Saturday, December 10, 2022

Neiman Marcus weighs in on $5.2M to live in Dallas as it monitors remote work

Dallas officials have approved $5.2 million in economic stimulus to prevent Neiman Marcus from placing bets in his hometown — but the luxury chain is yet to say whether it is shifting to a remote-working strategy that Less dependent on a corporate headquarters.

Neiman and its 114-year-old flagship store in the historic downtown have long been proud fixtures in Dallas—and city officials want it to stay that way. The terms of the incentive require that 35% of the company’s employees in Dallas live in the city. The package approved Wednesday also requires Neiman to retain a minimum of 1,100 corporate employees in Dallas.

But Neiman Marcus – which closed two of three office locations in the city during its 2020 bankruptcy – did not immediately commit, calling the proposal “an important milestone” that would require further discussion.

In fact, the swanky retailer has recently been leaning into a new corporate strategy, intensified by the pandemic, that allows its office workers to work remotely — and not just from Dallas but from across the country.

Interior Of A Dallas Neiman Marcus Store.
Dallas legislators are concerned that Neiman Marcus is reducing its footprint in the city.
Jonathan Zizo

,We are not intentionally calling Dallas the headquarters, but we will always have most of our employees in Dallas,” Neiman Marcus chief executive officer, Geoffroy van Remdonck, told The Post in an interview this week. “There is no corporate headquarters from an employee’s point of view.”

As previously reported by The Post, the company’s senior management, which was once centered in Dallas, is now spread across the country to Florida, California, New York, Missouri, and North Carolina, among other states.

For the past five months, about 10 of the top executives have been meeting at stores in various cities, including New York, Miami and Scottsdale, Ariz., about once a month, Van Ramdonck said.

Geoffroy Van Remdonck
CEO Geoffroy van Reemdonck is hiring senior executives who live and work outside of Dallas.
Patrick McMullan via Getty Images

Currently, most of Neiman’s corporate employees are still based in Dallas, although “there has been a slight decrease since 2019,” according to a company spokesperson.

The company said it is moving to so-called regional centers where employees can meet, but not necessarily every day. The company told The Post that it is looking for new offices in Dallas, where at least half the space is comprised of conference rooms and lounges instead of individual desks.

“As our process progresses, we are committed to continued collaboration with the City of Dallas on a final agreement that will enable the Neiman Marcus Group to provide a modern workspace in line with our integrated work philosophy and drive continued economic growth and employment. contributes to the creation,” the company said in a statement.

Department Of Beauty At Neiman Marcus.
One condition of the $5.2 million package is that Neiman Marcus keep its Dallas store open until 2031.
Patrick McMullan via Getty Images

As The Post previously reported, industry watchers and Neiman employees alike have speculated that Neiman Marcus may shut down its low-traffic flagship located in the nine-story, Renaissance Revival building that the company owns. is owned by.

Dallas officials wanted reassurance that this would not happen, so their economic package is dependent on Neiman Marcus not closing its downtown stores until at least 2031.

“We are reaffirming our commitment to the flagship store,” Geoffroy van Reemdonck, chief executive of Neiman Marcus, told The Post, disputing that the company has considered closing it.

Dallas officials want Neiman Marcus to move to a development called the CityPlace Tower and have conditioned the economic package, among other strings. The city wants Niemann to add 300 new jobs to Dallas by 2026.


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