Saks Global emerges from bankruptcy as Exemplar Luxury Group with bold new leadership

Saks Global has completed its Chapter 11 bankruptcy process and rebranded as the Exemplar Luxury Group. The move follows months of financial restructuring to address debt and liquidity challenges. The company now operates under a new name with a fresh leadership team in place. Saks Global filed for bankruptcy in January 2026 after struggling with financial pressures. The issues stemmed from its $2.7 billion acquisition of the Neiman Marcus Group, led by Richard Baker. The company faced difficulties paying vendors and maintaining inventory levels, forcing the restructuring decision.

The bankruptcy process reduced the company’s debt by nearly 75 percent. This provided the business with sufficient liquidity to move forward. Under the new structure, the Exemplar Luxury Group now oversees Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue.

A new board of directors has been formed. It includes representatives from Pentwater Capital Management and Bracebridge Capital, as well as independent directors. Geoffroy van Raemdonck, the group’s CEO, joins the board alongside Dave Kimbell and Philippe Schaus. Kimbell previously led Ulta Beauty and held roles at PepsiCo and Procter & Gamble, while Schaus has experience as president of Moët Hennessy and CEO of DFS Group. The Exemplar Luxury Group aims to stabilise its operations and drive growth in the luxury retail sector. With its debt significantly reduced and new leadership in place, the company intends to set a higher standard for luxury retail in the U.S. The rebranding marks a fresh start after a challenging financial period.