Leading through financial distress is familiar territory for van Raemdonck. In 2018, he stepped in as chief executive of Neiman Marcus Group, which included Bergdorf Goodman, at a time when the luxury retailer was buckling under heavy debt accumulated during years of private-equity ownership — a burden that ultimately pushed the company into bankruptcy.
Now, as CEO of Saks Global, van Raemdonck faces an even steeper challenge. The newly formed luxury retail giant emerged from the $2.7 billion merger of upscale department stores in 2024, inheriting significant debt and multiple legacy chains in need of strategic realignment.
During his six-year tenure at Neiman Marcus, van Raemdonck successfully defended the retailer’s market share and guided the business back to profitability, earning respect across the luxury retail sector. Central to that turnaround was his people-first leadership approach, which he famously described as “leading with love” — a phrase that often drew sceptical smiles at industry conferences but proved effective in stabilising morale and performance.
With Saks Global, that philosophy will now be tested on a much larger and more complex stage.
