Brunello Cucinelli backs new Saks Global leadership amid Chapter 11 filing
While attending the second day of Pitti Uomo in Florence, following what he described as a "very, very interesting" opening, Brunello Cucinelli shared his enthusiasm for the leadership transition at the newly formed Saks Global.
"We were delighted to learn this morning that our highly esteemed Geoffroy van Raemdonck has been appointed CEO of Saks Global," Cucinelli stated. "We consider it one of the world's finest luxury department stores and have had a thirty-year relationship with them."
The appointment comes at a critical juncture. Saks Global—the entity overseeing Saks Fifth Avenue, Saks Off 5th, Bergdorf Goodman, and Neiman Marcus—officially initiated voluntary Chapter 11 proceedings yesterday in the U.S. Bankruptcy Court for the Southern District of Texas.
The company has confirmed that all stores will remain operational for the time being. The filing is designed to facilitate an ongoing transformation program, allowing Saks Global to reassess its operational footprint and stabilize its long-term future.
To steer the group through this restructuring, the company implemented a swift leadership overhaul. Geoffroy van Raemdonck, formerly the head of Neiman Marcus Group, has stepped into the CEO role. He succeeds Richard Baker, who stepped down just days after his initial appointment. Baker has also relinquished his position as executive chairman.
Cucinelli expressed deep confidence in Van Raemdonck’s ability to navigate the challenges ahead, citing a long history of mutual respect.
"We strongly believe that Geoffroy, along with his entire staff, starting with Lana Todorovich—from whom I received the prestigious Neiman Marcus Award in Paris in 2023—can expertly lead the historic department store," Cucinelli added.
The designer emphasized the personal and professional caliber of the new executive team: "We consider Geoffroy and his entire team to be people of integrity, with great taste, a deep understanding of style, and the utmost professionalism. They are people with whom we can have great discussions about the product, lifestyle, visual merchandising, and everything surrounding the collection and its presentation."
Despite the bankruptcy filing, Cucinelli remains optimistic about the future of Saks Global, reiterating his brand’s steadfast belief in the vital role of premium multi-brand retailers.
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