Karen Katz
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Most Recent Articles On Business FeaturesKAREN KATZ
TITLE: President and chief executive officer.
COMPANY: Neiman Marcus Inc.
NOMINATED FOR: Katz has never put all her designer eggs in one basket. She has broadened the luxury retailer’s assortment to offer greater value for aspirational customers without forsaking the core designer crowd. She has also proven to be no snob when it comes to fraternizing with the mass market, joining Target Corp. and the Council of Fashion Designers of America for a collection of more than 50 designer exclusives for holiday, which launches Saturday. The collection, called Target + Neiman Marcus, will be sold at Neiman’s 42 units. Katz made the bold decision to sell the Neiman’s name inside Target stores, concluding that the quality of the products won’t dilute the luxury retailer’s reputation.
The ceo bolstered executive ranks at Neiman Marcus Group this year by tapping Joshua Schulman in April as president of Bergdorf Goodman, a position that had been vacant since Jim Gold was promoted to president of specialty retail for the Neiman Marcus Group, which operates Bergdorf’s, in 2010. A bevy of initiatives and solid financials are what keeps investors interested in an initial public offering, which observers see as inevitable. Neiman’s narrowed its loss in the fourth quarter ended July 28, and posted a strong fiscal year with sales of $4.35 billion, an 8.6 percent increase over the previous year.
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