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Neiman Marcus Opens First Northwest Store

-- Gifts and Dec, 9/18/2009 1:11:00 PM

Bellevue, WA – Luxury retailer Neiman Marcus Group Inc. opened its first store in the Pacific Northwest, according to the Bloomberg news service. In this time of store closings, Neiman is betting on the area because median income is as much as four times the U.S. average.

Neiman Marcus, owned by Warburg Pincus LLC and TPG Inc., typically opens one store a year, said Wayne Hussey, senior vice president of properties and store development for Neiman Marcus. “We make these decisions for the long term, not the short term, and the economy will improve,” he said.

The three-floor store is decorated in a Northwest theme and features art made out of recycled materials.
The launch featured a sold-out black-tie charity gala at the store for 1,200 guests, including basketball Hall of Fame guard Magic Johnson. The Dallas-based retailer's offerings include jeans designed by Johnson’s wife, Cookie.

The store anchors the Bravern complex, a 1.6 million square foot office, retail and residential real-estate package developed by Schnitzer West LLC. The complex's stores were modeled on a European village, complete with courtyards and walkways. Restaurants include Zagat user's pick Wild Ginger, and the project’s two office towers are leased to Microsoft. The presence of Neiman Marcus helped Schnitzer sign up other upscale retailers including Hermes and Louis Vuitton.

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