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Interior of flagship Dallas location in 2009

Key Information

Interior of flagship Dallas location in 2010
Logo on a storefront

Neiman Marcus is an American upmarket department store chain founded in 1907 in Dallas, Texas by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman. The company is known for its luxury merchandise, including its annual offerings for the holiday season, inclusive of its Fantasy gifts. It was owned by the Neiman Marcus Group from 1987 to 2024, which also included Bergdorf Goodman and the clearance outlet Neiman Marcus Last Call, among others. In 2024 it was acquired by Saks Global. As of 2025 Neiman Marcus had 36 stores throughout the United States.[1]

History

[edit]

1907–1949

[edit]
Neiman Marcus original store 1907–1913 at Elm and Murphy

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. In 1907, the trio had US$25,000 (equivalent to $843,661 in 2024) from the successful sales-promotion firm they had built in Atlanta, Georgia, and two potential investments of funds. Rather than take a chance on an unknown "sugary soda pop business," the three entrepreneurs rejected the fledgling Coca-Cola company[2] and chose instead to return to Dallas to establish a retail business. For this reason, early company CEO Peb Atera was quoted in 1957 as saying in jest that Neiman Marcus was "founded on bad business judgment."[3] The store, established on September 10, 1907, was lavishly furnished and stocked with clothing of a quality not commonly found in Texas. Within a few weeks, the store's initial inventory, mostly acquired on a buying trip to New York made by Carrie, was completely sold out. Oil-rich Texans, welcoming the opportunity to flaunt their wealth in more sophisticated fashion than was previously possible, flocked to the new store. 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.[4]

In 1914, a fire destroyed the Neiman Marcus store and all of its merchandise. A temporary store was opened for 17 days.[5] By the end of 1914, Neiman Marcus opened at its new, permanent location at the corner of Main Street and Ervay Street. With the opening of the flagship Neiman Marcus Building, the store increased its product selection to include accessories, lingerie, and children's clothing, as well as expanding the women's apparel department. In its first year at the new building, Neiman Marcus recorded a profit of $40,000 on sales of $700,000, nearly twice the totals reached in its last year at the original location.[4]

In 1927, the store expanded, and Neiman Marcus premiered the first weekly retail fashion show in the United States.[6] The store staged a show called "One Hundred Years of Texas Fashions" in 1936 in honor of the centennial of Texas's independence from Mexico. A later profile of the store, "Neiman Marcus of Texas", described the "grandiose and elaborate" gala, noting: "It was on this occasion that one of the most critical among the store's guests, Mrs. Edna Woolman Chase, editor of Vogue, expressing the sentiment of the store's starry-eyed clientele, told the local press:[3]

I dreamed all my life of the perfect store for women. Then I saw Neiman Marcus, and my dream had come true.

— Edna Woolman Chase, editor of Vogue (1936), quoted in Commentary 1957

In 1929, the store began offering menswear. During the 1930s and 1940s, Neiman Marcus began to include less-expensive clothing lines along with its high-end items, in response to the Great Depression and following war years. Between 1942 and 1944, sales at Neiman Marcus grew from $6 million to $11 million.[4] Despite a major fire in 1946, the store continued to profit.

1950–1999

[edit]

Herbert Marcus Sr. died in 1950, and Carrie Neiman died two years later, leaving Stanley Marcus in charge of the company's operations.[4][7]

The 1950s saw the addition of a $1.6 million store at 8300 Preston Road in the Preston Center; the location been occupied by a Tootsies store since the 1990s.[8] It was a 63,000-square-foot (5,900 m2) store "inspired by the art and culture of Southwestern Indians" and "colors ... copied from Indian weaving, pottery, and sand paintings". The themed decor included Kachina figures on colored-glass murals and an Alexander Calder mobile named "Mariposa,"[9] the Spanish word for butterfly. Art likewise was used as inspiration for Stanley Marcus' seasonal campaigns to solicit new colors in fabrics, as he did the year that he borrowed 20 Paul Gauguin paintings — many of which had never been publicly exhibited — from collectors around the world and had the vivid colors translated into dyes for wool, silk, and leather. Area teachers cited the Gauguin exhibits as spurring a dramatic increase in art study.[10]

In the 1950s and 1960s, Gittings operated a portrait studio in Neiman Marcus. Clients included Hope Portocarrero, Lyndon Johnson, Howard Hughes, and the Shah of Iran, Mohammad Reza Pahlavi and his family. A late 1960s Christmas Book featured portraits of Wyatt Cooper, his wife Gloria Vanderbilt, and children Carter and Anderson Cooper.

The company continued its extravagant marketing efforts (including the launch of His and Her gifts in the famous Christmas Book) with the inauguration of Fortnight in 1957. The Fortnight was an annual presentation of fashions and culture from a particular country, held in late October and early November of each year, and was one of the most anticipated events in Dallas. It brought fashion, dignitaries, celebrities, exotic food and extravagant celebrations to the downtown store for 29 years.[4][11]

In 1955, Neiman Marcus acquired Ben Wolfman, Inc. which operated a 9-story store, The Fashion, in Downtown Houston. Wolfman stayed on to run the store, which became branch of Neiman Marcus,[12] the first store outside the Dallas/Fort Worth Metroplex. The freestanding store was later replaced with a new anchor store located in the Houston Galleria in 1970. In 1965 the Preston Center store was closed and a new store, more than twice as big, was opened at NorthPark Center. Another branch in Fort Worth was also opened. By 1967 the four Neiman Marcus stores in operation were generating annual sales of $58.5 million, and the company's profit for that year was in excess of $2 million.[4] In 1968, the company merged with Broadway-Hale Stores, Inc., which enabled Neiman Marcus to expand at a much faster pace than would have been possible as an independent entity. In 1971, the first Neiman Marcus outside Texas opened in Bal Harbour, Florida. In subsequent years stores opened in over 30 cities across the United States, including Atlanta, Pittsburgh, Charlotte, Beverly Hills, Boston, Chicago, Las Vegas, Minneapolis, San Francisco and St. Louis. 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. However, the project did not come to fruition, instead opening its concept store in the 1990s.[13] In 1987 Bergdorf Goodman was acquired by the Neiman Marcus Group.[14] In the 1980s, the hyphenated spelling of the company name ("Neiman-Marcus") was abandoned.[15]

