What: Neiman Marcus Group is working to change its working culture to “revolutionise” the luxury experience through inclusion, diversity and belonging.

Why it is important: To revolutionise the luxury industry, Neiman Marcus Group believes in the importance of diverse thinking and backgrounds, which has proven to impact talent satisfaction with Forbes ranking NMG as one of the best places for women to work.

As well, the Human Rights Campaign has characterised the group as the “Best Place to Work for LGBTQ+ Equality.” By supporting different lifestyles and providing a united purpose, the group’s workforce is productive and happy, leading to a healthier balance sheet and more technological investments in customer experience. 90% of customers are retained year-over-year with 40% of revenues coming from only 2% of NMG customers.

The NMG CEO highlights the emotional aspect of luxury and this contradiction with the modern transactional era as being part of what has fueled the shift within the group’s working culture. Despite many retailers struggling to find and keep employees, NMG’s retention rates have increased by 20% compared to pre-pandemic figures.

Neiman Marcus Group CEO talks transformation