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Neiman Marcus
 

Neiman Marcus

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    Neiman Marcus Neiman Marcus Presentation Transcript

    • Nicole Cecchini Carrie Fox Amanda Morneault BA 495 Spring 2007
      • Founded in 1907 by Herbert Marcus, his sister
      • Carrie Marcus Neiman, and her husband Al Neiman.
      • First store was opened in downtown
      • Dallas, Texas, with the goal of
      • providing fine ready-to-wear
      • apparel and unsurpassed
      • customer service.
      • They turned a profit their first year
      • in business.
      • Mission Statement:
        • Our mission is to be the leading specialty retailer of fine merchandise to discerning, fashion-conscious consumers from around the world. We will strive to exceed customer expectations for service, quality and value as we build upon our longstanding tradition of excellence.
      • Target Market:
        • High-end fashion conscious consumers
        • Mainly women
      • Located in 18 of the 50 states, with no locations in Oregon or Washington.
      • Store Locations:
        • Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, North Carolina, Pennsylvania, Texas, Virginia, Washington D.C.
      • Competitors
      • Online Catalog
      • Items & Prices:
      $4310 $425 $495 $1095
    • History of Bergdorf Goodman
      • Edwin Goodman worked for Herman Bergdorf in his tailoring business before buying the business from Bergdorf in 1906
      • In 1914, Bergdorf became the first couturier to present ready-to-wear items, making the store a hot spot for premier French and American fashion
      • In 1928, the store moved to its present location, the former site of the Cornelius Vanderbilt mansion
      • In 1987, Bergdorf Goodman was united with Neiman Marcus and Neiman Marcus Direct to form the Neiman Marcus Group
      • In 1990, the Men’s store opened for business directly across the street at 745 Fifth Avenue
      • In 1999, the Beauty level opened below the main floor with 15,000 sq. feet containing eight spa rooms, skincare consultations and treatments, and Goodman’s café which serves lunch and afternoon tea.
      • In the Fall of 2004, Bergdorf Goodman goes online at BergdorfGoodman.com
    • Location
      • Store Address: 754 Fifth Avenue New York, NY 10019
      • The Men’s store is located directly across the street on Fifth Avenue
      • The main store includes 9 stories of luxurious goods and services
      • BG’s merchandise can also be purchased through Bergdorf Goodman Direct- the catalog and through their website
      • The stores 5 th Avenue neighbors include Tiffany & Co., Louis Vuitton, and the Plaza Hotel
    • “ We Carry the Best of the Best”
      • Napa
      • Gaufre
      • Bowler
      $2,520 Advanced Marine Biology Cream $175 London Blue Topaz "Jude" Ring $2,360 Faille Dress $3,950
    • BG Designers *Many of these labels have their own separate collections within the retail space
    • “ Neiman’s Richer Sister”
      • Specialty services emphasize the upscale merchandise and atmosphere that begets 5 th Avenue. These services include:
      • A 15,000 square foot full-service spa
        • Facials, Color Services, Eyebrow Design, Manicures, Make-up Application and lessons, Updos
      • Extensive complimentary personal shopping services (by appointment only) including
        • Bridal consultation
        • Fitting and tailoring
        • Assistance via the telephone or email
        • Gift selection
        • Separate personal shopping services for the Women’s and Men’s stores
        • Ability to reserve pieces from upcoming preview and trunk shows
        • Personalized or handmade clothing pieces
      • Optical services
        • Includes prescription lenses, custom tinting and shading
    • “ Neiman Marcus serves the country, while Bergdorf Goodman serves New York.” – Burt Tansky, Chief Executive Neiman Marcus Group
      • Target Customer
      • Extremely affluent customer looking for haute couture and exclusive designers: those that “seek the best”
      • Primarily upscale female shoppers residing in or visiting the Manhattan area
      • “ Wives and daughters of captains of industry and Wallstreet rainmakers”
    • “ There’s only one Bergdorf Goodman – and it deals only in the swankiest”
      • Bergdorf Goodman enjoys 12% of total sales for the Neiman Marcus group
      • Sales experienced a 12.7% increase in 2006
      • Annual sales average more than $1,500/ sq. ft.
      • One of only 4 locations in the United States allowed to sell French luggage
      • No pressure to expand- their positioning centers on its exclusivity
      • No other retail establishment offers such a plush mix of merchandise under one roof
    • “ It’s a Retreat For Our Clientele.”
      • Bergdorf Goodman Competes With…
        • Specialty boutiques, Saks 5 th Avenue, Bloomingdales, Nordstrom, Barney’s
      • BG could improve by…
        • Even better customer service (Nordstrom rated higher on the Luxury Institute’s customer experience index)
        • Knowing their customers better
      • One good thing they’re doing…
        • 5F brand: appeals to the market of younger women
        • "We have plenty of 15-year-olds buying Prada.” – Linda Fargo, Bergdorf's fashion director and senior vice president
      • Created in 1971
        • Roger Horchow: unique decorating items from around the world
        • Not affiliated with any brick and mortar store – catalog only
        • First to use toll-free phone numbers for ordering
        • Acquired by The Nieman Marcus Group in 1988
          • Under Nieman Marcus Direct
      • Goals
        • Superior customer service
        • High-end, quality products
        • Unique, global products
      • Locations – markets served
        • Anywhere…with an address or internet connection
        • www.horchow.com
      • Products, pricing and other services
        • The Original Horchow collection
          • Fine furniture
        • Home collection
        • Fine Linen
        • Horchow Garden
        • Kitchen and Gourmet
          • Gourmet Food Service
        • Travel Service
          • Private Jet Excursions
          • Luxury Private Yacht Charters
        • Custom Swatch Service
        • Showrooms
          • Arizona, California, Illinois, Minnesota, Texas
      • Competition
        • Pottery Barn
        • Pier 1 Imports
        • Other industry competitors related to The Neiman Marcus Group
    • Peacock Shower Curtain $375 Liner$105 “ Contessa” Armchair $1799 Cashmere Throw original $895 On sale for $715.90…20% OFF!
      • Formed in 1987
      • Industry competition
        • Bloomingdales
        • Nordstrom
        • Saks Fifth Avenue
      • Sales (FY Begins in August)
        • 2005: $4.06B
        • 2006: $4.03B
        • 2007: 1 st Qtr. $1.04B, 2 nd Qtr. 1.290B
      • Recent news
        • October 2006 Purchase of Kate Spade, LLC $59M
          • Sold November 2006 to Liz Claiborne, Inc for $121.5M
        • May 2005 Leveraged Buyout (LBO)
          • Private equity firms Texas Pacific Group and Warburg Pincus
    • Bibliography
      • http://www.handbagdesigner101.com/images/img_celebrity/19/HUGE_lindsay_lohan2.jpg
      • http://www.dallasnews.com/sharedcontent/dws/bus/industries/retail/stories/031807dnbusbergdorf.3794ab0.html
      • http://www.bergdorfgoodman.com/
      • http://www.neimanmarcus.com
      • http://www.horchow.com
      • http://finance.yahoo.com
      • http://www.theneimanmarcusgroup.com
      • http://www.google.com