Neiman Marcus in Boston's Copley Place

2000–2010

[edit]

Stanley Marcus died on January 22, 2002. He had served as president and chairman of the board for the company. 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 vicuña wool coats, a pair of airplanes, "Noah's Ark"[failed verification] (including pairs of animals), camels, and live tigers.[3][5][16]

Over the last 20 years, ownership of Neiman Marcus has passed through several hands. In June 1987, the company was spun off from its retail parent, Carter Hawley Hale Stores, and became a publicly listed company. 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. 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.[17]

The "Neiman-Marcus Collection," comprising early account books, advertising and Christmas Catalog layouts, files on charity activities, past awards and presentations, and a collection of Stanley Marcus's personal memorabilia, among many other items, is located in the Texas & Dallas History & Archives Division, 7th Floor, Main Library, Dallas Public Library, where it may be consulted by researchers.

2010–2019

[edit]

In August 2013, Women's Wear Daily reported Neiman Marcus Group was preparing for an initial public offering of its stock.[18] In October 2013, the Neiman Marcus Group was sold for $6 billion to Ares Management and the Canada Pension Plan Investment Board.[19][20] In August 2015, the company again announced it was preparing for an initial public offering.[21] In late 2015 Neiman Marcus became a stand-alone company.

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. The diamond was referred to as the "Nam Diamond".[22]

In 2018 Geoffroy van Raemdonck replaced Karen Katz as CEO.[23]

In April 2019, Neiman Marcus acquired a minority stake in Fashionphile, an online resale platform for handbags, jewelry and accessories.[24][25][26]

2020–present

[edit]

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.[27] The debtors requested joint administration of the cases under Case No. 20-32519. According to the company's CEO, Geoffroy van Raemdonck, the filing was a direct result of the COVID-19 pandemic in the United States. The company's website, mytheresa.com, was not part of the bankruptcy.[28] At the end of September 2020, Neiman Marcus exited Chapter 11 bankruptcy, and as of 2022 is owned by a consortium of investment firms (Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management).[29]

In July 2021, mytheresa was spun off and filed for IPO on the NYSE, valuing it at $2.2 billion which increased to $3 billion during the first day of trading.[30]

In August 2020, it announced the closing of six stores: Mazza Gallerie in Washington D.C.; Natick Mall in Natick, MA; Hudson Yards in New York City; The Galleria at Fort Lauderdale; Worth Avenue in Palm Beach, Florida; and Downtown Bellevue near Seattle.[31]

In June 2022, Neiman Marcus Group reported their highest sales volume in almost half of their stores, and sales of their 20 best-selling brands grew by 70% above pre-COVID pandemic levels in 2019. 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.[32]

In December 2024, Neiman Marcus was acquired as part of the $2.7B Neiman Marcus Group acquisition by Saks Global.[33]

In February 2025, Neiman Marcus announced it would close its flagship store in Downtown Dallas on March 31, 2025, after nearly 120 years. After Dallas city officials intervened the store remains open.[34]

In September 2025 it was announced that The Shops at Willow Bend store would close in January 2027.[35]

On January 14, 2026, Saks Global filed for Chapter 11 bankruptcy protection after struggling with heavy debt relying on its acquisition and merger of Neiman Marcus. The company also blamed a rapid consumer shift in luxury goods due to inflating prices.[36]

Timeline of department store openings

[edit]
Year

Opened/ Closed

Mall or district City Metro Area State (US) or

country

Gross

floor area (sq ft)

