Saks Global

“A Saks Global that speaks to the luxury customer - that is stable and growing and profitable - is a cornerstone of the industry,” said Saks Global CEO Geoffroy van Raemdonck in a recent interview with Romaine Bostick, CFA. In his return to Bloomberg’s ‘The Close,’ Geoffroy highlighted the significant progress we have made in building a stronger Saks Global, and how the sustainable growth outlined in our Plan of Reorganization will benefit the greater luxury retail ecosystem. In the interview, Geoffroy also discussed the state of the U.S. luxury consumer, and underscored Saks Global’s role as the gateway to this customer. As we look toward anticipated emergence this summer, we remain committed to driving profitable growth, being a strong partner to established and emerging designers, and serving our customers with the true luxury experience they expect across our luxury banners. Watch the full interview here: https://lnkd.in/eim63PEH

As we position Saks Global for the future, Geoffroy van Raemdonck recently joined Imran Amed and Cathaleen Chen at The Business of Fashion for an in-depth discussion about the meaningful progress we have made in the last four months and our path forward. During the conversation, Geoffroy emphasized our commitment to our brand partners and discussed how Saks Global can connect them to our loyal customers by serving as the gateway to the U.S. luxury consumer. He also shared the important steps we have taken to sharpen our focus on luxury and full-price selling, and how the path outlined in our Plan of Reorganization sets us up for profitable and sustainable growth. The progress we have made and our plans for the future underscore our relentless devotion to the luxury customer. We look forward to delivering an exceptional multi-brand shopping experience post-emergence and beyond. Read the full interview and listen to the podcast: https://lnkd.in/e-prPfBc https://lnkd.in/eShi_CBV

Saks Global CEO Geoffroy van Raemdonck recently sat down with Suzanne Kapner at The Wall Street Journal to discuss our approved Disclosure Statement accompanying our Plan of Reorganization, and our path to profitable and sustainable growth. During the interview, Geoffroy shared the decisive actions we have taken to position the company for enduring success, highlighting our sharpened focus on full-price selling and reengaging the luxury customer as we drive continued momentum across the business.  As we advance toward emergence this summer, we remain committed to strengthening our relationships with our incredible brand partners to deliver expertly curated luxury assortments to our customers across our three banners Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. Read the full interview here: https://lnkd.in/e32mUb9B

Members of our Saks Fifth Avenue and Neiman Marcus merchant team recently attended the annual Watches and Wonders summit in Geneva, Switzerland, where they previewed the world’s most sought-after timepieces and jewelry. As a leading industry event, Watches and Wonders brings together the best in watchmaking and offers an invaluable opportunity to connect with our brand partners, strengthening the relationships that drive innovation and expand access to an exceptional assortment for our customers. Across our portfolio, our teams are thoughtfully curating a selection of distinctive pieces designed to inspire and delight.

Geoffroy van Raemdonck, Saks Global CEO, recently visited our Saks Fifth Avenue Naples store, engaging directly with the team who brings the brand to life for our customers. The visit underscored the strength of our people, whose expertise, longstanding customer relationships and individual talents continue to define the in-store experience. The visit provided an opportunity to align on key priorities as we advance our transformation and position Saks Global for long-term growth. Following the visit, Geoffroy hosted a virtual Coffee Connect alongside Mary McGreevy, Chief Stores Officer, Saks Fifth Avenue and Neiman Marcus, with Saks Fifth Avenue store leaders—an open forum designed to strengthen connection and dialogue. In the conversation, Geoffroy shared progress on our ongoing transformation journey, reinforced the critical role our store teams play in driving our business forward and highlighted his continued belief in the strength of the Saks Fifth Avenue brand. Connecting with our store teams remains a key priority as we continue to strengthen and build a stronger Saks Global for the future in service of our customers, brand partners and one another.

