was usually one or the other.
The store also developed a reputation for high prices as well as high quality, even though its founders depended primarily on the sale of medium-priced items. The store grew up along with Dallas and with Texas. The store's wealthier clientele represented mainly the cotton aristocracy of East and north central Texas. Later the oil-rich of East and West Texas added to Neiman's growing reputation regionally and nationally.
During the s two notable developments took place. Stanley Marcus , Herbert's eldest son, joined the business in ; "Mr. Stanley" later assumed leadership of the company. In a combination of business and personal disagreements led to the end of Al Neiman's association with Neiman Marcus.
The Great Depression of the s did not hit Neiman's as hard as it did other firms in other parts of the country.
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