Celebrating Pride & Leading with Love for All

Pride Month is a moment when we, those who identify as LGBTQ, stand proudly and celebrate the journey, the struggles, and the progress we’ve made as a community. I am proud to lead an organization that cares to make a difference by leading with love. I invite you to take a few moments and allow me to share a few thoughts about why it is Neiman Marcus Group’s duty to advocate for LGBTQ rights, both in and outside of the workplace, during and outside of Pride month.

Geoffroy van Raemdonck, Chief Executive Officer at Neiman Marcus Group

LOVE will always lead the way! This is why we love Neiman Marcus soo much! Come into the beautiful world of Neiman Marcus.

Neiman Marcus Exits Bankruptcy, Looks to Reimagine Business

Serving as an unexpected light in the retail crisis brought on by the Covid-19 virus pandemic, Neiman Marcus has officially come out of Chapter 11 bankruptcy. According to reports, the luxury department store has cleared a sizeable amount of debts and has brought on new owners to reimagine its business.

Neiman Marcus has officially come out of bankruptcy, a process that left the upscale department store with a lighter debt load and new owners to confront the same industry trends that led to its financial woes.

The Ares Management Corp. and Canadian Pension Plan Investment Board have now sold their stakes in Neiman Marcus Holding Company Inc. to Pacific Investment Management Co., Davidson Kempner Capital Management and Sixth Street Partners. Accompanying the change of owners is new board comprised of six members including, Pauline Brown, the former chairman of North America for LVMH Moët Hennessy Louis Vuitton SE, and Kris Miller, the former chief strategy officer at eBay.

Under new management and board, the retailer eliminated more than $4 billion USD of existing debt and now looks to combat the continuing challenges that put it into bankruptcy. The new owners have also prepared a $750 million USD exit package that will go towards refinancing a loan and bring much needed liquidity to the business.

With the financial cleanup completed, Neiman Marcus and its Bergdorf Goodman store still must deal with the pandemic’s fallout, shopper defections to online merchants and a preference among younger customers for experiences instead of objects.

The current environment for a fashion luxury retailer isn’t ideal. The company was hit particularly hard by the pandemic. The Neiman Marcus Group temporarily closed its 43 Neiman Marcus and two Bergdorf Goodman stores nationwide in compliance with guidelines set by the Centers for Disease Control and Prevention in response to the Covid-19 pandemic, although 31 locations have gradually started to reopen. The company filed for court protection in May.

The new owners “understand the value of our brands and the opportunity for growth”, said a Geoffroy van Raemdonck, the chief executive officer who kept his position during the bankruptcy process and will now lead the turnaround effort.

Some of Neiman’s creditors and retail peers couldn’t say the same. Lord & Taylor has been running going-out-of-business sales, and Stein Mart Inc. is being dismantled. Marble Ridge Capital, a creditor that peppered Neiman Marcus with objections to its debt maneuvers before and after the bankruptcy filing, is being wound down after co-founder Dan Kamensky’s tactics drew criminal charges.

“While the unprecedented business disruption caused by Covid-19 has presented many challenges, it has also given us the opportunity to reimagine our platform and improve our business”, said van Raemdonck. “We emerge from Chapter 11 as a stronger, more innovative retailer, brand partner, and employer”.

The Neiman Marcus Group runs 43 Neiman’s stores and two Bergdorf Goodman stores, as well as an online business that includes neimanmarcus.combergdorfgoodman.com, and the Mytheresa luxury web site.

Bankrupt Neiman Marcus Officially Shuts Down

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When Neiman Marcus opened a store in Bellevue in 2009, many locals were skeptical that a shop specializing in four-figure cocktail dresses and handbags could survive the Great Recession. But while the upscale scale retailer proved its skeptics wrong in that recession, it isn’t so lucky this time.

Neiman Marcus (Neiman Marcus Group) is the premier destination for luxury fashion and unparalleled service. For more than a century Neiman Marcus has transformed and elevated the shopping experience, becoming a leading purveyor of the world’s most unique luxury goods.