Type Remarks
1907 1913 Downtown Dallas Dallas Dallas/Fort Worth TX 400,000 O Original Store. burned down in 1913
1914 open Downtown Dallas Dallas Dallas/Fort Worth TX O Replaced Original 1907 store. Neiman Marcus flagship.
1951 1965 Preston Center Dallas Dallas/Fort Worth TX 30,000 O Neiman's first suburban store. Moved to Northpark Center when opened in 1965.
1965 open NorthPark Center Dallas Dallas/Fort Worth TX 164,000 Replaced Preston Center store.
1967 1976 Camp Bowie District Fort Worth Dallas/Fort Worth O Moved to Ridgmar Mall in 1976. Building is now Fort Worth ISD Admin Building.
1969 open The Galleria Houston Houston TX 224,000
1971 open Bal Harbour Shops Bal Harbour Miami FL
1974 open Plaza Frontenac St. Louis St. Louis MO
1976 2017 Ridgmar Mall Fort Worth Dallas/Fort Worth TX 119,000 O Store replaced stand-alone Houston location. Relocated again to The Shops at Clearfork in 2017.
1976 open Northbrook Court Northbrook Chicago IL
1977 2020 Mazza Gallerie Washington, D.C. Washington, D.C. Washington, D.C. 130,000 Closed due to the Covid-19 pandemic.
1979 2001 Prestonwood Town Center Dallas Dallas/Fort Worth TX Mall was demolished and store moved to the Willow Bend mall.
1979 open Beverly Hills Beverly Hills Los Angeles CA 184,000 L Formerly owned, sold and started lease in 2026.
1978 open Fashion Island Newport Beach Los Angeles CA 163,000
1981 open The Westchester White Plains New York NY Formerly a standalone Bergdorf Goodman, converted to Neiman Marcus in 1981. Left standalone and moved into the mall later. Stand-alone was adjacent to mall building.
1981 open Fashion Show Las Vegas Las Vegas Las Vegas NV
1982 open Union Square San Francisco San Francisco CA 250,000 L Formerly owned, sold and started lease in 2026.
1982 open Fashion Valley San Diego San Diego CA
1982 open Oakbrook Center Oak Brook Chicago IL
1982 2020 The Galleria at Fort Lauderdale Fort Lauderdale Miami FL Closed due to the Covid-19 pandemic.
1983 open Michigan Avenue Chiago Chicago IL 195,000 L Building sold in 2022, currently on a lease.
1983 open Copley Place Boston Boston MA 115,000 O Plans to expand the store and the mall in the 2010's fell through.
1983 2006 Town & Country Mall Houston Houston TX Originally planned to be part of new development after mall was torn down in 2005, but later closed and demolished.
1985 open Stanford Shopping Center Palo Alto San Francisco CA 120,000
1988 open Tysons Galleria Tysons Washington, D.C. VA
1991 open Cherry Creek Shopping Center Denver Denver CO
1991 2013 Nicollet Mall Minneapolis Minneapolis/Saint Paul MN
1992 open Scottsdale Fashion Square Scottsdale Phoenix AZ
1992 open Somerset Collection Troy Detroit MI 141,000
1995 open The Mall at Short Hills Short Hills New York NJ 129,000
1996 open King of Prussia King of Prussia Philadelphia PA 138,000
1996 open Garden State Plaza Paramus New York NJ 150,000
1998 open International plaza & Bay Street Tampa Tampa FL 96,000
1999 open Ala Moana Center Honolulu Honolulu HI 160,000
2000 2020 Palm Beach Gardens Palm Beach Gardens Miami FL 48,000 Closed due to the Covid-19 pandemic.
2001 2027 The Shops at Willow Bend Dallas Dallas/Fort Worth TX 150,000 Moved from the former Prestonwood Center in 2001.
2002 open Shops at Merrick Park Coral Gables Miami FL 135,000
2005 open Town Center at Boca Raton Boca Raton Miami FL 145,000
2005 open The Shops at La Cantera San Antonio San Antonio TX 122,000
2006 open SouthPark Charlotte Charlotte NC Opened in an undeveloped Anchor pad originally meant for Saks Fifth Avenue
2007 2022 Natick Mall Natick Boston MA 94,000 O Closed in 2022 due to the Covid-19 pandemic.
2007 open The Domain Austin Austin TX 84,000
2008 open Westfield Topanga Los Angeles Los Angeles CA 120,000
2009 2020 The Shops at the Bravern Bellevue Seattle WA 125,000 Closed in 2020 due to the Covid-19 pandemic.
2012 open Roosevelt Field Hempstead New York NY 100,000
2017 open The Shops at Clearfork Fort Worth Dallas/Fort Worth TX 90,000
2019 2020 Hudson Yards New York New York NY 188,000 Closed in 2020 due to the Covid-19 pandemic.

Corporate affairs

[edit]
Renaissance Tower is the headquarters of the Neiman Marcus Group, also in Dallas.

Neiman Marcus is still in operation today under the original name and is still headquartered in Dallas, where it was founded. The Neiman Marcus Group comprises the Specialty Retail stores division including Neiman Marcus Stores and Bergdorf Goodman. These retailers offer luxury apparel, accessories, jewelry, beauty and decorative home products. As of mid-2022 the company operates 36 Neiman Marcus stores in the United States and two Bergdorf Goodman stores in Manhattan.[37] Neiman Marcus' largest market is the South Florida MSA, where they operate five stores. The company also operates five "Last Call" clearance centers and the online luxury furniture outlet Horchow.com."[38][39]

The Neiman Marcus Group owned majority interest in Kate Spade LLC, a manufacturer of handbags and accessories. In October 2006, the company purchased all minority interest for approximately $59.4 million, and in November 2006 sold 100% ownership to Liz Claiborne, Inc. for approximately $121.5 million. Another divestiture was a majority interest in Gurwitch Products LLC, which manufactures Laura Mercier cosmetics, to Alticor Inc., for approximately $40.8 million.[40]

In 2013, Neiman Marcus settled a federal claim for falsely claiming that some of their products contained fake fur when tests by the Humane Society of the United States showed it was actually real fur from raccoon dogs. Neiman Marcus did not admit guilt, but promised to adhere to federal fur labeling laws (the Fur Act) for the next twenty years.[41]

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. The luxury fashion online store ships worldwide and offers designer clothing, shoes, bags and accessories for women.[42][43]

In 2019, Neiman Marcus creditor, Marble Ridge Capital, had a lawsuit against Neiman Marcus dismissed after the claim of inappropriate transfer of the company's MyTheresa assets was dismissed by a Texas judge due to lack of subject-matter jurisdiction.[44]

In March 2020, Neiman Marcus Group launched an app called NM Connect, which allows salespeople to communicate directly with customers via texts, email, phone and video calls.[45]

In June 2021, Neiman Marcus Group acquired Stylyze, an e-commerce platform, to expand the company's e-commerce capabilities.[46] Users connect to Neiman Marcus Group using the proprietary app Connect.[47]

In April 2022, Farfetch Limited agreed to a $200 million minority investment in the Neiman Marcus Group,[48] aiming to stimulate growth through the stores' use of Farfetch's "Platform Solutions" e-commerce marketplace.[46][49]

Awards

[edit]

The Neiman Marcus Award for Distinguished Service in the Field of Fashion was established in 1938 and awarded annually until 2016. In November 2022,[50][51] it was announced that the award would return in 2023.[52][53] Two new awards were introduced in 2023: the Neiman Marcus Award for Creative Impact in the Field of Fashion, and Innovation in the Field of Fashion.[54] Past award recipients include: Christian Dior in 1947,[55] Coco Chanel in 1957,[56] Carolina Herrera in 2016[57] and Brunello Cucinelli in 2023.[58]

The Christmas Book

[edit]

"His and Hers" and "Fantasy" gifts

[edit]
In 1969, customers could buy a $10,600 kitchen computer to help with recipes.

