“Founded on bad business judgment.” That’s what they jokingly said about Neiman Marcus. Right here stands a plaque a testament to a retail empire. It all began with a missed chance at Coca-Cola.
In 1907 Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman chose fashion over fizz. They invested their $25,000 into a Dallas store. This decision shaped luxury retail history.
Neiman Marcus opened its doors on September 10 1907. The store was lavish. It stocked clothing of a quality unseen in Texas. Oil-rich Texans flocked to flaunt their wealth. The store was an instant success.
Just a few weeks after opening the Panic of 1907 struck. Despite this Neiman Marcus thrived. Its first years were profitable.
In 1914 disaster struck. A fire destroyed the Neiman Marcus store. All merchandise was lost. But the setback was temporary. A new store opened at Main Street and Ervay Street.
The flagship Neiman Marcus Building expanded product selection. Accessories, lingerie, and children’s clothing were added. The women’s apparel department grew. Profits nearly doubled in the new location’s first year.
Neiman Marcus premiered the first weekly retail fashion show in the US in 1927. In 1936 the store honored Texas’s centennial. A show titled “One Hundred Years of Texas Fashions” was staged. Vogue editor Edna Woolman Chase declared her dream of the perfect store had come true. She meant Neiman Marcus.
Menswear was introduced in 1929. During the Depression Neiman Marcus offered less-expensive lines. Sales grew significantly during the war years. Another fire in 1946 didn’t stop the profits.
Herbert Marcus Sr. died in 1950. Carrie Neiman died two years later. Stanley Marcus took charge. He was the architect behind fashion shows. He launched New York advertising for a regional chain. He also created in-store art exhibits. And of course the Christmas catalog with outlandish gifts.
The Neiman Marcus Christmas Book became famous. It offered “His and Hers” gifts. These included airplanes and Noah’s Ark.
Stanley Marcus died in 2002. He left a legacy of innovation and extravagance.
Neiman Marcus changed hands several times. It was publicly listed. Then it became subject to a leveraged buyout.
Today Neiman Marcus is owned by Saks Global. It continues to operate under its original name. It remains headquartered in Dallas. It’s a testament to vision and resilience. The Neiman Marcus plaque reminds us of this rich history. A history of high fashion bad business decisions and Texas ambition.