THE WHAT? Neiman Marcus Group has published its first Environmental Social Governance Report, titled, Our Journey to Revolutionize Impact. The paper outlines the department store chain’s 2025 ESG strategy and shares progress to date.
THE DETAILS The group is aiming to revolutionize luxury experiences by extending the useful life of 1 million luxury products through circular services, upping revenue from sustainable and ethical products and reducing emissions by 50 percent from a 2019 baseline. It has also pledged to cultivate a culture of belonging through advancing workplace equity, increasing racial diversity in leadership roles to 21 percent, growing spend with diverse suppliers and providing belonging training to all NMG associates.
THE WHY? Pamela Edwards, Chair, Audit Committee Board of Directors, commented, “These commitments enable us to hold Neiman Marcus Group to public company standards while moving with the speed and agility of a private company.”