Since 1939, Neiman Marcus has issued an annual Christmas catalog, which gets much free publicity from the national media for a tradition of unusual and extravagant gifts not sold in its stores. Some have included the "his and hers" themed items, trips and cars (see below).

In 1952, Stanley Marcus introduced a new tradition of having extravagant and unusual gifts in each year's Christmas catalog, The Christmas Book. The idea was sparked when journalist Edward R. Murrow contacted Marcus to ask if the store would be offering anything unusual that might interest his radio listeners. Marcus invented on the spot an offering of a live Black Angus bull accompanied by a sterling silver barbecue cart, and the catalog was subsequently altered to include this item, priced at $1,925.[59][60][61] At one point, the Neiman Marcus Christmas catalog carried the distinction of being the item most stolen from recipients' mailboxes, prompting a Chicago postmaster to suggest the company switch to enclosing the catalogs in plain brown wrappers.[62]: 22–25 

Neiman's fantasy gifts in the Christmas Book have included a $20 million submarine, mummy cases that contained an actual mummy, seats from Ebbets Field, and a $1.5 million Cobalt Valkyrie-X plane; the most expensive item was a Boeing Business Jet for over $35 million.[63]

Other Christmas gifts

[edit]

In 1961, Neiman-Marcus in Dallas was one of two stores in the nation — the other being Wanamaker's in Philadelphia — to offer computer-based assistance in selecting Christmas gifts. The process worked by comparing information on the recipient to a computerized list of the 2,200 items available at Neiman-Marcus, then providing a printout of the 10 best suggestions. One person testing the computer filled out the questionnaire as if he were President John F. Kennedy shopping for gifts in excess of $1,000 for his wife; the computer suggested a yacht.[64]

During the Apollo 8 mission in December 1968, Marilyn Lovell, wife of astronaut Jim Lovell, who was the Command Module Pilot, received, as a Christmas present, a mink coat that was delivered to her by a Neiman Marcus driver in a Rolls-Royce car. The coat was wrapped in royal blue wrapping paper with two Styrofoam balls — one for the Earth and the other for the Moon — and had a card that read, "To Marilyn, from the Man in the Moon."[65]: 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). The 50-piece collection featured apparel, accessories and even some gifts for dogs.[66]

Data breach

[edit]
Main article: Snowflake data breach

In 2024, Neiman Marcus suffered a data breach and extortion attempt as part of the Snowflake mass hacking campaign. The data stolen included information from both Neiman Marcus and Bergdof Goodman companies, including personally identifiable information (PII) nearly 30 million Neiman Marcus customers. The stolen data also included partial credit card numbers, and purchase history for all of the store's online customers, and more than 12 million customer gift card numbers. Neiman Marcus filed regulatory documents in Maine and Vermont.[67][68]

[edit]

Dating back as early as the 1930s, rumors started to circulate about a woman and her daughter who were out to lunch at Neiman Marcus and for dessert shared a chocolate chip cookie that they loved so much they asked the server for the recipe. The server said that the recipe would cost "two fifty" and the woman agreed. However, she was in disbelief when she was charged $250 for the recipe instead of what she thought would be $2.50. The rumor eventually became xeroxlore and a chain letter.[69]

In 1997, after the rumor had progressed to an infamous e-mail forward, the company released a statement that the story was an urban legend. As a sign of good faith, the store also released a version of their cookie recipe for free to all customers to try.[70]

In 2025, the British sound artist Andrew Spackman released an album inspired by the cookie recipe hoax, through Mortality Tables on Bandcamp.[71]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Neiman Marcus

View on Grokipedia
from Grokipedia
Neiman Marcus is an American luxury chain headquartered in , , specializing in high-end fashion, accessories, jewelry, beauty products, and home furnishings, with a reputation for exceptional , innovative merchandising, and exclusive offerings. Founded in 1907 by siblings Herbert Marcus Sr. and Carrie Marcus Neiman, along with Carrie's husband A.L. Neiman, the company pioneered luxury apparel in a single location, emphasizing quality, style, and value for a broad clientele rather than elite custom tailoring. As of January 2025, Neiman Marcus operates 36 full-line stores across 18 states, primarily in upscale urban and suburban markets, complemented by its robust e-commerce platform and specialty formats like Last Call clearance outlets. In December 2024, the Neiman Marcus Group was acquired by Saks Global for $2.7 billion, integrating it with Saks Fifth Avenue and Bergdorf Goodman to create a dominant multi-brand luxury retail powerhouse serving affluent consumers worldwide. From its inception, Neiman Marcus distinguished itself through bold innovations, such as launching the iconic Christmas Book catalog in , which featured extravagant "Fantasy Gifts" like a jet airplane or a rare diamond—items that blended whimsy with opulence to captivate holiday shoppers. The chain expanded rapidly post-World War II, opening its first out-of-state store in 1971 and growing to approximately 25 locations by the late 1980s, while maintaining a family-led under subsequent generations of the Marcus family until its shift to public ownership in and later backing amid financial challenges, including a 2020 filing resolved through . Today, under Saks Global's umbrella, Neiman Marcus continues to emphasize personalized experiences, such as dedicated style advisors and private events, while navigating a competitive landscape dominated by digital natives and luxury brands.

