Neiman Marcus weighs $5.2M to stay in Dallas as it eyes remote work

Dallas officers have permitted $5.2 million in financial incentives to maintain Neiman Marcus from pulling up stakes in its hometown — however the luxurious chain isn’t but committing, saying it’s shifting to a remote-work technique that’s much less reliant on a company headquarters.

Neiman and its 114-year-old flagship retailer in historic downtown have lengthy been proud fixtures in Dallas — and metropolis officers need it to remain that method. Phrases of the incentives require that 35% of the corporate’s workers in Dallas stay within the metropolis. The bundle permitted Wednesday additionally requires Neiman to retain a minimal of 1,100 company workers in Dallas. 

However Neiman Marcus — which closed two of three workplace areas within the metropolis throughout its 2020 chapter — didn’t instantly commit, describing the provide as “an essential milestone” that may require additional dialogue.

Certainly, the swanky retailer currently has been leaning into a brand new company technique, accelerated by the pandemic, that permits its workplace employees to work remotely — and never simply from Dallas however from all around the nation.

“We’re purposefully not calling Dallas the headquarters however we’ll all the time have nearly all of our workers in Dallas,” Neiman Marcus chief government, Geoffroy van Raemdonck instructed The Put up in an interview this week. “From an worker standpoint there’s not a company headquarters.”

As beforehand reported by The Put up, the corporate’s senior administration, as soon as concentrated in Dallas, is now unfold out throughout the nation now in Florida, California, New York, Missouri and North Carolina amongst different states. 

For the previous 5 months about 10 of the highest executives have been assembly as soon as a month at shops in several cities, together with New York, Miami and Scottsdale, Ariz., van Raemdonck stated. 

At the moment, most of Neiman’s company workers are nonetheless based mostly in Dallas though there “has been a slight lower since 2019,” in keeping with an organization spokeswoman.

The corporate stated it’s shifting to so-called regional hubs the place workers can meet, however not essentially daily. It has been trying to find new workplaces in Dallas the place not less than half the house is comprised of convention rooms and lounges reasonably than particular person desks, the corporate instructed The Put up.

“As our course of strikes ahead, we stay dedicated to continued collaboration with the Metropolis of Dallas on a remaining settlement that allows Neiman Marcus Group to ship a contemporary workspace in step with our built-in working philosophy and contributes to sustained financial growth and job creation,” the corporate stated in an announcement.

As The Put up beforehand reported, business watchers and Neiman workers alike have speculated that Neiman Marcus may shut its low-traffic flagship, situated in a nine-story, Renaissance Revival constructing that the corporate owns. 

Dallas officers wished assurances that wouldn’t occur, so their financial bundle is contingent on Neiman Marcus not closing its downtown retailer not less than till 2031.

“We’re reaffirming our dedication to the flagship retailer,” Neiman Marcus chief government, Geoffroy Van Raemdonck instructed The Put up, disputing that the corporate has thought of closing it. 

Dallas officers need Neiman Marcus to maneuver right into a growth referred to as Cityplace Tower and have made {that a} situation of the financial bundle, amongst different strings. The town needs Neiman so as to add 300 new jobs in Dallas by 2026.