The Neiman Marcus Group CEO discussed the challenges, changes and performance of the Dallas-based purveyor of luxury.
“We live in a world of transaction, where people buy, buy, buy, and in a world of ‘likes’ as you go on social media, and say, ‘I like your post.’ Butand Bergdorf Goodman are really about emotions and relationships,” said van Raemdonck, the chief executive officer of the Neiman Marcus Group.
Van Raemdonck declined to comment on the Saks speculation, but he did say that the owners of NMG — Pimco, Davidson Kempner Capital Management, and Sixth Street — eventually will look to monetize their investment through an IPO or through a sale. He said he anticipates sustained volatility through the holidays, adding, “I think we’re going to continue to see some customers engage less in luxury because of the economic pressure and the political or world uncertainty and some of the horrible things that are happening.”
Running the luxury business during the pandemic was really difficult, and is still challenging, van Raemdonck acknowledged. Van Raemdonck views the 2023 holiday season — which for many retailers has already started — imbued with volatility. To navigate that, “I want my leadership to come with a different point of view. I don’t want them to all say the same thing.
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