Neiman Marcus’ Dallas flagship to remain open — through holiday season
Saks Global has had a last-of-minute change of heart.
The luxury retail company, which finalized its purchase of Neiman Marcus in December, said it will keep Neiman Marcus’ store in downtown Dallas open through the 2025 holiday season while it “explores a reimagination” of the building in collaboration with the city of Dallas. A fixture in downtown Dallas for decades, the store, which had also served as Neiman’s headquarters, was expected to close Monday, March 31.
[READ MORE: Saks Global to shutter Neiman Marcus Dallas flagship March 31]
The decision to keep the flagship open for the time being follows meetings last week between city officials and Saks Global executives to discuss the potential of a new, innovative format for the “reimagination” of the space while supporting the resurgence of downtown Dallas.
The potential concepts being evaluated for the space include a luxury retail experience, a curated art exhibition, a curated art exhibition, and a fashion and event center. The proposals also include include an incubator for fashion design and manufacturing in downtown Dallas.
“We deeply admire the city's passion and unwavering dedication to Neiman Marcus’ storied legacy in Dallas,” said Marc Metrick, CEO of Saks Global. “The potential reimagination of this iconic shopping destination reinforces Saks Global’s commitment to redefining the luxury shopping experience. As we explore opportunities for the Downtown store, along with the planned renovation at the NorthPark store, we will evaluate the opportunity to utilize both locations to serve different customer needs in the Dallas market.”
Saks Global is planning a $100 million renovation of the Neiman Marcus store at NorthPark Center, which is about 15 minutes away from downtown Dallas.
“We are excited that Saks Global has decided to keep Neiman Marcus open downtown, as we explore the opportunity to unlock the potential to transform downtown into an international beacon and economic engine for fashion — just as the Neiman Marcus founders intended when they opened the store more than 100 years ago,” said Dallas city manager Kimberly Bizor Tolbert. “We look forward to exploring what‘s on the horizon and are committed to continuing our conversations with the Saks Global team.”
The Saks Global portfolio includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks Off 5th, as well as a portfolio of prime U.S. real estate holdings and investments.