History

Founding and early years (1907–1949)

Neiman Marcus was founded on September 10, 1907, in , , by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband A. L. Neiman, who used $25,000 earned from selling their previous millinery business in to launch the venture. The trio had taken a buying trip to to acquire high-end European , including clothing, gloves, and fine accessories, which they sold from a modest 8,600-square-foot store at the corner of Elm and Murphy streets in . This approach differentiated Neiman Marcus from typical stores by emphasizing fashionable, imported merchandise tailored to affluent customers, with Carrie Neiman playing a key role in selecting trendsetting items and fostering personal customer relationships through attentive service. The business was incorporated as Neiman-Marcus Company in 1908, allowing for structured growth amid early challenges, including a in 1913 that prompted a relocation to a larger space at Main and Ervay streets. By the , the store had expanded significantly, doubling its footprint in 1927 to accommodate increasing demand for its upscale offerings, while introducing innovative personal shopping services that provided customized advice and home deliveries to build loyalty among Texas's elite. Carrie's focus on fashion-forward merchandising, combined with Herbert's operational expertise and A. L.'s financial oversight, solidified the store's reputation for exceptional and quality, attracting a clientele of oil tycoons and socialites. The Great Depression posed severe challenges, but Neiman Marcus survived by diversifying into more moderately priced practical items while maintaining its core luxury appeal for its wealthy patrons, incurring losses in only two years during the 1930s. During World War II, material shortages and rationing further tested the business, leading to strategies such as stocking utilitarian goods like household essentials and workwear alongside limited high-end imports, ensuring continuity through adaptive merchandising that prioritized customer needs. These efforts, guided by the founding family's commitment to service, preserved the store's viability and laid the groundwork for postwar recovery.

Expansion and diversification (1950–1999)

In the post-World War II era, Neiman Marcus began its national expansion by opening its first suburban branch at Preston Center in in 1951, marking a shift from its downtown flagship to serve growing suburban populations. This was followed by the acquisition and rebranding of an existing specialty store in in 1955, establishing the company's first location outside and capitalizing on the city's booming oil economy. By the , further branches opened in Fort Worth (1965) and (1972), allowing Neiman Marcus to penetrate new markets in the Southwest and Southeast while maintaining its focus on high-end and . Under the leadership of , who became president in 1950 following his father's death, the company emphasized personalized luxury shopping experiences, including in-store fashion shows and custom consultations that differentiated it from competitors. In 1969, Neiman Marcus merged with Broadway-Hale Stores (later Carter Hawley Hale), providing capital for accelerated growth while Marcus continued to guide merchandising strategy until his retirement as president in 1972. This period solidified the brand's reputation for innovation, with expansions into additional U.S. cities and an emphasis on exclusive designer collections. The launch of the Neiman Marcus Book in its modern fantasy format during the late 1950s, featuring extravagant "His and Hers" gifts like diamond-studded airplanes starting in 1959, transformed the catalog into a cultural phenomenon that enhanced brand visibility nationwide. By the , the catalog's growth complemented physical store expansion, reaching millions of households and driving mail-order sales that accounted for a significant portion of revenue. During the 1980s and 1990s, Neiman Marcus diversified its offerings by expanding into home furnishings, fine jewelry, and beauty products, while acquiring Bergdorf Goodman in 1971 to bolster its New York presence. That same year, the company was spun off from Carter Hawley Hale as an independent public entity, enabling focused investments in new stores and merchandising. Early e-commerce experiments culminated in the 1999 launch of neimanmarcus.com, pioneering online luxury retail amid the dot-com boom. Stanley Marcus, who had transitioned to chairman emeritus, fully retired from active involvement around 1988, leaving a legacy of excellence as the retailer adapted to changing consumer landscapes.

Digital era and acquisitions (2000–2019)

In 1999, Neiman Marcus launched its platform, neimanmarcus.com, as a significant step into digital retail, allowing customers to browse and purchase online while integrating features like in-store pickup to bridge physical and virtual shopping experiences. This early adoption built on the company's longstanding catalog tradition, evolving printed wish books into interactive digital formats that enhanced accessibility for affluent consumers. By the mid-2000s, the platform had grown to support a broader range of merchandise, including apparel, accessories, and home goods, with sales contributing meaningfully to overall revenue as online luxury shopping gained traction. A pivotal shift occurred in 2005 when TPG Capital and acquired Neiman Marcus Group for $5.1 billion in cash, taking the company private and ending its public trading status since 1987. This ownership injected capital for strategic investments, emphasizing operational efficiency and brand enhancement amid a competitive retail landscape. Under this structure, the company expanded its footprint, growing to over 40 full-line stores by the late 2010s, alongside formats like the Neiman Marcus outlets, which offered discounted luxury items to capture value-conscious shoppers without diluting the core brand. The outlets, launched in the but expanded during this era, reached up to 38 locations by 2017, serving as a complementary channel to the flagship stores in high-end markets. Technological advancements became central to Neiman Marcus's strategy, with the 2012 introduction of the NM Service enabling personalized shopping assistance, such as connecting customers to dedicated sales associates via real-time notifications and purchase history access. Further investments included data-driven tools, like features in the app by 2014, which allowed users to snap photos of items for instant product matches and recommendations tailored to individual preferences. These innovations supported an approach, syncing online inventories with in-store availability to facilitate seamless experiences, such as buy-online-pickup-in-store options. Facing intensifying competition from pure-play online luxury retailers like Net-a-Porter in the , Neiman Marcus responded with store remodels to modernize layouts and elevate experiential elements, investing in capital projects that boosted revenues at renovated locations. This rivalry, coupled with shifting consumer behaviors toward digital-first purchasing, prompted a focus on omnichannel integration, including enhanced loyalty programs and targeted marketing to retain high-value clients. By prioritizing these adaptations, the company aimed to differentiate its service-oriented model from disruptors, maintaining relevance in a fragmented luxury market through the end of the decade.

