The Luxury Retailer Intends to Open a Network of Corporate Hubs to Fuel its Integrated Working Strategy
DALLAS, July 27, 2022 /PRNewswire/ -- Neiman Marcus Group ("NMG" or the "Company") announced today its strategy for a collection of "corporate hubs" to support its integrated working philosophy, NMG|Way of Working (NMG|WOW).
Through NMG|WOW, the Company sees the NMG organization as a network made up of hubs of all kinds that serve its associates and their needs. For example, many associates have an individual working hub at their home. The luxury retailer also considers each of its stores and distribution centers NMG hubs.
NMG has selected the Cityplace Tower in the Uptown area of Dallas for its Dallas Hub. The location is ideal for associates based in the area and is centralized between its Neiman Marcus Downtown and NorthPark flagships. This hub will go through extensive renovations to outfit the space with innovative solutions to support the retailer's integrated ways of working with an estimated opening of early 2023. The Company will maintain its Neiman Marcus Downtown Dallas location as its flagship store with additional corporate space above it.
The luxury retailer is also exploring other locations for corporate hubs where it has large associate concentrations. These modern workspaces will be a further conceptualization of the retailer's revolutionized working philosophy, NMG|WOW, that the Company put in motion in 2020. NMG|WOW empowers most corporate associates to allocate their time and choose their location based on what drives the best results.
The new corporate hubs will reinforce NMG's "omni" work culture by creating collaborative, seamlessly digital and physical spaces, meeting rooms, and workstations instead of permanent desks. The leading-edge design of the space and technology will foster teamwork, innovation, creativity, collaboration, and infuse all aspects of the retailer's NMG|Way culture. As a digital-first company, NMG is creating these spaces to have modern technology features that will make life extraordinary for all associates, both in-person and remote.
"Our NMG|WOW philosophy empowers our associates to work whenever, however, and wherever to achieve their best results," said Eric Severson, EVP, Chief People and Belonging Officer, Neiman Marcus Group. "Our strategy is working, and we are seeing strong business performance, more productivity and satisfaction among our associates, and we are standing out among our competitors in a very challenging job market."
The retailer is seeing great results from this strategy with retention up and time-to-hire down in fiscal year 2022 compared to fiscal year 2019, as this philosophy allows the Company to hire the best corporate talent, wherever they choose to live.
"The pandemic gave us the perfect opportunity to fast-track the revolutionary way our internal corporate teams are working and look for opportunities to innovate," said Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group. "With the implementation of our NMG|WOW program and the future opening of our corporate hubs, our associates will have a number of resources at their disposal to achieve results and best support our customers."
Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 10,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our flagship brands include Neiman Marcus and Bergdorf Goodman. For more information, visit www.neimanmarcusgroup.com.
SOURCE Neiman Marcus Group