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Neiman Marcus Group establishes an environmental social governance team

By Tess Stenzel

Apr. 23, 2021

Business

Neiman Marcus

The Neiman Marcus Group has announced the companies’ first team devoted to environmental improvements throughout its operations.

The Environmental Social Governance team (ESG) strategy includes collaborating with independent third-party consultants to assess the companies most crucial environmental initiatives, set time-bound goals, invest in sustainable technologies, and publish a comprehensive strategy later this year.

“Now more than ever, environmental sustainability is top of mind for the fashion and retail industries,” stated Geoffroy van Raemdonck, chief executive officer, Neiman Marcus Group, in a release.

“As the preeminent luxury customer platform, it’s our responsibility to take action and address sustainability issues for our associates, customers, investors, and the future of our great company.”

The company stated it had implemented strategies to invest in technology to create more efficiency in its supply chain while offering consumers more sustainable brand choices throughout its Neiman Marcus and Bergdorf Goodman department stores.

“Our new, flexible merchandising structure will honor the diverse and innovative sustainability approaches among brand partners and enable discerning customers to shop the product attributes they care about most,” added Raemdonck.

Additionally, to create a more circular economy, the group stated it would expand its Fashionphile offering to more store locations throughout the US. Fashionphile is a reselling network for pre-owned luxury handbags and accessories. Since the launch in 2019, the company said it has saved over 18,000 items from landfills.