Dallas-based Neiman Marcus, that swanky store with all of the nice handbags and shoes and the over-the-top Christmas catalog, has been all over the news today after it was sold for $6 billion.
Ares Management LLC and the Canada Pension Plan Investment Board are the buyers. Revenue at Neiman hasn’t returned to levels seen before the 2008 financial crisis, Bloomberg reports. Shoppers have been slow to return to the luxury retailer.
While we wait to hear more about what the sale means for Neiman customers, let’s take a look back at some of the store’s rich history – just wait until you find out when Neiman first published its splashy Christmas catalog. Oh, and if you read until the end, there’s a special recipe waiting for you.
1907: Neiman Marcus opens on Sept. 10 at Elm and Murphy Streets in Dallas. The store was founded by Herbert Marcus Sr, his sister Carrie Marcus Neiman, and her husband A.L. Neiman.
1913: Fire destroys the original store – and all of the inventory.
1914: The store is rebuilt at Main and Ervay streets. The flagship Neiman store continues to operate there today.
1926: Neiman Marcus publishes a Christmas booklet with 16 pages of Christmas gift suggestions.
1926: Neiman Marcus launches the first weekly retail fashion show in the U.S. at the Baker Hotel in Dallas.
1928: A.L. Neiman and Carrie Marcus Neiman divorce, resulting in the dissolution of the business partnership between Herbert Marcus and A.L. Neiman. The Marcus family assumes total control of the store.
1928: A men's department opens at Neiman Marcus featuring items like French-made ties and English shirtings – items rarely found west of New York.
1951: Neiman Marcus opens a second store in Dallas in Preston Center.
1957: The first Neiman Marcus Fortnight is staged, honoring France.
1960:The First “His & Hers” gift is featured in the Christmas book: Beechcraft airplanes.
1964: Another fire strikes Neiman, this time a four-alarm blaze destroys all inventory at the Dallas flagship store.
1965: Neiman Marcus moves its second store in Dallas to NorthPark Center.
1971: Neiman Marcus builds its first store outside of Texas in Bal Harbour, Fla.
1989: Neiman Marcus reaches $1 billion in sales.
1997: Neiman Marcus celebrates its 90th anniversary with a three-week Texas exposition in Dallas and Houston.
2006: The Neiman Marcus Group revenues surpass $4 billion.
2010: Karen Katz is named President and CEO of The Neiman Marcus Group. It is the first time a woman has held the top job at The Neiman Marcus Group.
For reading until the end, here's your bonus: If you want the Neiman Marcus Cookie recipe, click here.
Source: Neiman Marcus