, . The freestanding store was later replaced with a new anchor store located in the Houston Galleria in 1970. Americas +1 212 318 2000. [18] In 1987 Bergdorf Goodman was acquired by the Neiman Marcus Group. These retailers offer luxury apparel, accessories, jewelry, beauty and decorative home products. from 8 AM - 9 PM ET. The hunt for opportunity remains a daunting challenge amid recession fears and historic volatility. I am confident that her experienced leadership in both public and private companies will be an asset to NMG as we evolve with a rapidly changing industry.. Neiman Marcus Group names new CFO Anne Stych, Staff Writer, Bizwomen Mar 18, 2022, 11:04am EDT Neiman Marcus Group Katie Anderson, CFO, Neiman Marcus Group Neiman Marcus Group. Anderson will drive all financial functions for the Company as well as risk management, real estate, supply chain, and track progress towards the luxury retailer's growth execution and strategy. The process worked by comparing information on the recipient to a computerized I am confident that her experienced leadership in both public and private companies will be an asset to NMG as we evolve with a rapidly changing industry.". Build your family tree online ; Share photos and videos [38], In 2014 Neiman Marcus acquired German luxury fashion e-commerce platform mytheresa.com and its flagship store Theresa from its founders Christoph and Susanne Botschen and venture capital firm Acton Capital Partners. "NMG's financial strength and powerful brand positioning of Neiman Marcus and Bergdorf Goodman as the integrated luxury retailer of choice speaks to their ongoing investments in their customers, luxury brand partners, and associates. SOURCE Neiman Marcus Holding Company, Inc. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! our Subscriber Agreement and by copyright law. Neiman Marcus Group Names Katie Anderson Executive Vice President When I go and talk to a brand now, I talk about newness and brand exclusivity, not discounting. Brenwirt Neuhausen - Overview, Competitors, and Employees Image courtesy of NMG By Luxury Daily News Service U.S. retailer Neiman Marcus Group has hired a new chief financial officer as it moves forward with a growth mindset. [32] Geoffroy was appointed as Chief Executive Officer of Neiman Marcus Group in February 2018. [28][29][30], Neiman Marcus Group, Ltd. LLC and 23 affiliated debtors filed Chapter 11 bankruptcy in the United States District Court for the Southern District of Texas in May 2020. 2 min read. Of these, 70 are in North America. As the visionary leader in Neiman Marcus Groups (NMG) integrated luxury retail transformation, Geoffroy van Raemdonck is enabling strategic and performance-driven business decisions at NMG, encouraging and fostering innovative thinking, and leading NMGs growth strategy, Revolutionizing Luxury Experiences across stores, e-Commerce, and remote selling. While it let some people go, the company brought in a slew of new leadership executives to strengthen customer experience, digital capabilities, merchandising, strategy, corporate culture and corporate communications. The Neiman Marcus Group has named Katie Anderson executive vice president and. Neiman Marcus just lost its financial chief to the owner of Men's Wearhouse a company that may be in even worse financial shape than the struggling luxury retailer. After emerging from bankruptcy protection in September, the retailer. We looked at the numbers and couldnt see customers who shopped at Last Call and then became Neiman Marcus customers and built a relationship with us. We made a clear choice that were going to do one thing and do it well. In the current financial year, our North America business is set to become larger, in profit terms, than our U.K. High Street business and we see significant opportunities to grow this further.. Diane von Furstenberg Returns to Hong Kong After Two-year Hiatus. Anderson joins the Company with a strong tenure of leading financial strategy and reporting at notable private and public companies. