Saks in Talks to Sell Stake in Bergdorf Goodman
The retail industry is buzzing with news of Saks' potential sale of a stake in luxury department store Bergdorf Goodman.
Neiman Marcus is a storied American luxury department store chain, widely recognized as a pioneer in upscale retailing and a symbol of high fashion and exceptional customer service[1][3][7]. Founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Al Neiman, the store quickly distinguished itself by focusing on quality, exclusivity, and personalized service, catering to the “opulently wealthy” with unique and fashionable merchandise[1][7]. From its inception, Neiman Marcus was designed to be more than a clothing store—it was a destination for fashion advice and trendsetting, quickly becoming a cultural touchstone in Dallas and beyond[2]. The company’s early years were marked by resilience and innovation. Despite opening just before the Panic of 1907 and surviving devastating fires in 1913 and 1946, Neiman Marcus consistently rebounded, expanding its offerings to include men’s and children’s apparel, accessories, and home goods[2][3]. In 1927, it launched the first weekly retail fashion show in the U.S., and by the 1930s, it was staging elaborate events that drew national attention, such as the “One Hundred Years of Texas Fashions” gala[3]. The store’s reputation for excellence was cemented by endorsements from fashion icons like Edna Woolman Chase of Vogue, who declared it her “dream” store[3]. Neiman Marcus has long been at the forefront of retail innovation. It was an early adopter of catalog sales (the famed “Neiman Marcus Christmas Book”) and embraced e-commerce as the digital era emerged[1]. The Neiman Marcus Group, formed in 1987 after a corporate spin-off, grew to include Bergdorf Goodman, Last Call clearance stores, and the Horchow home furnishings brand[1][5]. The group also held interests in luxury accessories and cosmetics brands,
The retail industry is buzzing with news of Saks' potential sale of a stake in luxury department store Bergdorf Goodman.