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  1. #61

    Default Re: Neiman Marcus to file for bankruptcy

    F92360FF-3E9D-46BA-B4C9-E965CC330B00.jpeg


    Re: Hudson’s Bay Company’s entry

    Following an announcement in 2016 HBC began an aggressive move in an attempt to match Amazon’s heft in the e-commerce domain. Okay, make that compete and try to hold ground or, er, the biggest piece of pie it could. This was not just about being simply online (everyone is) but by supplanting the distribution network with newly built distribution facilities as well as modifying existing ones. This included crisp new warehouses in both Toronto and Vancouver as well as technological updates and expansion to existing ones in Toronto. In particular, these new warehouses were built around or retrofitted with robotic fulfilment systems.


    https://youtu.be/T4Y4t6cDb0U


    In the end, everyone has an online presence. Both big department stores and smaller mom & pop locales. But to be able to handle large volume orders with ease (à la Amazon) requires the modern infrastructure to do it. While its stores remain in Canada HBC is making a pitch to balance its bricks and mortar retail presence with an online system that offers a ridiculously large array of goods that mirror all the names it currently represents (Hudson’s Bay stores and their regular products, Sak’s 5th Ave, etc.). It did take a stab with 15 European department stores in the 2010s but pulled back in late 2019. If anything, HBC - the world’s oldest department store - is not averse to risk and trying things. Whatever happens it will NOT be known as a retailer going down without a fight, albeit with a sizeable financial heft to experiment with.

    Under the umbrella of NRDC Equity Partners HBC performs as the holding company and retail operations management of these stores. The other side of NRDC is separately interested in the pursuit of shopping malls (although that sea has calmed too). With NM’s new status there is no doubt that HBC will at least look at that option too. In the end it’s the name and customers they want most as they feel confident with the supply chain side of things. But everything has to do with perceived online strength for more curated upscale brands. For example, HBC once purchased GILT Groupe for an outstandingly low price; they would sell it again but 2 years later and lose $150M.

    One of the futuristic warehouses is being finished not far from where I live. How this incursion into a fully-automated robotic fulfilment distribution will work will have to seen to be realized. On the one hand HBC will have its stores (Hudson’s Bay network of 90 stores in Canada carrying lines according to regional socio-economic demographics, Sak’s in the USA and now Canada too), and, if it works, a growing online presence and highly-responsive distribution system that performs in the same vein as Amazon to ship items out quickly and efficiently (hopefully accurately too). As said Hudson’s Bay stores will be both mid-scale to upscale in markets according to demographics, Sak’s will, well, remain as Sak’s and offer its usual upscale confection, and the online presence will (if it goes according to plan) will offer a bit of everything. Apparently HBC wants the old Sears clients, too, but I don’t know how that would work. In some stores in certain regions (not Sak’s, of course) it would work. But the rest will he buried online, I guess.

    But HBC with the financial heft of NRDC Equity Partners does appear to want bricks and mortar offerings with its e-commerce offerings. How this plays out for Neiman Marcus and other high-end retailers of similar appeal it’s hard to say. Obviously a lot of this has to do with 1) preserving the contacts with existing brands or signing new ones to offer their wares, and 2) having a certain physical presence necessary to test niche fragrances and experience designer clothes, leather goods and accessories.

    Still, I’ll look at any model and hope for it to find footing in an Amazon-dominated landscape. Amazon certainly knows how to play the game it invented, and its website sorts things well, but I still find it to be somewhat of a mashup that’s just a couple of leagues better than some Chinese distributors we all know of.

    In the end I just want to know that there is choice of online destination and competence in delivering the goods, in addition to some valuable retail experiences left standing.
    Last edited by Rabidsenses; 30th April 2020 at 05:45 AM.
    Currently wearing: Baie 19 by Le Labo

  2. #62
    Basenotes Member Aitchellsmell's Avatar
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    Default Re: Neiman Marcus to file for bankruptcy

    I would hate to see the end of "actual" stores; I prefer to buy clothes in person. And every so often I do like to just browse. That's maybe the underlying problem with the huge retailers; people love to visit and check out merchandise, then find the same item and buy it cheaper online (that's my m.o. for fragrances). People may not be buying anything, but the malls around these parts are still chock-a-block every weekend. During this Corona lockdown, they've actually had to post signs in grocery and drugstores asking people to please not browse--just get the essentials and get out! I think for a lot of people hitting the stores is a regular leisure activity and there'd be much thumb-twiddling if the stores were no longer there. Hard to say what the future will hold (or not).
    Currently wearing: Gypsy Water by Byredo

  3. #63

    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by Rabidsenses View Post
    F92360FF-3E9D-46BA-B4C9-E965CC330B00.jpeg


    Still, I’ll look at any model and hope for it to find footing in an Amazon-dominated landscape. Amazon certainly knows how to play the game it invented, and its website sorts things well, but I still find it to be somewhat of a mashup that’s just a couple of leagues better than some Chinese distributors we all know of.

    In the end I just want to know that there is choice of online destination and competence in delivering the goods, in addition to some valuable retail experiences left standing.

    Very informative post!!

    Have read where Amazon seem to have a record of seizing lucrative product areas from third party vendors, which is another reason to support multiple online options. Agree some retail left is good. But mainly just had to say that video on the robot warehouse.... I'm all for keeping people employed and all that.... but damn, there is just something really cool about it!!!! Just need to replace the audio with Metal by Gary Numan......