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. I cover retail and the global traveling shopper. "[35][36], The Neiman Marcus Group owned majority interest in Kate Spade LLC, a manufacturer of handbags and accessories. Neiman Marcus filed for C hapter 11 bankruptcy protection last week, and a lot of the blame was (rightly) put on the upscale retailer's massive debt load though the Coronavirus was cited as the. Rather than take a chance on an unknown "sugary soda pop business," the three entrepreneurs rejected the fledgling Coca-Cola company[8] and chose instead to return to Dallas to establish a retail business. WWD and Women's Wear Daily are part of Penske Media Corporation. "Our Christmas Book is tradition," shares Daz McColl, chief marketing officer at Neiman Marcus. The Christmas Book first launched in 1926 as essentially a 16-page Christmas card to customers. About The Neiman Marcus Group, LLCNeiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Neiman Marcus also had a letter of intent to open a 120,000 square foot store in downtown Cleveland in 1992 as part of an anchor for the upscale Tower City Center. With the luxury market poised to slow down, whats your focus now? Its all about doubling down and asking our teams to strengthen customer relationships.. With the successful implementation of our restructuring, Neiman Marcus and Bergdorf Goodman will continue to be the preeminent luxury shopping destinations for years to come. We emerge from Chapter 11 as a stronger, more innovative retailer, brand partner and employer, van Raemdonck said in a statement. The 50-piece collection featured apparel, accessories and even some gifts for dogs. All Rights Reserved. Adam Orvos, who has been chief financial officer of the Dallas-based company since April 2018, is scheduled to depart Oct. 11 to join another company, Neiman Marcus said this week. Before his Neiman Marcus days, Gotthard spent almost nine years at Ralph Lauren, leaving as vice president of finance for Europe, Middle East and Africa, a role he held for four years. (Photo by Ilya S. Savenok/Getty Images for Neiman Marcus). Anderson is another strong addition to NMG's woman co-founded and majority-women-led organization. (Neiman Marcus Group Inc.)", "Neiman Marcus Denies Reports Of Bergdorf Goodman Sale", "Stanley Marcus, Advertising Hall of Fame", "Neiman Marcus files for initial public offering of stock", "Neiman Marcus names Geoffroy van Raemdonck CEO, replacing Karen Katz", "Neiman Marcus has invested in an online secondhand luxury handbag store in its bid to woo millennial and Gen Z shoppers", "Exclusive: Neiman Marcus to File for Bankruptcy as Soon as This Week-Sources", "The Death of the Department Store: 'Very Few Are Likely to Survive', "After A Year Of Sweeping Change, Neiman Marcus Holds Tight To Tradition In Its Christmas Book", "Neiman Marcus, the Retailer to the Rich, Stumbles Into Bankruptcy", "With Last Quarter Sales Up 30%, Neiman Marcus Is Prepared For Changing Economic Winds", "S. Roger Horchow, Retailer Turned Broadway Producer, Dies at 91", "Have You Heard of Mytheresa.com? All told, NMG plans to invest more than a half-billion over the next three years in support of its integrated luxury retail strategy.. In 1952, Stanley Marcus introduced a new tradition of having extravagant and unusual gifts in each year's Christmas catalog, The Christmas Book. The Neiman Marcus Group has named Katie Anderson executive vice president and chief financial officer, filling an important role at a pivotal time for the luxury retailer. WHSmith swipes Neiman Marcus CFO | CFO Dive However, NMG did not disclose any actual dollar figures for the top or bottom lines. Fiscal 23 is all about making choices, doubling down, and asking our teams to really focus in a volatile environment to strengthen customer relationships. Van Raemdonck, Neimans CEO since 2018, believes getting through any slump requires winning over a greater number of wealthy shoppers at a time the rich are getting richer. As one of the largest multi-brand luxury retailers in the U.S.,with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Between 1942 and 1944, sales at Neiman Marcus grew from $6 million to $11 million. Geoffroy van Raemdonck | LinkedIn Link Copied! Women shop at Neiman Marcus at Hudson Yards in New York on March 14, 2019. The whole premise is to ensure that everyone feels a little fantasy in every gift that they get and give, he continues. Neiman Marcus Group CEO Geoffroy van Raemdonck Honored at the 74th through a $200 million investment. General Cinema, later to become Harcourt General, still had a roughly 60% controlling interest until 1999, when Neiman Marcus was fully spun off from its parent company. [9][11][20], Over the last 20 years, ownership of Neiman Marcus has passed through several hands. The results of van Raemdoncks transformation of the company are being realized. He currently resides in Dallas, TX with his husband and two children. 