Neiman Marcus is quietly in talks to amass new company office house in Dallas — and the negotiations are stoking anxiousness in regards to the swanky retailer’s future.
The struggling luxurious chain is near finalizing a deal for new workplaces in Dallas to accommodate just a few hundred folks, sources advised The Post. That’s in comparison with the 1,500 company staffers who used to schlep to 3 completely different buildings in Dallas earlier than the pandemic, two of which it exited in chapter final year.
Some insiders have fretted that the talks are a sign that Neiman is lastly poised to go away its flagship retailer in downtown Dallas — a beloved metropolis landmark that has additionally served because the company’s headquarters for greater than a century.
In a Thursday assertion to The Post, Eric Severson, Neiman’s Chief People & Belonging Officer, mentioned, “We have no plans to close our Dallas Downtown flagship.”
Others, in the meantime, question whether or not it is smart for the cash-strapped retailer to be shelling out for extra office house now, provided that many Neiman executives haven’t been working in Dallas for the reason that pandemic and a Chapter 11 restructuring upended the company’s business final year.
“The building is supposed to house senior leaders and be the face of the company,” an nameless employee griped on the EthicsPoint platform. “This makes no sense as many of our senior leaders don’t live in Dallas.”
“The idea of getting a building so this group can meet three or four times a year is fiscally irresponsible,” the employee added. “This clearly is not the Dallas-based company that was founded [more than a century ago].”
Since March 2020, senior executives at headquarters reporting to Chief Executive Geoffroy van Raemdonck have been working remotely. Those embrace president David Goubert, who briefly moved to Dallas from Miami after which moved again to Florida. Bob Kupbens, chief product and know-how officer, lives in San Francisco.
The company’s chief authorized officer, Hannah Kim, lives in St. Louis. Chief merchandising officer Lana Todorovich lives in New York City as does style and life-style director Lisa Aikin. Insiders inform The Post that the work-from-home coverage is probably going everlasting.
Van Raemdonck, who has a house in Dallas, lives six weeks out of the year in Europe and 6 weeks from his dwelling in the Hamptons in addition to an residence in New York City, in response to the nameless put up.
“Trust level with GVR is at an all time low,” one other employee advised The Post, referring to van Raemdonck. “And people are wondering about the status Neiman Marcus in Dallas and why most senior leaders have either left Dallas or have never come”
In his written assertion to The Post, Neiman’s Severson didn’t reply particularly to questions on Neiman’s plans for new office house.
“Any discussion on creating a space where our associates can collaborate and co-create will be offered in addition to giving associates flexibility,” Severson mentioned in the assertion. “Retention of associates has gone up and the time to fill an open position has gone down due to the flexibility and remote options that we provide our associates since implementing this policy.”
Neiman has reportedly weighed leaving its downtown Dallas flagship — a nine-story, Renaissance Revival tower constructed in 1914 — for a long time as lots of the metropolis’s well-heeled customers fled to the suburbs in the Eighties.
“It’s a low-traffic store that doesn’t do a lot of business” one supply near the company mentioned. Neiman doubtless holds onto it, the supply added, as a result of the company owns the vast majority of the constructing and its company identification is tied to Dallas.
The employee who submitted the grievance conceded that there are rumors the Dallas retailer might “shrink” however that administration is loath to shut it totally “because of tradition.” Several flooring of office house above the shop are largely vacant.
“Neiman Marcus is an institution in Dallas and [the current management] probably doesn’t want to invite a hue and cry,” by pulling up stakes, mentioned a 3rd supply with direct ties to the company.
Still, mentioned a fourth supply, “There has been a lot of discussion for a long time about closing the store.”