Business - October 3, 2017

Neiman Marcus tests new tech to save its retail business

[dropcap]N[/dropcap]eiman Marcus is testing touch-screen technology to revive its struggling brick-and-mortar stores.(Credit: Getty Images)
Mastercard and Marie Claire launch the Next Big Thing Concept Shop, a pop-up store in New York City that showcases what’s next for the retail shopping experience.

Fashion magazine Marie Claire and credit-card giant Mastercard are launching a pop-up store with Neiman Marcus goods next week at Richard Talmadge’s 120 Wooster Street in Soho.

Touch-screen mirrors dot the dressing rooms, allowing customers to request articles in different sizes and buy them on the spot without having to stand in line for a cashier.

Neiman Marcus ditched plans for an initial public offering in January in the wake of lackluster earnings.

Earlier this year, Related Companies executives met with the retailer’s leadership to discuss a potential acquisition, but on May 25, the development giant’s founder Stephen Ross said he is not interested in buying the retailer.

Last month, reports emerged that Neiman Marcus wants to downsize its planned flagship store at Hudson Yards, but the retailer denied this. [Bloomberg] — Konrad Putzier

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