The competitive luxury market in New York is about to get even busier.on Manhattan’s West Side on Friday as the anchor tenant at Hudson Yards, the largest U.S.
more crucial than ever considering high-end, and often younger, consumers are more comfortable splurging on luxury purchases online and are allocating a bigger portion of their budgets to experience-oriented and personalized things.The store opening comes as Neiman Marcus Group, which generated nearly $5 billion in companywide sales last fiscal year, is set to report its sixth consecutive quarter of same-store sales increases late Tuesday.
On the upper floors of the three-story flagship are two full-service restaurants and bars in what the company described as its biggest combined showcase of food and drinks. One of them overlooks New York's 10th Avenue with a glimpse of the Statute of Liberty in the distance while the other overlooks Hudson Yards' centerpiece, a spiral staircase
New York is already a key market for the Neiman Marcus brand, even before this new physical footprint. The city's shoppers contribute $100 million to the brand's sales via its website. That amount doubles when including online customers in the city’s greater metropolitan area, Raemdonck said. Neiman is ahead of many rivals, having made a foray into e-commerce 20 years earlier, with online now representing well over a third of the company’s total business, he said.