Exiting bankruptcy is the first step, but Neiman Marcus has a long way to go. The bigger question is can Neiman Marcus find relevancy in what has become a completely changed landscape? No doubt Neiman Marcus still has a following, but it’s yet to be seen if they can capture new fans as they move forward. Initiatives like “The Book” are nostalgic, but whether or not it resonates with a new, younger consumer is questionable. Overall, I’d say Neiman Marcus is making progress but the future will be challenging and uncertain.

Neiman Marcus is certainly on a better footing as the debt it previously held was absolutely crippling and no matter what it did it was unable to move into the black. It now has a chance. However issues remain. Foremost among these is one of relevance. To its very loyal customers, Neiman Marcus is a relevant retailer. However outside of this circle it needs to increase its appeal. That can be hard to do when so many luxury brands and houses are now going direct to the consumer via their own experiential stores or online. Resolving this is crucial if Neiman Marcus wants to maintain both its status with newer generations – and there is an image issue that comes into play here too – and its long term viability.

While I’ve been gone from the senior leadership team at Neiman Marcus Group for quite some time, I still see the fundamental challenges of the luxury department store sector as fundamentally the same, namely, winning and profitably growing customers outside the historical high-spending, price insensitive uber-wealthy segment. Outside of China (and perhaps the Middle East) the luxury sector started to mature a decade ago and much of the growth in North America and Western Europe for most luxury brands came from raising prices, not transaction growth. E-commerce provided some upside, but NM, Saks, Nordstrom and others are now highly penetrated online. Fortunately Neiman’s has gotten out from under an absurdly over-priced, over-leveraged PE buyout, and that gives them time and money to mount a transformation. Yet, all the things they’ve struggled with for over a decade are still the same. And the competition has only gotten more fierce, from both disruptive brands and their vendors’ more developed DTC strategies. I am also convinced that for strong profitability to be possible, more consolidation needs to occur.… Read more »

Yes, Neiman Marcus has challenges, but luckily, no other brand has challenged its go-to luxury status. Neiman Marcus has the opportunity to create a new attitude that will attract younger affluent consumers and, combined with technology, should make a big splash.

Neiman Marcus is on the right path towards solidifying their brand positioning within the luxury market. Loyal customers and long-time fans will appreciate the nostalgia of “The Book” while Neiman Marcus is catering to the new customer by enabling personalized experiences through NM Connect, their shopper app.

The Neiman Marcus strategy is to elevate their customer relationships and they are enabling their sales teams and their legacy, along with technology and data, to lead them in the right direction — getting closer to their customer and giving them what they need, no matter who they are.

Neiman Marcus must be confident of its financial footing if it is launching a big campaign like Re-introduce Yourself. I love the idea of reintroducing your company to customers after the year we have been through and continue to navigate. It takes work to get back on the consumer radar.

The media has been talking for years about department stores being dinosaurs. Neiman Marcus could either sit back and continue to deal with that perception or do something about it. “Re-Introduce Yourself” with all of its optimism is just what we need right about now.

While I’ve been a skeptic about Neiman Marcus since way before the bankruptcy, the reduction in debt load, a new focus on the customer and a return to some of the more relevant Neiman Marcus assets are a great start. The Book, in analog or digital form, shows the power of the Neiman Marcus brand and, in tandem with the new campaign, shows more promise than anything I’ve seen Neiman Marcus do in years. I’m moving from bearish to cautiously optimistic on (at least the potential for) a rebound for the business.

If Neiman Marcus plays its cards right, I can envision them creating a pretty cool niche with digital born Millennials and Gen Zers. The trick will be finding the design fashions that appeal to younger shoppers while trying to pinpoint attractive price points for broader audiences. I’m not sold on re-imagining The Book, but I am all-in on evangelizing the digital style advisors, which I think has so many CX, media and PR opportunities.

No. Neiman Marcus is stuck in the wrong model, even after exiting bankruptcy. It doesn’t need a new marketing campaign, it needs an entirely new business model. This includes defining what it will do with all of their mall stores and how they are going to compete with retailers who do not have massive real estate expenses.