Just 16 months ago, Neiman Marcus rolled out the red carpet to debut its 188,000 sq.-ft. store at Hudson Yards mall, the ambitious retail project on the West Side of Manhattan. Now after much speculation, the bankrupt retailer has confirmed it will exit the location as part of its Chapter 11 bankruptcy restructuring.

The Neiman Marcus Group is just one of many major retailers being severely impacted by the Covid-19 virus pandamic, joining the growing list of brands filing for bankruptcy. Prior to the outbreak, there was speculation that the company, which is behind Neiman Marcus, Bergdorf Goodman, Mytheresa, Last Call, and Horchow, was the next retailer to file for bankruptcy because of its $4 billion in long-term debt. The COVID-19 pandemic has created an additional struggle for the retailer, as its stores have been closed since March.

The 113-year-old retailer follows several other fashion brands that have succumbed to the pressures of the pandemic and filed for bankruptcy over the last few months, including J. Crew, J.C. Penny, Centric Brands and True Religion, among others.

The Neiman Marcus Group temporarily closed its 43 Neiman Marcus and two Bergdorf Goodman stores nationwide in compliance with guidelines set by the Centers for Disease Control and Prevention in response to the COVID-19 pandemic. It has since reopened 31 stores for customer traffic.

Court documents indicate the retailer is closing four Neiman Marcus locations, including its recently opened 188,000 square-foot location at Hudson Yards, as well as its Bellevue, Wash., Palm Beach, Fla. And Fort Lauderdale, Fla. locations. It has also closed 17 out of 22 Last Call outlets. Sources indicate that Neiman Marcus may also close its doors in Dallas, St. Louis, Natick, Mass. and Westchester, N.Y. The company is also closing two of its distribution centers in Longview and Las Colinas, Tex.

Several factors contributed to Neiman Marcus’ bankruptcy. The COVID-19 pandemic has strained the company’s operations because of its temporary store closures nationwide. The company also furloughed roughly one-third of its 13.700 employees as a result of those closures. Neiman Marcus plans on having a reorganization plan confirmed by early September.

The Corona virus pandemic has also a big inpact on the bankruptcy proceedings. One impact of the COVID-19 pandemic on the bankruptcy proceedings is that the Neiman Marcus Group cannot liquidate the business while stores remain temporarily closed. It also may be more difficult to negotiate debtor-in-possession financing to keep the business running during the pandemic.

Partly for political reasons, and the decisions that have been made, the Covid 19 pandamic is not over yet. Its far from over, especially in some of Neiman Marcus’ ‘cities’. So lets think about the loyal 13.700+ employees in this véry difficult times.

 

 

 

 

Neiman Marcus in Bankruptcy Proceedings

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Neiman Marcus (Neiman Marcus Group) is the premier destination for luxury fashion and unparalleled service. For more than a century Neiman Marcus has transformed and elevated the shopping experience, becoming a leading purveyor of the world’s most unique luxury goods.

The luxury retailer Neiman Marcus began its long-anticipated bankruptcy proceedings due to the Covid-19 shutdown, and ‘filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas having lined up $675 million in debtor-in-possession financing and reaching a restructuring support agreement with a majority of its lenders’,” WWD announced. The company plans to eliminate $4 billion in debt in the bankruptcy process.

Prior to COVID-19, Neiman Marcus Group was making solid progress on our journey to long-term profitable and sustainable growth. We have grown our unrivaled luxury customer base, expanded our industry-leading customer relationships, achieved higher omni-channel penetration, and made meaningful strides in our transformation to become the preeminent luxury customer platform. However, like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business.

Geoffroy van Raemdonck, chairman and chief executive officer

The filing helps the company to lift its crushing debt load, which has been as issue that has loomed for years, but the road ahead through the COVID-19 crisis is still extremely uncertain for Neiman Marcus and the rest of retail.

