The flagship Neiman Marcus store — which for more than a century served as a symbol of Dallas wealth, status and fashion downtown — will close its doors for the last time next month.
The store is set to close March 31 after it was notified from a landlord to terminate its occupancy, according to a statement from Saks Global, Neiman Marcus' owner since last year.
It comes after more than a decade of negotiations, the company said.
"This location has been a beloved institution in the community for more than a century, and we are disappointed to be losing a piece of Neiman Marcus history," the statement read.
Neiman Marcus has been a part of the city's identity for decades. It was founded by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. They broke ground with its first store in 1907 at the intersection of Elm Street and North Field Street.
Following a fire a few years later, the brand opened its flagship store at Main Street and Ervay Street, where it's remained ever since.
But despite the building's iconic status, Saks said workers at the downtown Neiman Marcus offices only used the space 11 days per year on average, or about 4% of the time.
In May 2020, the company filed for Chapter 11 bankruptcy but emerged from bankruptcy in September that same year. In July 2024, Saks parent company Hudson's Bay announced it would acquire Neiman Marcus for $2.65 billion.
The brand has opened 36 stores across the country over the past century.
A Saks Global spokesperson said the company plans to invest $100 million to renovate its NorthPark store. The luxury retail chain also announced last week it would be closing its offices at CityPlace, less than a year after its merger with Saks Fifth Avenue.
Saks announced on Monday it would only have one corporate headquarters in New York after "consolidating corporate office space."
"We recognize the role Neiman Marcus plays in Dallas and we remain highly committed to serving our customers and to ensuring Neiman Marcus’ legacy there," the company's release said.
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