Saks Global leaders were pleased to join the industry in celebrating Brunello Cucinelli at the New York gala screening of ‘Brunello: The Gracious Visionary.’ A valued brand partner for more than 20 years, Brunello Cucinelli continues to exemplify the very best of craftsmanship, tradition and timeless design—values that deeply resonate with our customers and define our shared commitment to excellence. Mr. Cucinelli’s commitment to humanistic capitalism is equally notable, fostering a business model that prioritizes human dignity alongside long-term sustainability. His distinction as the 2023 recipient of the Neiman Marcus Award for Distinguished Service in the Field of Fashion further reflects his enduring influence on the industry. We are proud to celebrate this remarkable milestone and our longstanding partnership. Congratulations to Brunello Cucinelli on this incredible moment! Photo credit: BFA and Gavin Bond

Saks Global is proud to debut the Prada Women’s Days of Summer collection, with an exclusive lead at select Saks Fifth Avenue and Neiman Marcus stores and online. Capturing summer as an attitude through reimagined hyper-classics, the collection comes to life across six dedicated windows at our Saks Fifth Avenue New York Flagship, offering an immersive expression of Prada’s vision and craftsmanship. We are delighted to celebrate our continued partnership with Prada through this exclusive offering, reinforcing our commitment to providing our customers with expertly curated assortments from the world’s most desired brands. Read more: https://lnkd.in/eUB3Czv2

Geoffroy van Raemdonck recently joined Oliver Chen, CFA on the TD Cowen Insights podcast to discuss the meaningful progress we are making across Saks Global to position the company for profitable and sustainable growth. During the conversation, Geoffroy highlighted the strategic actions we have taken to prime the company for long-term success, including strengthening brand partner relationships, optimizing our operational footprint, sharpening our focus on luxury and full-price selling and streamlining our supply chain network. As we look ahead, we remain committed to solidifying Saks Global’s position as the premier destination for true luxury through Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. Listen to the full interview here: https://lnkd.in/eZCpHP7D

Saks Global has achieved another important milestone in our restructuring process. We have entered into a Restructuring Support Agreement with an ad hoc group of our senior secured bondholders, who have committed to provide $500 million in exit financing upon our emergence from chapter 11. This is a critical step forward in the chapter 11 process as we work toward our expected emergence this summer. Since filing for chapter 11, we’ve made meaningful progress—stablizing our financial foundation, strengthening brand partner relationships and improving inventory flow—guided by our relentless devotion to the luxury customer. Our sales and inventory results continue to outperform our internal plans. This, along with the committed capital we have secured, ensures we will have sufficient liquidity to operate effectively through the completion of the restructuring process, positioning us for a successful emergence. Read more: https://lnkd.in/egUQ3Ncd

As Women’s History Month comes to a close, we’re reflecting on the many ways our teams came together to celebrate the achievements and impact of women across our communities. Throughout the month, colleagues engaged in meaningful conversations and events showcasing the voices and contributions of women across Saks Global. The WOMEN at Saks Global ERG hosted a virtual panel featuring Darcy Penick, Lana Todorovich and Tracy Margolies and moderated by Dr. Alicia Williams, who each shared their unique perspectives on leadership and resilience, while exploring how they are navigating change and working to position Saks Global for enduring success. Colleagues also gathered for a special Women’s History Month edition of the SaksWorks Book Club, discussing ‘When Women Ran Fifth Avenue: Glamour and Power at the Dawn of American Fashion,’ by Julie Satow. Within our stores, Neiman Marcus Fort Worth hosted a women’s panel luncheon featuring fashion presentations and a speaker panel where participating brands discussed the women who inspire them. Saks Beverly Hills welcomed Jayne Kennedy Overton for an intimate conversation on her life and memoir. The event also showcased female-founded businesses through curated bites, signature cocktails and a dedicated pop-up shop. Together, these moments reinforce our ongoing commitment to supporting and uplifting women—shaping how we lead our company, serve our customers and engage with our communities.