U.S. holding company Saks Global is reevaluating its operational plans in Texas.
On March 28, the business announced that the Neiman Marcus Downtown Dallas store will remain open through the holiday season, despite previous assertions that it would close at the end of the month. The decision was reversed after consultation between senior leadership and city officials; the corporation will look to reinvent the space into a “new, innovative format.”
“We deeply admire the city's passion and unwavering dedication to Neiman Marcus’ storied legacy in Dallas,” said Marc Metrick, CEO of Saks Global, in a statement.
“The potential reimagination of this iconic shopping destination reinforces Saks Global’s commitment to redefining the luxury shopping experience,” Mr. Metrick said. “As we explore opportunities for the Downtown store, along with the planned renovation at the NorthPark store, we will evaluate the opportunity to utilize both locations to serve different customer needs in the Dallas market.”
Next steps
Several different concepts are being explored for the Downtown Dallas location, including experiential luxury retail, art exhibition, fashion event space and apparel design and manufacturing incubator options.
These proposals will keep the Neiman Marcus brand in the city center, where it has been a constant presence since 1907.
Neiman Marcus Downtown Dallas’s Zodiac Room restaurant and Bridal Salon will remain operational through the holiday season as well. Image credit: Neiman Marcus
“We are excited that Saks Global has decided to keep Neiman Marcus open downtown, as we explore the opportunity to unlock the potential to transform downtown into an international beacon and economic engine for fashion – just as the Neiman Marcus founders intended when they opened the store more than 100 years ago,” said Kimberly Bizor Tolbert, Dallas city manager, in a statement.
“We look forward to exploring what‘s on the horizon and are committed to continuing our conversations with the Saks Global team.”
Last month, Saks Global announced the store's closure due to its failure to negotiate a more commercially viable lease agreement with the building’s landlords (see story).
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