  4. #64
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    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by woodnotes55 View Post
    Have read where Amazon seem to have a record of seizing lucrative product areas from third party vendors…
    Amazon operates in a given sector at a loss, sustaining itself with profits from other areas. This destroys its competitors margins, driving them out of business. Amazon's apparent goal is to conquer market sectors one by one, until it's the only vendor selling anything. It's the ultimate in monopolism.

  5. #65

    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by PStoller View Post
    Amazon operates in a given sector at a loss, sustaining itself with profits from other areas. This destroys its competitors margins, driving them out of business. Amazon's apparent goal is to conquer market sectors one by one, until it's the only vendor selling anything. It's the ultimate in monopolism.
    Agree with you there, pretty clear from the history in books, and cd's and dvd's too. And that's where the bigger money is for them.

    I was on a slight tangent, rabidsenses' comment about the good website but questionable rest-of experience made me think more of the third party sellers. There are items where the total market is small or perhaps transitory, but if something is selling well Amazon can easily ban a seller and start selling it direct for three or six months then discontinue again when it runs its course. Then wait for the next trend or fad to come along and repeat.

    Back to the monopoly idea, there was a good PBS Frontline show about Amazon, I saw it in the last 6 months or so and think it was new. They interviewed a few of the guys there at the beginning and some of them definitely have mixed feelings on the company now. Show is probably not hard to find for streaming.....

  6. #66

    Default Re: Neiman Marcus to file for bankruptcy

    Every day my email is bombarded with sale messages from NM, two or three a day. This has been going on for weeks, ever since I put in an order to use up a gift card.
    ​"It was foolish of her not to have bought a larger bottle."

    Dorothy Eden, The Time of the Dragon
    Currently wearing: Idylle by Guerlain

  7. #67
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    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by FiveoaksBouquet View Post
    Every day my email is bombarded with sale messages from NM, two or three a day. This has been going on for weeks, ever since I put in an order to use up a gift card.
    Yes! I haven't used my NM card since January 2019, then out of nowhere incessant email.

  8. #68
    Basenotes Member CBR1000rrRyda's Avatar
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    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by CordonBeige View Post
    I don't want to see retail get wiped out, but there's a part of me that enjoys the retail apocalypse. When was the last time you walked into a retail establishment and the people actually wanted to be there? Even during the best of times, every interaction feels like I'm trying to make it as painless as possible for them, and I'd appreciate it if the same can be done for me.
    I agree that they don't really treat you the best as a consumer (at Neiman's either, until they realize you have the true potential to spend a lot of cash), but I have gotten used to it. Nevertheless, I hope as many stores as possible may be able to stay on. If not, maybe some new stores can pop up that will be as nice or better, to take their places

  9. #69

    Default Re: Neiman Marcus to file for bankruptcy

    Damn! I hope Neiman Marcus doesn't become the next Barney's.
    Slightly hating myself right now for ordering so much stuff online...
    Currently wearing: Tindrer by Baruti

  10. #70

    Default Re: Neiman Marcus to file for bankruptcy

    And it's official this morning...

  11. #71

    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by maksidrom View Post
    And it's official this morning...
    Yes. It was the only viable way to shed their debt load.

  12. #72

    Default Re: Neiman Marcus to file for bankruptcy

    I try to go but books from independent book stores even if I have to pay two dollars more. Screw Bezos.

  13. #73

    Default Re: Neiman Marcus to file for bankruptcy

    Just when you think what else can they do....

    Got a letter today, explaining a change to a promotional financing plan where after the 6 to 12 months no interest is over the rate will go to 21%.

    Two problems here.... 1 - I have never had any promotional financing plan with them.... 2 - they closed my account Apr. 6!!! I posted on that before and someone else said the same had happened to them. I guess when you owe millions it's not worth it to try to save 30 cents here and there avoiding wasted mail.

  14. #74
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    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by woodnotes55 View Post
    2 - they closed my account Apr. 6!!! I posted on that before and someone else said the same had happened to them.
    Interesting. Had you used your card regularly to make purchases?
    Remember that while it is perfectly acceptable to criticize the content of a post - criticizing the poster is not.
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  15. #75

    Default Re: Neiman Marcus to file for bankruptcy

    Quote Originally Posted by hednic View Post
    Interesting. Had you used your card regularly to make purchases?
    No I hadn't. The letter said the card was not used in either 15 or 18 months. My recent purchases at NM are a tiny fraction of what they used to be. I think last buy or two I hadn't planned on going there and didn't have the card so used mc/visa.

    A sidenote.... back when I started getting a little coin got the NM card. For some reason it was about 1/2 to 3/4 inch shorter (in heighth) than a standard card. Saks 5th Avenue was the same. Maybe there were others but those are the only two I remember being unusual. Saks switched to the standard size pretty quickly and sent a new one. NM used the standard for new ones but let you use the old one for many years. So when you would buy something, they would always see it was an old card and it was almost like you had a VIP card or something. They would almost always comment on it, and sometimes offer free services/addons or maybe a small freebie. You would expect there would be enough out that it would not be rare, but it seemed that way especially when traveling. I don't know if they upgraded everyone and just missed a few or what..... After many years they did send a new card and stopped taking the old one.

    I did leave something else out, the letter had a number to call if I wanted to keep the account open, but I didn't do that right away and then the lockdown happened so didn't see the point.....




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