Related not buying Neiman Marcus, says Steve Ross

Chair noted the department store will be a great tenant at Hudson Yards

TRD New York /
May.May 25, 2017 06:35 PM

Related Companies chair Stephen Ross said his firm has no interest in buying Neiman Marcus, despite recent talks over a possible merger.

“Neiman Marcus is a great company, and we are a developer, and I don’t think those two areas come together,” Ross said in an interview with Fox Business.

Executives from Related TRData LogoTINY recently met with Neiman Marcus to discuss acquiring or investing in the luxury chain, which in 2014 signed a 250,000-square-foot lease to anchor the retail component of the massive Hudson Yards project. However, the company has since suffered a decline in sales.

Ross told FOX Business that online retailers like Amazon and the tax advantages that they receive have greatly hurt retail but noted that more than 90 percent of sales still took place in stores, not online, and that Hudson Yards was “changing the new heart of New York.” [Fox Business]Eddie Small


Related Articles

arrow_forward_ios

Related is the latest developer to target the Rockaways

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Related, Equinox, the Miami Dolphins. What else does Stephen Ross own?

15 Hudson Yards (Credit: Related-Oxford, iStock)

First he sold a plot of land to Hudson Yards’ developers. Now he owns 7 luxury condos there

Stephen Ross

Related, Equinox, the Miami Dolphins. What else does Stephen Ross own?

The Plaza Hotel in 1975 and models walking the runway during New York Fashion Week September 2019 (Credit: Getty Images)

Fashion Week struts its stuff at these iconic NYC locations

From left: Prabal Gurung, Dana Lorenz and Stephen Ross (Credit: Getty Images)

Stephen Ross backlash hits Hudson Yards

Inside Stephen Ross’ massive empire of gyms, condos, coffee and more

arrow_forward_ios