Neiman Marcus’s CEO recently made a statement about the type of customer that the luxury department store operator wants to attract. Some sales staff believe he is putting out the wrong vibe, which might end up hurting the retailer.
Geoffroy van Raemdonck, CEO of Neiman Marcus, said in a Fortune interview earlier this month that the retailer plans to focus on the two percent of its customers that make up 40 percent of its sales, those customers being its wealthiest, the New York Post reported.
“We are no longer about selling everywhere on the price spectrum, from clearance to high-end jewelry,” Mr. van Raemdonck said in the interview. He characterized it as preferable to have regular shoppers spending $27,000 per year vs. single-visit transactions with no guaranteed customer return.
