Neiman Marcus

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Neiman Marcus

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

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