Neiman Marcus for years has been working to sharpen its digital side — a singular challenge for a retailer that is famous for its brick-and-mortar stores and planted firmly in the notoriously digitally resistant luxury space.
With that resistance to e-commerce waning somewhat among luxury brands and retailers, Neiman years ago bought the luxe European MyTheresa site, which quickly became a thorn in its side before and during its Chapter 11 proceedings. In 2018 the company brought on Mullen, who oversaw the development of virtual styling services and customer service, long key to its success with high spenders in its stores.
In its bankruptcy filing, Neiman last year boasted of operating “the largest luxury e-commerce platform in the world,” pointing out that more than 30% of annual revenue is from online sales, and afterward announced store layoffs as part of an effort to boost that. Previous attempts to revamp its supply chain, described in Wednesday’s release as a priority, were hampered by a debt load that has now been alleviated by its Chapter 11 process.
Source: Retail Dive
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