In 2018, The Dallas-based company Neiman Marcus will open the doors of a 250,000 square-foot store in Hudson Yards on the Far West Side of Manhattan on 10th Avenue between 31st and 32nd streets
Neiman’s decision to plunge into the most competitive U.S. luxury retail market comes at the ripe old age of 107. Until now, the Dallas-based company had been wary of entering an already crowded New York market. But with luxury sales exploding in New York, the company decided it was finally the right time. Neiman CEO Karen Katz in a statement spoke of the importance of a flagship “in one of the world’s premier shopping destinations.”
“We needed to make sure that if we were taking this big, big step of coming to Manhattan, that we had a store that was going to be very impressive,” Katz,told The New York Times.
The changes come in the wake of the sale of Neiman Marcus earlier this year, which saw the company achieve a value of $6 billion. The group also owns Manhattan stalwart Bergdorf Goodman, which will not be neglected when the new store build begins, it will also enjoy a complete “floor-by-floor” renovation by 2020.
Neiman Marcus already has several stores in the New York area, including one in Paramus, New Jersey, another in White Plains, New York and plans for another in Long Island, New York. The Manhattan store will be Neiman’s forty-third full service department store.