DALLAS — Saks Global, parent company of Saks Fifth Avenue and Neiman Marcus, announced Friday that their Dallas flagship store will stay open until at least the end of the 2025 holiday season.

What You Need To Know

  • Saks Global decides to keep its flagship Dallas store open through the 2025 holiday season, reversing earlier closure plans

  • A new retail concept aims to enhance customer experience, community development and downtown Dallas

  • The Neiman Marcus Building, open since 1914 and on the National Register of Historic Places, remains a downtown landmark

  • This decision follows a period of financial challenges, including bankruptcy protection for Neiman Marcus in 2020

City officials and Saks Global executives allegedly convened to discuss a groundbreaking retail model that would enhance customer experience, community development and downtown Dallas.

“We are excited that Saks Global has decided to keep Neiman Marcus open downtown, as we explore the opportunity to unlock the potential to transform downtown into an international beacon and economic engine for fashion - just as the Neiman Marcus founders intended when they opened the store more than 100 years ago,” said Dallas City Manager Kimberly Bizor Tolbert.

The redesigned space may feature a luxury retail area, an art exhibition and a fashion and event venue.

“We deeply admire the city’s passion and unwavering dedication to Neiman Marcus’ storied legacy in Dallas. The potential re-imagination of this iconic shopping destination reinforces Saks Global’s commitment to redefining the luxury shopping experience,” said Marc Metrick, Chief Executive Officer of Saks Global. “As we explore opportunities for the Downtown store, along with the planned renovation at the NorthPark store, we will evaluate the opportunity to utilize both locations to serve different customer needs in the Dallas market.”

Back in February, Saks Global confirmed to news outlets that the flagship store would close on March 31.

At the start of the COVID-19 pandemic in May 2020, Neiman Marcus sought bankruptcy protection. That September, the company successfully left bankruptcy protection.

Since its opening in 1914, the Neiman Marcus Building has been a downtown Main Street fixture. A new store replaced the one destroyed by fire on Elm Street in 1914.

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The building holds a place on the National Register of Historic Places.