Fond Memories of Neiman’s: Industry Pros Share Thoughts on Sale to Saks Fifth Avenue

Fireworks are synonymous with the Fourth of July. But this year, Dallas received news that was equally explosive. Saks Fifth Avenue had sealed a deal to buy beloved hometown retailer Neiman Marcus for $2.65 billion.

The merger will create Saks Global — a combination of world-class luxury retail and real estate assets. Together, the companies will have about $10 billion in annual sales and more than 150 locations.

“We’re thrilled to take this step in bringing together these iconic luxury names,” Richard Baker, who will serve as executive chair, told the Wall Street Journal. Turns out, the deal is the culmination of a plan he put into place nearly two decades ago — the formation of a private equity firm targeting the acquisition of retailers with valuable real estate.

From a financial perspective, it appears to be a sound move. But for locals, it doesn’t come without emotion. CandysDirt .com asked four former NM employees — all who’ve made the switch to real estate or design — to comment.

Sam Saladino, Briggs Freeman Sotheby’s International Realty

“I had an idea it was coming,” said Saladino, who started working at the NorthPark store in 1997. “I was super lucky. When I joined, Mr. Stanley was still alive. From the very beginning, I got to work with incredible people who put their heart and soul into the mystique of Neiman Marcus.”

Much more than a job, it was an opportunity to establish himself. “Neiman’s was a big chunk of my life. For me, it will always feel like family.”

But times change. “You have to evolve with it. Whatever happens, the essence of what Neiman Marcus brought to Dallas will always be there,” he said.

Jan Jones, Interior Designer

“When people ask me where I went to school, I always tell them ‘The University of Neiman Marcus,’” said Jones. A freelance stylist for both home and fashion, she credits NM for helping shape her career.

“They had extremely high standards, taught me how to make a product look expensive on a small budget, and made me think about how to give a product ‘style.’

“I learned so much — arranging furniture, designing sets, searching for the perfect tear sheet, and looking through the camera lens. I wouldn’t change one thing about the 30+ years I worked for them,” she added.

KJ Murphy, Allie Beth Allman and Associates

For Murphy, now an agent with Allie Beth Allman and Associates, working at Neiman’s was a rite of passage. “It’s how all the models started. I sprayed perfume and got $50 for four hours.”

She went on to do fashion shows and catalog work. “It was high pressure. You were modeling for the crème de la crème.”

Neiman’s was also KJ’s first credit card. “When you worked, you got a discount. But back then we were poor and just wound up getting ourselves in bigger debt,” she laughed.

Raymond Crawford, Raymond Crawford Designs

Crawford, a needlepoint designer, did visual and display in both the Dallas and Chicago markets. “Each location taught me great business lessons that I still use today.”

His favorite memory dates back to 1992. “I realized no one was celebrating the 85^th birthday of Neiman Marcus. I thought it would be fun to have Mr. Stanley come up to our store in Northbrook, Illinois.

“We invited and he accepted. No one was more stunned and excited than me that this was all coming together,” said Crawford.

When asked about the merger, he said, “I’m not sure anyone knows how the ending will turn out. But Neiman Marcus and the Dallas DNA will always be intertwined.”