Bankruptcy, merger, and restructuring (2020–present)

In May 2020, Neiman Marcus Group filed for Chapter 11 bankruptcy protection amid the pandemic's impact on luxury retail, including widespread store shutdowns that exacerbated its existing financial strains from approximately $5 billion in debt accumulated through prior leveraged buyouts. The filing, initiated on May 7 in the U.S. Bankruptcy Court for the Southern District of , was supported by a agreement with major creditors, securing $675 million in to sustain operations during the proceedings. The company emerged from in September after less than five months, having eliminated over $4 billion in debt and reduced annual interest expenses by $200 million, leaving it with a restructured of approximately $3.3 billion in total debt. Ownership transitioned to a of investment firms, including , , and Sixth Street, which provided $750 million in exit financing to support ongoing operations and strategic investments. This new ownership structure positioned Neiman Marcus to focus on long-term recovery, building on pre- foundations that enabled a pivot to digital channels during the crisis. From 2023 to 2024, Neiman Marcus pursued recovery through targeted store optimizations and enhanced digital integration, investing over $200 million in physical location upgrades to improve customer experiences while streamlining its footprint. Digital sales grew to represent about 30% of total revenue by 2024, reflecting a strategic emphasis on omnichannel capabilities that blended online personalization with in-store services. These efforts contributed to double-digit revenue increases compared to pre-pandemic levels, though challenges from economic headwinds persisted. In December 2024, Neiman Marcus completed a $2.7 billion merger with and , forming Saks Global as a unified luxury retail platform under ownership to consolidate operations, leverage shared supply chains, and compete more effectively against brands. The transaction, finalized on December 23, integrated the brands' portfolios while maintaining distinct identities, aiming to drive efficiencies in and . In February 2025, Saks Global announced plans to close Neiman Marcus's historic flagship store, initially scheduled for March 31, 2025, but later extended through the 2025 holiday season, after 117 years of operation, attributing the decision to a lease termination notice from the landlord amid escalating operational costs and a strategic shift toward suburban and optimized formats. The closure, despite city intervention to resolve the dispute, redirected resources including a $100 million investment in the location to align with evolving consumer preferences for accessible luxury retail environments. In 2025, Saks Global faced sales declines of 13% year-over-year in the first half, amid broader luxury market headwinds, while announcing additional closures such as the Plano Willow Bend store.

Corporate affairs

Ownership and leadership

Neiman Marcus was founded in 1907 by Herbert Marcus Sr., his sister Carrie Marcus Neiman, and her husband A.L. Neiman as a family-owned specializing in luxury apparel. The company remained under family control through the Marcus and Neiman descendants until 1969, when it was acquired by Broadway-Hale Stores, Inc., for approximately $40 million, marking the end of direct family ownership. During this period, , son of cofounder Herbert Marcus Sr., served as president from 1950 to 1972 and later as chairman until 1976, overseeing significant expansion and innovation in luxury retailing. His brother, , succeeded him as CEO from 1979 to 1988, guiding the company through national growth amid the transition to corporate ownership. Broadway-Hale, which rebranded as Carter Hawley Hale Stores in the 1970s, held Neiman Marcus until 1987, when it spun off the retail operations as the independent Neiman Marcus Group, with General Cinema Corporation acquiring a 60% majority stake in exchange for its prior investment in Carter Hawley Hale. General Cinema's ownership continued until the early 1990s, when it merged its retail interests into Harcourt General, Inc., which maintained control through the decade. In 2005, The Neiman Marcus Group went private in a $5.1 billion leveraged buyout led by private equity firms TPG Capital and Warburg Pincus LLC. This ownership shifted again in 2013, when TPG and Warburg Pincus sold the company for $6 billion to a consortium including Ares Management LLC and the Canada Pension Plan Investment Board. Following its 2020 Chapter 11 bankruptcy filing amid the , Neiman Marcus emerged restructured in September 2020, having eliminated over $4 billion in debt, with emerging as the largest shareholder and securing three of seven board seats to influence governance during recovery. The reconstituted board included CEO Geoffroy van Raemdonck as chair, alongside representatives from major creditors like , , and , emphasizing financial stabilization and digital transformation. Van Raemdonck, appointed CEO in 2018, led through the until departing in 2024 following the company's acquisition by Saks Global. In late 2024, Saks Global, backed by investors including Amazon and , completed a $2.7 billion merger with Neiman Marcus Group, integrating it into a unified luxury platform under CEO Marc Metrick, who oversees operations across , Neiman Marcus, and as of 2025.

Financial overview

Neiman Marcus experienced significant growth over decades, expanding from approximately $350 million in annual sales by to a peak of $4.66 billion in fiscal 2019, driven by store expansions and catalog operations. This growth reflected the company's positioning in the luxury retail sector, with revenues reaching $3.7 billion by fiscal 2010 through diversification into and international elements like the acquisition. In May 2020, Neiman Marcus filed for Chapter 11 bankruptcy protection amid the , reporting approximately $5 billion in assets and $5 billion in liabilities, primarily due to a heavy debt load exceeding $5 billion. The restructuring plan, approved by the court in September 2020, eliminated over $4 billion in debt and reduced annual interest expenses by $200 million, with creditors providing a $1.35 billion equity infusion to support emergence from bankruptcy by late September 2020. Following bankruptcy, Neiman Marcus saw a rebound, achieving $4.65 billion in fiscal 2021, a 39% increase from the prior year, bolstered by recovering in-store traffic and digital sales. By fiscal 2023, revenues reached $4.5 billion, with contributing significantly to growth amid a shift toward strategies, though comparable store sales declined 9.4% in the third quarter due to aspirational consumer pullback. In , Neiman Marcus was acquired by Saks Global in a $2.7 billion deal, with expected combined revenue of approximately $7.4 billion for fiscal .[](https://www.businesswire.com/news/home/2024 1223806550/en/Saks-Global-Completes-Acquisition-of-Neiman-Marcus-Group) The merger aimed to enhance scale in a competitive market, with initial quarterly figures showing combined sales of $1.9 billion in Q1 2024. By 2025, Saks Global implemented cost-saving measures as part of broader synergies expected to yield approximately $200 million in fiscal 2025, including the planned closure of Neiman Marcus's and the flagship store after the 2025 holiday season, amid a luxury market slowdown evidenced by a 13% sales drop to $1.6 billion in Q2 2025. These actions addressed weakening credit metrics and declining profitability, with Q1 2025 revenues down 14% year-over-year. The planned closure of the flagship was extended, keeping it operational through the 2025 holiday season to explore reimagination options.