After the pandemic is over, reopening stores will likely take time and resources to make sure it’s safe to shop at stores, while there are no guarantees that the costumers will come back when stores do open. Shoppers may feel hesitant from a health point of view, or they may have been negatively impacted financially, which will hurt the luxury retail segment first and foremost.

The Neiman Marcus Group runs 43 Neiman’s stores and two Bergdorf Goodman stores, as well as an online business that includes  neimanmarcus.combergdorfgoodman.com, and the Mytheresa luxury web site.

 

 

 

 

Neiman Marcus & Jo-Ann Fabrics Are Working Together to Make Apparel for Medical Workers

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During the coronavirus crisis, hospitals and medical facilities are facing an enormens shortage of needed supplies. and Neiman Marcus Group and Jo-Ann Fabrics are working together to help.

As hospitals and medical facilities grapple with short supplies of PPE, numerous fashion players have offered to convert their supply chains, ateliers and factories to help meet demand. Christian Siriano, Brandon Maxwell and Prabal Gurung are among the New York based designers who are now making medical supplies.

In Europe, luxury conglomerates LVMH (Chaumet, Christian Dior, Celine, Bvlgari, Givenchy, Fendi, Louis Vuitton, to name a few), and Kering (Boucheron, Bottega Veneta, Gucci, Ulysse Nardin to name just a few) have both pledged to contribute millions of masks, shipped from China, to aid in France’s relief efforts. Kering’s Balenciaga and Saint Laurent workshops will begin making masks after they receive approval from the relevant authorities. Major beauty companies, like Clarins, started to repurpose their manufacturing facilities to make hand sanitizer.

We’re incredibly proud to share that during this time of great need we’ve partnered with JOANN Stores to produce nonsurgical, personal protective equipment including masks, gowns, and scrubs beginning this week for front-line healthcare providers. We’re doing what we can to giveback and stop the spread of Covid-19.

Geoffrey van Raamsdonck, CEO and Chairmann Neiman Marcus

Beginning today, Neiman Marcus Group’s alterations facilities are receiving product from Jo-Ann to start creating personal protective equipment (PPE) such as masks, gowns and scrubs for use by health-care providers. Jo-Ann is shipping fabric and materials recommended for medical settings, although the products are not medical grade. Employees in NMG’s alterations facilities will follow recommended social-distancing guidelines while creating the products.

The partnership between Neiman Marcus Group and Jo-Ann was created to help fill part of the immediate need of materials for medical personnel. Both companies have stepped up to this global and national crisis in support of those who are holding the front line of this pandemic. Any company that has the ability to manufacture medical materials should manufacture right now. The first batch of PPE is expected to be sent out this week, and the two companies will be paying for shipping and delivery themselves.

In addition to its partnership with Neiman Marcus, Jo-Ann is offering free kits to customers who want to make face masks. The retailer is giving away supplies including fabric, elastic and other materials; customers are instructed to drop off completed masks at their local stores, which serve as collection points.

Internationally, there have been more than 436,000 registered confirmed cases of the coronavirus, which causes the disease COVID-19, according to Johns Hopkins data. The virus has so far killed over registrated 19,600 people. These numbers do not include people who have been tested, including, for example homeless people. Or elderly people who live together in a care home and died there from COVID-19 complains, but not have been tested.

 

 

 

 

Knesko Skin Sets Trends with Neiman Marcus

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Founded in 2012 by internationally renowned and licensed celebrity skincare specialist, Lejla Cas, Knesko Skin features high-performance masks and skin care products to reveal and enhance the skin’s natural beauty. The Knesko Skin experience is like no other in its ability to transform and nurture your entire being.

The gemstone-infused, premier collagen masks are infused with nature’s bountiful and powerful elements designed to revitalize, brighten and hydrate your skin as well as to connect, heal, and nourish your mind, body and spirit.

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Knesko Skin has been featured on ‘Keeping Up With the Kardashians’ with Kris Jenner and Caitlyn Jenner. Celebrities such as Kim Kardashian, Madonna, Jessica Alba, Jessica Simpson, Paris Hilton and Lori Loughlin have been spotted wearing Knesko Skin and rave about the benefits it has on skin.

