Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.
Why Neiman Marcus Is Closing Its Hudson Yards Store
The department store chain is rethinking its store count as its customer base shifts to online shopping.

New York—Neiman Marcus is moving out of Hudson Yards, the slick, uber-chic development on the west side of Manhattan.
As the retailer moves through Chapter 11 bankruptcy proceedings, it’s taking a closer look at how many stores it has and where, weighing that against how consumer behavior has changed in recent months.
The retailer said it has analyzed the changes in the retail environment and believes customers’ new online shopping habits will stick.
“The COVID-19 pandemic reaffirmed the importance of our stores as a key place to build customer relationships in the context of our digital ecosystem,” a spokesperson said in a statement to National Jeweler.
In a court filing last week, the department store chain listed a total of four locations that are on the chopping block, including the 188,000-square-foot store in the Hudson Yards shopping center.
Opened in March 2019, the location is spread across three levels in the high-end mall, featuring four restaurants and trendy offerings including a spa, a pop-up florist, a leather care station and personal shopping services.
The location also houses a stage for live performances. Academy Award-winning actress and singer Liza Minelli performed at the store’s opening party.
The other Neiman Marcus stores closing for good are in Fort Lauderdale and Palm Beach, Florida and the store in Bellevue, Washington.
The department store chain has been struggling under a mountain of debt followed by the disruptions related to the coronavirus pandemic, including temporary store closures and the furloughing of 14,000 employees.
“A physical location in Hudson Yards is no longer an ideal space for us given the preponderance of restaurants and future office space in that mall,” Neiman Marcus said in a statement.
As of Tuesday, Hudson Yards was open at 50 percent capacity with several tenants offering curbside pickup.
The retailer said it will focus on the luxury customers it has through its Bergdorf Goodman store, and will serve its Neiman Marcus customers both online and at its other physical locations.
The Latest

The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.

Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.


The Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.

Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.

NYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.

U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.

Sapphire’s variety of colors make it the perfect birthstone for September.

The retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.

Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.

The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Sponsored by Clientbook

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.