Ala Moana Center is losing a longtime anchor tenant.
Saks Global Enterprises on Friday announced it will close three more Neiman Marcus stores and 12 Saks Fifth Avenue locations across the U.S. — including the Neiman Marcus location in Ala Moana Center, which opened in 1998.
In January, Saks Global, which operates brands that include Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and Saks OFF 5th, filed for Chapter 11 bankruptcy, the Associated Press reported at that time.
Last month, the company said it is “refining the Saks Fifth Avenue and Neiman Marcus store footprint to focus on profitable locations with the highest growth potential.” At that time, it was announced that eight Saks Fifth Avenue locations and one Neiman Marcus location would close.
You can find a list of all closures here.
In a statement provided to media on Friday, Retail Merchants of Hawai‘i said the organization — a statewide, membership-based, not-for-profit trade organization that advocates for and supports Hawai‘i’s retail industry — was “deeply saddened” by the pending closure.
“Since opening its doors in 1998, Neiman Marcus has played an important and meaningful role in Hawaiʻi’s retail community and in the lives of residents and visitors who have made the store part of their traditions and special,” the statement reads. “While we understand that this decision reflects broader strategic changes by Saks Global Enterprises, which has indicated a reduction in its physical store count and a focus on specific major markets and demographics within its luxury retail portfolio, the loss of the Honolulu store is significant for Hawai‘i. Neiman Marcus has long been a leader in luxury retailing here, helping to elevate Hawai‘i’s position as an international shopping destination.”
Lindsay Kahn, senior director of public relations for Ala Moana Center owner GGP, said in an email to Aloha State Daily that Friday's news "presents our team with an exciting opportunity.”
“This is extremely valuable real estate with coveted water views and opportunities to repurpose space of this scale are rare,” she says. “Ala Moana Center remains one of the most iconic retail destinations in North America, and we have proactively been working behind the scenes on future plans to further enhance this global center to our local community and visitors.”
Other outlets, citing company officials, have reported that Neiman Marcus will remain open through the end of May. The exact closing date for Mariposa, a restaurant located within Neiman Marcus, had not yet been confirmed as of Friday, according to sources close to the retailer.
Ala Moana Center opened in 1959 and is the world's largest open-air shopping center with more than 2.4 million square feet of retail space. It offers more than 350 stores and restaurants and 160 dining options. In addition to Neiman Marcus, other anchor stores include Bloomingdales, Nordstrom, Macy’s and Target.
Neiman Marcus got it start in Dallas in 1907, founded by Herbert Marcus, his sister Carrie Marcus Neiman and her husband, A.L. Neiman. They were torn between starting their own company that would bring "world-acclaimed fashion design home to Texas," or investing in an emerging beverage company — Coca-Cola.
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Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
