It’s an area where van Raemdonck certainly has experience: In 2018, he became CEO of Neiman Marcus Group (which included Bergdorf Goodman), then struggling under the weight of heavy debt from years of private equity ownership that ultimately led to bankruptcy. This time around, as CEO of Saks Global, which also piled on debt stemming from the $2.7 billion union of upscale department stores in 2024, he’ll have an even tougher job with multiple chains to fix.
During his six years running Neiman Marcus, he succeeded in protecting its market share and returned it to profitability. In that job, he often called his management philosophy “leading with love,” a term that often won him snickers at conferences.
