Marketing

Saks strategy is high-end shopping, white-glove service

Photo: DW labs Incorporated - stock.adobe.com

July 10, 2026

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Now that it has officially exited bankruptcy, Saks Global, the parent company of Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, aims to focus on high-end shopping and white-glove service and leave discounting behind.

The luxury brand closed stores, cut staff and corporate roles and revamped its debt at the start of 2026, according to a New York Times report.

Saks Global also changed its corporate name to Exemplar Luxury Group, in a move to note the company's new start. The new moniker signaled a fresh start for the business.

"It's going to reimagine what the luxury experience is," he said during an interview at Bergdorf Goodman's headquarters in Manhattan. "We're very realistic that you need to walk before you can run, so there's different phases, but that new day is so long awaited," Geoffroy van Raemdonck, the company's chief executive, told the NY Times.

Saks Global has closed its last Neiman Marcus Last Call discount stores and shuttered most of its Saks Off 5th locations.

"Off-price was not a profitable business for the company," van Raemdonck told the news outlet. "It's a business that requires scale, and it's a different skill set."