Today, the celebrity-favorite collection of face, eye, lip, neck and décolleté masks, is proud to announce that today, they will begin a retail partnership with Neiman Marcus in their newly launched Trendy Beauty Shop. The Trendy Beauty Shop is open at eight Neiman Marcus locations and their e-retail platform.

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Knesko Skin’s luxurious masks are designed to firm, lift, hydrate, brighten and energize the skin, by using innovative and cutting-edge Gemclinical™ technology. The Nanogold Repair and Diamond Radiance collections incorporate precious gold minerals and diamond gemstones to heal, balance chakras and enhance the skin’s natural ability to revitalize itself.

I am so thrilled to be partnering with one of the most luxurious department stores in the United States. It had been my dream to get KNESKO into Neiman Marcus and to be recognized as one of the up-and-coming ‘Trending Beauty Brands’ makes this partnership that much more exciting!

Lejla Cas, founder Knesko

Knesko Skin takes a unique approach to skincare by embracing holistic elements that combine both science and spirituality. Founder, Lejla Cas, treats each Knesko product with Reiki healing energy to truly create an immersive masking experience.

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Knesko Skin’s Diamond Radiance and Nanogold Repair Lip, Eye, Face and Neck & Décolleté Collagen Masks as well as the ‘Collection Sets’ which include a variety of masks, will be carried at the select Neiman Marcus Trendy Beauty Shops in Northpark, TX; Fort Worth, TX; Atlanta, GA; Fashion Island – Newport Beach, CA; San Francisco, CA; Michigan Avenue – Chicago, IL; Boston, MA; and Boca Raton, FL.

These products with the addition of single masks, will be available via Neiman Marcus. To find out more information about Knesko Skin please visit Knesko.com.

 

 

 

 

On high heals

The man who rules the souls of the women with his red sole creations launches his new limited-edition Scarabee Nail Polish Collection.

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Christian Louboutin’s amazing new colors of nail polish (click photo to enlarge).

Christian Louboutin found his muse in a key piece of Egyptian iconography, the scarab beetle. The iridescent beauty and wonder of this creature sacred to the Pharaohs, inspired three new shades of nail colour ‘the Scarabée Limited Edition Collection’. Three amazingly beautiful colors, we only found in the past by houses like YSL and Christian Dior. Divas can flaunt the iridescent beauty and wonder of this creature which is sacred to the Pharaohs by dipping their finger tips in the Scarabée Limited Edition Collection. “They can look beautiful and reflective under the bright sun but also look like a precious jewel by night” says the designer.

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Christian Louboutin Scarabee I ‘Nude pink gold’ (click photo to enlarge).

While Scarabée I will dress the nails in a metallic rose gold shade, Scarabée II will give them a rich turquoise makeover with flashes of purple, green and gold.

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Christian Louboutin Scarabee II ‘Violet blue’ (click photo to enlarge).

Scarabée III renders kaleidoscopic transformation with sparkling bronze topped with green and blue highlights.

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Christian Louboutin Scarabee III ‘Green bronze’ (click photo to enlarge).

While the signature form of the glass bottle and the custom-designed, patented triangular brush has not been altered, it comes packed in a distinctive soft touch mat carton featuring a cut-out window and a copper gold scarab motif. Priced at $50, the highly pigmented, super glossy formula achieves in just two coats the effect of 20 layers of traditional lacquer, is it it’s price more then worth! Depents on your own taste, but all three a perfect on any skincolor or skin tone!

Addressing Egypt as his second home, the Parisian shoe designer has also created a patent leather named Scarabée Océan-Amazone in a graded shade of blue-to-green.

Rating:

  • Scarabee I ‘Nude pink gold’ (9.5/10)
  • Scarabee II ‘Violet blue’ (9.5/10)
  • Scarabee III ‘Green bronze’ (9.5/10)

As far as I know, they are only availble at Sephora, Neiman Marcus, Saks, Nordstrom for $50

by Jean Amr