2023 Fortune Media IP Limited. The Company's NMG|Way culture fosters belonging and operates with a growth mindset. How do you reconcile those competing pressures? This half hour special highlights the key moments from the conference. Andersons appointment furthers NMGs reputation for advancing women. As Neimans indicated in its announcement on Anderson, the company is investing in its digital first strategy, to grow online sales and strengthen engagements with shoppers through different channels. Marcus had been the architect behind the fashion shows, New York advertising for a strictly regional chain, in-store art exhibits, and the Christmas catalog with its outlandish His-and-Hers gifts, including vicua wool coats, a pair of airplanes, "Noah's Ark"[failed verification] (including pairs of animals), camels, and live tigers. Its important for our long-term growth that we always have the next winner in our stable. Luxurys torrid growth coming out of the pandemic was bound to fall back down to Earth. Our Christmas Book is tradition, shares Daz McColl, chief marketing officer at Neiman Marcus. Cision Distribution 888-776-0942 Sixty-eight percent of all corporate and store employees are women. Our customers know the big brands, but theyre also looking for something other retailers dont have. Geoffroy was appointed as Chief Executive Officer of Neiman Marcus Group in February 2018. baerig-gut.de Before other companies were worried about supply chain snags, NMG invested $85 million in new systems for order and warehouse management. WHSmiths North America business, mostly developed through the acquisitions of both MRG and InMotion, is in a period of high growth due to store expansions across airports and resorts in North America. There are plenty of signs of a luxury slowdown:Nordstrom reported a 1.7% drop in sales at its upscale business over the holiday season, a smaller dip than the one at its Rack discount business but a decline nonetheless, while Saks recently announced layoffs. One proposition was for $25,000, which they accepted so . Clients included Hope Portocarrero, Lyndon Johnson, Howard Hughes, and the Shah of Iran, Mohammad Reza Pahlavi and his family. Neiman Marcus Group names new CFO - The Business Journals "[53]:50-51, In 2012, Neiman Marcus partnered with Target Corporation to create a holiday collection featuring 24 designers from the Council of Fashion Designers of America (CFDA). list of the 2,200 items available at Neiman-Marcus, then providing a printout of the 10 best suggestions. There is a very large number of high-net-worth individuals, people worth more than $5 million to $10 million. Website. Women represent the majority of the board of directors, more than 50 percent of those holding the position of vice president and above are women. Prior to NMG, Geoffroy served in leadership roles at Ralph Lauren and Louis Vuitton and was Chief Executive Officer of St. John Knits. He has prioritized Environmental, Social, and Governance (ESG) standards throughout the organization and fostered an inclusive NMG|Way culture powered by the concept of Belonging and making life extraordinary. SOURCE Neiman Marcus Holding Company, Inc. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. In spite of the Panic of 1907 set off only a few weeks after its opening, Neiman Marcus was instantly successful, and its first several years of operation were quite profitable. Pinstripes Hires Dale Stapleton, Former Neiman Marcus SVP/CFO, As Chief The company also said it is investing to enhance stores, data, technology and the supply chain. By signing up you agree to receive content from us. NMG | Management - Neiman Marcus Group Its part of our tradition., This is a BETA experience. (Photo by Ilya S. Savenok/Getty Images for Neiman Marcus), Crate And Barrel Takes A Purposeful Turn As Home Furnishing Demand Drops, How Brands And Retailers Are Reacting To Threads, Reformation Opens A New NYC Flagship, Taking Its Tech-Forward Retail To The Next Level, London Calling: 5 Businesses Helping To Evolve The City, Why It Took A Civilian To Save The Militarys $8.5 Billion Retail Operation, Decrypting The Web3 Strategy Behind Dior Mens Connected B33 NFT Sneakers, Copenhagen Airport Chooses Heinemann For A Further 10-Year Retail Stint, Viktor & Rolfs Haute Couture Swimwear, AZ Factory Takes Couture To Gen-Z, Elie Saab Partners Aubade Paris, It now operates 37 Neiman Marcus and two Bergdorf Goodman stores. DALLAS, March 17, 2022 /PRNewswire/ -- Neiman Marcus Group("NMG" or the "Company") announces today the appointment of Katie Anderson to Executive Vice President, Chief Financial Officer, beginning April 4, 2022. While Marshall Retail Group and InMotion are some distance from luxury retail, both cater to a traveling consumer with high-spending power. [44], In April 2022, Farfetch Limited agreed to a $200 million minority investment in the Neiman Marcus Group,[45] aiming to stimulate growth through the stores' use of Farfetch's "Platform Solutions" e-commerce marketplace.