DALLAS, April 22, 2021 /PRNewswire/ -- Today, Neiman Marcus Group (NMG) honors Earth Day by announcing the development of the company's first Environmental Social Governance (ESG) team, strategy, and improvements.
"Now more than ever, environmental sustainability is top of mind for the fashion and retail industries," said Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group. "As the preeminent luxury customer platform, it's our responsibility to take action and address sustainability issues for our associates, customers, investors, and the future of our great company."
The new ESG team spearheading the company's approach to these issues consists of a Vice President and two managers that report in to NMG's Chief People & Belonging Officer Eric Severson, with quarterly oversight from NMG's Board of Directors. The success of this small team will be in large part due to a cross-functional governance model that helps them engage leaders and taskforces across the company, ensuring that ESG is infused into all parts of NMG's business.
The group's first task, already underway, is collaborating with independent, third-party consultants to conduct a materiality assessment that highlights the importance of various ESG issues to the business and key external stakeholders. NMG will use findings from this survey to identify key ESG priorities, set time-bound goals, invest in competitive opportunities, and publish a comprehensive strategy later this year.
To complement this announcement, NMG celebrated Earth Day earlier this month by hosting an event with Elizabeth Cline, author of "The Conscious Closet: The Revolutionary Guide to Looking Good While Doing Good," and is sharing the ongoing sustainability improvements below:
Additionally, FASHIONPHILE and Neiman's are launching a Stylist Network, an elevated white glove service that enables customers to cash-in on prior investments and expand their spending power at retail by giving over 3,000 NM sales associates a groundbreaking addition to their remote selling digital tools. The new Stylist Network includes a multi-client management tool, account and client reporting, commission management, and dashboards for visualizing next steps across clients. "Today more than ever, the consumer is a conscientious shopper. She's not only looking for a quality item at the right price, but she is thoughtful about the investment she is making and the sustainability of the purchase," said Sarah Davis, Founder and President of FASHIONPHILE. "Neiman Marcus has been the perfect partner for FASHIONPHILE as we pursue more innovative ways to engage with customers."
As NMG continues its transformation to become the world's pre-eminent luxury customer platform, it is committed to developing sustainable practices that allow the company to lead with love well into the future.
About Neiman Marcus Group
Neiman Marcus Group is a luxury, multi–branded, omnichannel fashion retailer conducting integrated store and online operations under the Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow brand names. For more information, visit http://www.neimanmarcusgroup.com.
SOURCE Neiman Marcus Group