Store operations and locations

Neiman Marcus operates approximately 36 full-line stores across 18 U.S. states as of 2025, with a concentration in major markets such as , , , and New York. The retailer also maintains a network of outlet stores under the Neiman Marcus banner, featuring discounted luxury merchandise at locations like in , alongside temporary pop-up experiences in select full-line stores to highlight designer collaborations. While Neiman Marcus previously pursued international franchises in regions including the , its current physical retail footprint remains focused on the following post-bankruptcy consolidations. The original flagship store in , which traces its roots to the company's 1907 founding and formal opening in 1914, remains operational as of late 2025, with Saks Global extending its hours through the holiday season to explore reimagination options amid property redevelopment discussions. This location exemplifies the retailer's shift toward experiential formats, incorporating in-store amenities such as salons, restaurants, and interactive installations to enhance beyond traditional shopping. Newer full-line stores, like the Hudson Yards outpost in , emphasize modern luxury architecture and integrated services to attract urban clientele. In terms of operational strategies, Neiman Marcus introduced RFID technology in the to improve accuracy and enable features like smart mirrors for virtual try-ons, achieving up to 98% precision in stock tracking at select locations. Sustainability initiatives include the adoption of eco-friendly materials starting in 2018, as part of broader efforts to reduce waste through partnerships with brands focused on recyclable and reusable options. Following the 2024 merger with Saks Global, Neiman Marcus is integrating operations with locations, including shared inventory systems for online fulfillment that are set to expand to in-store by 2026, aiming to streamline supply chains and enhance efficiency across the combined portfolio.

Signature offerings

The Christmas Book catalog

The Neiman Marcus Christmas Book, a of the retailer's holiday marketing, originated in as a 16-page booklet designed as an extension of earlier invitations sent to customers since to encourage in-store holiday shopping. Over the decades, it has evolved into a substantial exceeding 100 pages by the , with circulation reaching more than 1.5 million households by the late 2000s. This growth reflects the catalog's transformation from a simple gift guide into a cultural blending aspiration and whimsy, particularly after the introduction of "fantasy gifts" in the late under Stanley Marcus's direction. The catalog's structure balances accessible, practical gifts—such as apparel, jewelry, and home goods—with extravagant fantasy items like custom yachts or private jets, often priced in the millions, to capture the imagination of affluent shoppers. A portion of proceeds from these fantasy gift sales supports charitable causes, including arts education through The Heart of Neiman Marcus Foundation and other nonprofits, underscoring the retailer's philanthropic commitment during the holiday season. This dual approach not only drives sales but also positions the as a of luxurious , with early experiments in catalog formats tracing back to brief promotional mailers in the store's founding years. Curated annually by Neiman Marcus buyers who scout unique offerings from global vendors, the catalog is printed and distributed each October to align with peak holiday planning. A digital version has been available since the early 2000s, allowing online browsing and purchases that complement the physical edition. The Christmas Book has significantly amplified Neiman Marcus's holiday performance, contributing substantially to seasonal revenue through heightened customer engagement and direct orders. In 2024, following the retailer's integration into Saks Global through a merger with Saks Fifth Avenue, the edition was rebranded as the "Holiday Book" while retaining its core format and fantasy elements. Post-2020, amid the retailer's bankruptcy restructuring, the catalog shifted to a hybrid print-digital model, maintaining annual production but emphasizing online accessibility to adapt to changing consumer behaviors and e-commerce growth. This evolution includes enhanced digital features, such as interactive shopping tools, ensuring the catalog's enduring role in holiday luxury marketing.

Luxury merchandise and services

Neiman Marcus specializes in a curated selection of luxury merchandise, with fashion comprising the majority of its offerings, including designer apparel, accessories, shoes, and handbags from prestigious brands such as and . The retailer also features categories in products, fine jewelry, and home furnishings, emphasizing high-end, aspirational items across its stores and online platforms. To enhance the shopping experience, Neiman Marcus provides personalized services, including the InCircle , launched in 1984 as the first of its kind in retail, which rewards members with points on purchases and exclusive perks, serving hundreds of thousands of participants. Additional offerings encompass complimentary personal styling sessions by in-house experts and hosting of private events for high-value clients, fostering deeper customer relationships. The company's merchandise is sourced through direct partnerships with over 2,000 luxury brands, enabling exclusive collections and timely access to new releases. This includes a longstanding tradition of buying trips to , initiated by co-founder Carrie Marcus Neiman in the store's early years to secure European couture and inspire American luxury retail. In recent innovations, Neiman Marcus introduced the Fashioned for Change initiative in 2022, curating sustainable and ethical product edits across apparel, accessories, and beauty to promote eco-conscious luxury while aiming to increase such sales to 10% by 2025. The retailer expanded same-day delivery options in select markets starting in 2021, partnering with providers to fulfill online orders rapidly from in-stock inventory. Following the 2024 merger with Saks Global, completed in December, Neiman Marcus gained expanded access to Saks-exclusive merchandise and shared inventory systems as of 2025, enhancing cross-brand availability for customers. These core offerings extend seasonally through the Christmas Book catalog, which highlights unique luxury items.