[43][46]. As of mid-2022 the company operates 36 Neiman Marcus stores in the United States and two Bergdorf Goodman stores in Manhattan. This is a BETA experience. During his tenure, he has turned the business trajectory positive, built a leadership team committed to digital excellence, and enhanced NMGs unique ability to serve customers while Leading with Love at the highest levels to drive new, global growth. Neiman Marcus still celebrates Christmas. In addition, nearly half of Neiman Marcus stores . And 2% of our customers are still a fraction of that population in the U.S. NMG's Interim Chief Financial Officer Mark Weinsten will transition from his role with the Company following Anderson's appointment. On Wednesday, NMG reported adjusted earnings before interest, taxes, depreciation and amortization growth of 15 percent for its second fiscal quarter compared to the same holiday period pre-COVID-19. "As we continue to execute our growth roadmap, Revolutionizing Luxury Experiences, ensuring we make decisions that drive sustainable and profitable growth as well high customer lifetime value is key to our long-term success," said van Raemdonck. "Katie's accomplished background and financial acumen will guide NMG as we deliver against our key priorities to make life extraordinary for our customers, luxury brand partners, and associates. Each investigation is recounted by award-winning journalists and the people who are living the story. His rise in the luxury industry included senior jobs at. Our customers look forward to it. Herbert Marcus Sr., a former buyer with Dallas' Sanger Brothers department store, had left his previous job to found a new business with his sister Carrie Marcus Neiman and her husband, Abraham Lincoln Neiman, then employees of Sanger Brothers competitor A. Harris and Co. This year it has grown to 200 pages and some 750,000 copies were printed for mailing and distribution through the stores. The title of our book is not exclusionary in any way. The company has also been attracting younger customers, with the average age falling by seven years from pre-pandemic levels, from the mid-40s to the high-30s. Anderson will report to Geoffroy van Raemdonck, chief executive officer of the Neiman Marcus Group, and will be responsible for all financial functions, as well as risk management, real estate, supply chain and tracking progress in the companys strategies. Call Us One of your biggest moves as CEO was to close the Neiman Marcus Last Call outlet stores that had allowed you to reach a more discount-oriented shopper in 2020. "It's something tangible when it arrives in your . Adam Orvos has been named chief financial officer of the Neiman Marcus Group, taking over the role from Dale Stapleton who has been serving as interim cfo since . Get Milen Simeonov's email address (m*****@abv.bg) and phone number at RocketReach. The luxury retailer says its operations are improving and that its new CFO will track progress in the strategies. Plenty of eatable treats are on offer too. They realize we are luxury experts and have a unique customer base they cant necessarily access. Geoffroy van Raemdonck, CEO of Neiman Marcus photographed on January 19, 2023 at Bergdorf Goodman in New York, New York. On May 2, 2005, Neiman Marcus Group was the subject of a leveraged buyout (LBO), selling itself to two private equity firms, Texas Pacific Group and Warburg Pincus.[21]. Gotthard is also likely to have had some dealings with the airport channel from his Ralph Lauren days when the brand had boutiques in European airports. [5][6][7] Since September 2021, NMG has been owned by a group of investment companies led by Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management. The new dedicated brand role is established to fuel acceleration by strengthening the brand and customer experience. Dive Brief: Tailored Brands hired Brandy Richardson as its new chief financial officer, effective Nov. 8, according to a press release. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. [31] The debtors requested joint administration of the cases under Case No. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Genealogy profile for Mariane Simon. Its something tangible when it arrives in your home. Neiman Marcus Group alum Kevin Gotthard was appointed as CFO, North America at WHSmith, a brand of the British retailer WH Smith PLC, which operates stores in airports and other travel hubs, the company announced on Nov. 30. In November 2013 the firm discovered a 25-carat rough diamond off Namibia's coast, which was valued with a reserve price tag of $1.85 million.