Neiman Marcus reinvests and unveils hybrid workspaces
Neiman Marcus has made a number of investments in expanding its supply chain, renovating its stores, launching a new app, and most recently new hybrid workspaces, its CEO Geoffroy van Raemdonck tells Axios.
Why it matters: The Dallas-based luxury retailer has invested $300 million in such efforts since 2021, a sign its investors remain committed to overhauling the business, he says.
Details: Neiman Marcus recently opened a new workspace in Dallas for hybrid workers as part of its remote-first approach following the pandemic, van Raemdonck says.
- It refers to the offices, which includes locations in New York City and Bangalore, as corporate hubs — a work style intended to emulate the company's omnichannel approach to retail, he says.
Be smart: The switch to corporate hubs has cut corporate office expenses by 30%, showing how such moves can impact the bottom line, van Raemdonck says.
- Neiman Marcus' remote-first approach to work has led to a 34% increase in employee net promoter score (eNPS) since January 2020 and a 20% reduction in time to hire, it says.
Zoom in: Prior to the pandemic, Neiman Marcus polled its workers and found they wanted better work and life balance, so it decided to allow them not to be in the office and to work in different places, van Raemdonck says.
- That shift was accelerated by the pandemic.
Of note: van Raemdonck is relocating from Dallas to New York City this summer to be closer to the press, fashion industry and brands, he says.
Plus: Neiman Marcus is also building out its supply chain and fulfillment network by expanding its operations in Pinnacle Park and adding a new distribution center on the East Coast for both Neiman Marcus and Bergdorf Goodman.
- The Neiman Marcus mobile app, meanwhile, adds combines e-commerce with digital styling and remote selling tools.