After A Difficult Year, Neiman Marcus Attempts A Restart Just In Time For The Holiday Season

 

The arrival of the 2020 Neiman Marcus Christmas Book brings a certain sense of normalcy. It’s been a difficult year for the company and the country. However, the Neiman Marcus Christmas Book gives the retailer a restart and an opportunity for its readers to think beyond campaign rallies and COVID-19.

The 94th annual Neiman Marcus Christmas Book was officially released on Monday. The luxury retailer lists some of the items as “Fantasy Gifts.” As in past years, these offerings are largely out-of-reach for most shoppers but that is the point of the catalogue. For 103 years, that opulence has been the backbone of Neiman Marcus.


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Santa, accompanied by an introduction from CEO Geoffroy van Raemdonck, narrates the book’s digital presentation. This year’s Christmas Book includes a remote Alaska getaway for 5, complete with a private airplane and helicopter flight, Denali guides, and a exclusive chef with a $345,000 price tag. Also spotlighted are six rings from the famous Oscar Heyman collection valued between $100,000 and $190,000, a Bowlus luxury aluminum travel trailer for $255,000 and custom-made hats by Keith and James at $95,000 each. Over 400 specially curated items, at various price points, are also featured in the annual catalogue.

The Neiman Marcus Christmas Book does not avoid the toll 2020 has taken on the world. There are messages of hope and the need for celebration. The book states, “After a uniquely challenging year, we need to remember what brings us JOY, what touches our hearts, what makes us smile – we need the holidays more than ever.”

Neiman Marcus has had its own special difficulties during 2020. After its accumulated debt grew to $4 billion and COVID-19 temporarily closed its stores, Neiman Marcus filed for Chapter 11 bankruptcy protection on May 7. The painful process was widely reported and led to job losses and store closures from Washington state to Washington, DC.

One high-profile closure was the one-year old store located at Manhattan’s Hudson Yards complex. Neiman Marcus served as the main retail anchor at the massive complex, the largest private investment since Rockefeller Center. But the anticipated influx of shoppers and visitors was never adequately realized. By the time COVID-19 closed Hudson Yards’ luxury shopping mall, Neiman Marcus was well into its financial freefall. When quarantine restrictions were relaxed and the bankruptcy reorganization was underway, the retailer had every right and reason to abandon the much-celebrated but costly location.

Last spring, there was doubt whether Neiman Marcus could even survive 2020 without a liquidation. But as a rescue plan was developed and funds were secured, the Neiman Marcus Group fully emerged from bankruptcy protection on September 25.

Neiman Marcus survived the filing and still operates 38 stores across the country, in addition to its two Bergdorf Goodman stores in New York City along with its digital platforms.

One location that was frequently mentioned for possible closure was the flagship store in downtown Dallas, where Neiman Marcus was born. The store helped to establish Dallas as a cosmopolitan city, offering excess and luxury. Especially during its mid-century heyday, this Neiman Marcus carried more specialized couture goods than most exclusive shops located in New York and Paris.

Neiman Marcus operates six other stores throughout the Lone Star State and Dallas-Fort Worth residents know they don’t have to necessarily travel downtown to experience the store.

COVID-19 brought the downtown Dallas store one of its most challenging years, but the holiday decorations are up once again. The Zodiac Room restaurant will reopen on December 10. Unfortunately, the Holiday Buffet, a Dallas tradition, will not be offered this year, due to safety concerns.

The downtown Dallas store will continue to display its elaborate holiday windows. «Three of our windows will have our LED light system playing with animation,” says Amber Seikaly, Vice President of Corporate Communications. “One of our windows will have a collage of our 2020 Fantasy Gifts.”

Neiman Marcus had hoped to unveil its windows on Monday, coordinated with the Christmas Book’s release. But the windows are still covered in plywood, like many other businesses in the downtown area. Business districts across the country took no chances this November and prepared for potential protests related to the presidential election results. Last June, the building sustained heavy damage from demonstrations that followed the death of George Floyd.

Former CEO Stanley Marcus is often credited with Neiman Marcus’ success. Marcus was an iconic retailing figure, a true “merchant prince.” He had a flair for publicity and created a store that was fun, unique, and fashionable. Stanley Marcus introduced Christian Dior and Coco Chanel to America, established an annual international Fortnight celebration, one of Dallas’ biggest social events, and developed the outrageous Christmas Book.

Past Christmas Books have featured camels, robots, mummies, jets, and ivory cigarette cases, as well as a $35,000 wig spun from 24 karat gold.

The word “experience” is featured prominently in today’s Neiman Marcus press releases. Seikaly says, “[Experience] means we’re not solely focused on product, but the experiences and magic we can provide to our luxury customers.”

The retailer’s mission states, “What differentiates the organization from other luxury retailers are its unique assets: a strong store footprint, the most knowledgeable associates, an engaging online experience, solid brand partnerships, innovative digital and in-store experiences, the most loyal luxury customer base, and a strong balance sheet.”

After Stanley Marcus retired from the store’s leadership in the 1970s, some critics complained that Neiman Marcus became less exclusive, less fantasy-oriented,. They felt that it transitioned to just another high-end luxury retailer, with diminished magic and fantasy.

But the 2020 Neiman Marcus Christmas Book still revolves around fantasy. It proves that Neiman Marcus survived 2020 relatively intact. And after a year like 2020, Neiman Marcus Christmas Book’s devoted readers may just need a little fantasy, hope, and joy right now.

 

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