For a century, Downtown Dallas' “One Marcus Place” has been a hub of the global fashion scene. Names like Coco Channel, Christian Dior and Salvatore Ferragamo have all stopped by to pay respects to a homegrown department store that blossomed into an iconic luxury retail brand.

Nearly 120 years after its opening, the luxury department store’s historic Dallas headquarters is shuttering, Saks Global, the new owner of Neiman Marcus, revealed in a statement. The headquarters will be closing its doors for good on March 31.

The luxury department store's new owner will spend $100 million to renovate an anchor location at the nearby NorthPark Center mall.

Back-to-back announcements centered on an iconic Dallas retail brand is sending shockwaves through the region. Neiman Marcus will shutter its flagship downtown Dallas store effective March 31, just months after Saks Global acquired the luxury retailer for $2.65 billion.

Exterior view of the Neiman Marcus flagship store on Main Street downtown on Thursday, Aug. 13, 2020, in Dallas. Neiman Marcus has long been the lodestar of a city bent on consumption and dreams of glamour,

You loved our Neiman bars recipe so much that we had to make it into a party appetizer! In this video, Nicole shows you how to make Neiman Marcus dip with chopped bacon, shredded cheddar cheese, and more flavorful ingredients.