Notable incidents

2013 data breach

In December 2013, Neiman Marcus discovered a significant when its alerted the company to suspicious activity involving customer credit cards. A forensic investigation confirmed that had infected point-of-sale (POS) systems at numerous stores, capturing unencrypted data during transactions. The intrusion affected approximately 350,000 credit and debit cards used between July 16, 2013, and October 30, 2013, across 77 locations nationwide, though only about 9,000 to 40,000 cards showed signs of fraudulent use. The breach stemmed from hackers installing RAM-scraping on the POS terminals, which extracted card numbers, expiration dates, and magnetic stripe data from the system's before occurred. While the exact remains undisclosed, investigations suggested exploitation of network vulnerabilities, potentially via a third-party or remote access, similar to contemporaneous retail attacks like the one at Target. No customer names, addresses, or personal identification numbers (PINs) were compromised, limiting the scope to financial data theft. Neiman Marcus immediately isolated and removed the malware upon discovery, collaborated with cybersecurity firms and federal law enforcement, and enhanced to prevent lateral movement by intruders. Neiman Marcus publicly disclosed the incident on , 2014, notifying potentially affected customers via and offering one year of complimentary credit monitoring and protection services. The company also advised customers to review statements and contact their card issuers for reissuance. In the immediate aftermath, Neiman Marcus upgraded its PCI Data Security Standard (PCI DSS) compliance protocols, implemented endpoint detection tools for POS systems, and conducted comprehensive vulnerability assessments. These measures included annual third-party security audits and mandatory employee training on and access controls, contributing to no comparable POS breaches in subsequent years. The breach triggered several class-action lawsuits filed in early 2014, alleging negligence in data protection. These were consolidated in the U.S. District Court for the Northern District of , with plaintiffs claiming increased risk of and out-of-pocket expenses. In March 2017, the cases settled for $1.6 million, providing class members with merchandise credits of up to $100, reimbursement for documented losses up to $2,500, and free credit monitoring; the settlement received final court approval in December 2017. Separately, a 43-state investigation culminated in a $1.5 million settlement in January 2019, which required Neiman Marcus to adopt additional safeguards like of card data in transit and regular penetration testing. The urban legend about Neiman Marcus's chocolate chip cookie recipe claims that in the 1940s, a customer dined at the store's cafe, ordered what was billed as "the best cookie I've ever had," and later received a $250 charge for the recipe when she inquired about it. The story posits that the price was adjusted to $2.50 per cookie for a batch of 100, infuriating the woman who then shared the "secret" formula far and wide as an act of revenge against the luxury retailer's perceived gouging. This narrative evolved from earlier tales of overpriced recipes, such as a 1930s legend involving the Waldorf-Astoria hotel and a red velvet cake, adapting the motif of elite establishments exploiting customers for culinary secrets. The myth proliferated in the via chain letters and early forwards, often framed as a triumphant tale of consumer empowerment, with recipients urged to distribute it to as many people as possible to "stick it to" Neiman Marcus. By the , it appeared in anthologies and folklore collections, solidifying its place in as a symbol of corporate excess amid the rise of chain retail. In truth, the chocolate chip cookie itself was invented in the 1930s by Ruth Wakefield, who added chopped chocolate to her dough at the in , leading to the iconic Toll House recipe that Neiman Marcus never claimed or sold. The retailer has consistently provided recipes for free through its catalogs and publications, with no record of charging for any, and the hoax version—featuring ground oats, gratings, and large yields—bears little resemblance to their actual offerings. Notably, Neiman Marcus did not even serve in its cafes until 1997. Facing decades of , Neiman Marcus publicly debunked the in through statements and media outreach, tracing early chain letters to a woman in and affirming they had never imposed such a . To dispel the rumor, the company released its official cookie recipe online, inviting all to bake it without charge and turning the myth into a promotional opportunity. The enduring legacy of the tale has fostered a vibrant cultural footprint, with the hoax recipe becoming a staple in home baking circles, inspiring commercial adaptations like pre-packaged mixes and nods in films, books, and holiday traditions that evoke Neiman Marcus's aura of opulent indulgence. This folklore has amplified the brand's mythic allure, blending whimsy with critiques of luxury pricing in American retail history.

2024 data breach

In June 2024, Neiman Marcus disclosed that an unauthorized party accessed a between April and May 2024, potentially compromising personal information of approximately 64,472 customers, including names, contact details, dates of birth, and numbers. A subsequent report in July 2024 revealed a larger exposure of over 31 million unique addresses associated with the incident. The breach did not affect data or passwords. Neiman Marcus notified affected customers, offered two years of complimentary credit and protection monitoring, and implemented enhanced security protocols, including improved access controls and monitoring. The incident led to a class-action alleging inadequate data protection. In June 2025, a $3.5 million settlement was reached, providing eligible claimants with up to $500 in compensation for documented losses, free credit monitoring, and identity restoration services; final court approval was granted on October 23, 2025. As of November 2025, no further major impacts have been reported.

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  108. https://www.bleepingcomputer.com/news/security/neiman-marcus-data-breach-31-million-email-addresses-found-exposed/
  109. https://blackcloak.io/neiman-marcus-experiences-data-breach-fbi-issues-warning-over-crypto-scam/
  110. https://www.nmgsettlement.com/
  111. https://www.claimdepot.com/settlements/neiman-marcus-group-3-5-million-data-breach-settlement
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