The store quickly became successful and began to expand. In 1926, the company opened its first out-of-state location in Minneapolis. The following year, it launched its iconic catalog. During the Great Depression, Neiman Marcus was one of the few retailers that continued to thrive.
In 1957, Stanley Marcus succeeded his father as CEO of Neiman Marcus. Under Stanley’s leadership, the company expanded aggressively, opening new stores and acquiring other luxury retailers such as Bergdorf Goodman. In 1971, Stanley retired and passed the CEO title to his son Richard Eisner.
In 1988, a group of investors led by Robert Jaffe acquired Neiman Marcus for $1.6 billion. In 2005, private equity firm TPG Capital acquired a minority stake in the company for $460 million. In 2013, Ares Management and Canada Pension Plan Investment Board acquired Neiman Marcus Group for $6 billion.
History of Neiman Marcus
Neiman Marcus is a high-end department store chain headquartered in Dallas, Texas. The company was founded in 1907 by Herbert Marcus, Sr., his sister Carrie Neiman, and her husband Albert Lasker. The store originally specialized in women's clothing and accessories, but it eventually expanded its offerings to include men's and children's clothing, home furnishings, and other consumer goods.
Neiman Marcus has long been associated with luxury and exclusivity. The company was one of the first to offer designer labels such as Chanel and Christian Dior, and it has been credited with popularizing the concept of the "personal shopper." Today, Neiman Marcus operates 43 stores across the United States, including its flagship location in Dallas' Highland Park Village.
Neiman Marcus is an American luxury retailer that offers a wide range of high-end products, from clothing and accessories to home decor and furniture. The company was founded in 1907 by Herbert Marcus, Sr., Edgar S. Marcus, and Carrie Neiman, and today operates around 40 stores across the United States.
Whether you’re looking for the latest fashion trends or classic pieces that will stand the test of time, Neiman Marcus has something to suit your taste. The company’s commitment to quality and customer service ensures that you’ll have a positive shopping experience, whether you’re shopping in-store or online.
Expansion of Neiman Marcus
Neiman Marcus is an American luxury retailer that was founded in Dallas, Texas, in 1907. The company is owned by the Neiman Marcus Group, which also owns the Bergdorf Goodman and Mytheresa brands.
The company was founded by Herbert Marcus, Sr., Carrie Marcus Neiman, and Edwin Saks with $25,000 in capital. The first store was located on Main Street in downtown Dallas. In 1914, the store moved to its current location on Elm Street.
In 1926, Neiman Marcus began offering mail-order catalogs, which helped the company expand its reach beyond Texas. The following year, the company opened its first branch store in Fort Worth.
During the Great Depression, Neiman Marcus was one of the few retailers that continued to prosper. In 1939, the company opened its first full-line store outside of Texas, in Bal Harbour, Florida.
Neiman Marcus continued to grow throughout the 20th century. In 1950, it became a public company and was listed on the New York Stock Exchange. In 1971, it was acquired by Carter Hawley Hale Stores Inc., which then took the company private again in 1987.
In 2005, Neiman Marcus was sold to TPG Capital and Warburg Pincus for $5 billion. In 2013, it was sold to Ares Management and Canada Pension Plan Investment Board for $6 billion. Today, Neiman Marcus operates 42 stores across the United States and Canada.
Neiman Marcus has come a long way since its humble beginnings in 1907. Today, it is one of the most recognized names in luxury retail, offering an unparalleled shopping experience to customers around the world. Whether you are looking for designer fashions or home furnishings, Neiman Marcus has something for everyone. By embracing innovation and staying true to their core values of quality and service, they have managed to remain at the top of the industry and cemented their place as a leader in American luxury retailing.