ARLINGTON, Va. - Dec. 28, 2015 - PRLog -- In the face of slightly increased holiday spending this year, some retailers wondered why they experienced drooping sales. Ira Neimark, former CEO of Bergdorf Goodman and author of four books on retailing, offers this insight: “For today’s department store customer, holiday shopping is confusing, unexciting, and stressful. With every day off-price sales, poor customer service, and unimaginable shopping hours, the fun and enjoyment of holiday shopping in a store is nearly a thing of the past.”
The noticeable difference is in luxury retail, which has seen increases in both in-store and online sales in recent years, according to McKinsey & Company. Neimark explains, “Luxury retailers, even though owned in most cases by conglomerates, maintain the excitement of new fashionable merchandise with excellent customer service. The luxury business continues to expand year after year around the world.”
In his latest book, The Rise of Bergdorf Goodman and the Fall of Bonwit Teller: Triumph and Tragedy on Fifth Avenue (GamePlan Press), Neimark offers three reasons why many luxury retailers are having a champagne holiday. To succeed, the store must have:
· A knowledgeable and well financed owner
· Proven and experienced management
· Inspiring and accomplished leadership
“These three business requirements led Bonwit Teller to its luxury fashion dominance in the 1930s, 40s and early 50s,” notes Neimark. “The lack of these business necessities led to Bonwit Teller’s eventual fall.”
“In contrast,” he continued, “Bergdorf Goodman, from its very beginning, had all three of these requirements, leading to its great success as a prosperous business, as well as rising to be the luxury fashion leader.”
For more information or to interview the author, contact Maryann Karinch, maryann@karinch.com, 970-577-8500
Ira Neimark is a legendary retail executive whose career spans several decades. As Chairman and CEO of Bergdorf Goodman, he set records for the company throughout 17 years of masterful leadership. During his tenure, he opened the largest luxury men’s store on Fifth Avenue. He also distinguished himself in top management/merchandising posts at Neiman Marcus Group, B. Altman, G. Fox, Gladdings, and Bonwit Teller. The author is Director Emeritus of Hermès of Paris and Director Emeritus of The Fashion Institute of Technology Foundation. He served as Adjunct Professor of retail marketing at the Columbia University Business School. The governments of Italy and France awarded him the prestigious Cavaliere Della Republica and Chevalier of the Order of Arts and Letters, respectively. He also received the Medal of the City of Paris.
GamePlan Press
GamePlan Press specializes in non-fiction by experts that provide how-to information related to career, business, lifestyle, relationships, and civic responsibility.
Title: The Rise of Bergdorf Goodman and the Fall of Bonwit Teller
Subtitle: Triumph and Tragedy on Fifth Avenue
Author: Ira Neimark
ISBN: 978-0-9882177-8-2
Formats: Available in hardcover
Price: USD 26.95
Publication Date: October 26, 2015
Contact
Maryann Karinch
***@karinch.com
Photos: (Click photo to enlarge)
Read Full Story - Former CEO of Bergdorf Goodman Sheds Light on Holiday Retailing Failures, Successes | More news from this source
Press release distribution by PRLog
