Neiman Marcus: A case of retail shifts and the COVID19 accelerator EMBRYO CASE
While the world was still in the beginning stages of the lockdown from COVID-19, Neiman Marcus was struggling with competition from online rivals and battling to keep up with finances. During the disruption of the virus that has rocked the world, Neiman Marcus was the second retailer to file for Chapter 11 bankruptcy protection. The well-known luxury department store had been struggling with cash before the outbreak of the virus, having $5.5 billion in debt. Neiman Marcus expects to emerge from bankruptcy Fall of 2020, but will it? The case prompts students to examine what is needed to create a competitive advantage in the fashion industry. In addition, students will evaluate the main skills necessary to be a strategic leader.