NEIMAN'S BY NEIMAN MARCUS

Neiman Marcus, a prestigious luxury retailer with a longstanding presence in the United States, embodies a heritage of fostering enduring connections, inclusivity, and offering opulent merchandise and services. However, to thrive in the evolving landscape, Neiman Marcus must reassess its current business strategy and address critical issues such as limited nationwide coverage, location strategies within malls, an exclusive focus on older demographics, a less diversified brand portfolio, and a lack of technological advancements.

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This thesis endeavors to forge stronger connections between Neiman Marcus and its current (Baby Boomer and Gen X) as well as potential (Millennials and Gen Z) consumers by crafting a visionary business strategy that reimagines the luxury shopping experience and ensures future resilience. Introducing "Neiman's by Neiman Marcus," a distinctive brand extension, this strategy targets Millennials and Gen Z while diversifying the brand's portfolio and expanding its reach. Neiman's by Neiman Marcus will establish hyper-localized experiential touchpoints in high-traffic suburban areas, offering carefully curated merchandise. The formulation of this business strategy draws upon a synthesis of comprehensive secondary and primary research processes and analyses.