Case Analysis: Neiman Marcus Group Student’s Name Institution Course Instructor Date 1 Case Analysis: Neiman Marcus Group Case Overview Neiman Marcus Group is a holding company based in Dallas Texas and it operates four major retail brands namely Horchow (home furnishings), Last Call (clearance centers), Bergdorf Goodman, and Neiman Marcus. Mally (2015) affirms that the company was founded in 1907 when Neiman and Marcus' families launched their initial store in Dallas. The retailer carried out an expansion strategy across the United States to become a fashion stronghold for wealthy consumers and celebrities looking for luxurious handbags and clothing. The target market for Neiman Marcus is the top 2% of the US earners, unlike other chains of department stores such as Macy’s and JCPenny that appeal to the mass market (Best, 2020). Neiman Marcus faced hurdles in recent years owing to a shift in purchasing behavior of consumers to online shopping and competition with discount retail chains. The stiff competition is attributed to the entry of luxury e-commerce enterprises including Farfetch Ltd and Yoox Net-A-Porter Group (YNAP). The increased competition and struggles caused Neiman Marcus to crumple under its huge debt load that comprised increased interest expenses associated with its out-of-court restructuring plan. The prolonged closure of stores as a result of the Covid-19 outbreak negatively affected the company's sales thus sealing the fate of Neiman Marcus (Miyaka ...
Purchase document to see full attachment