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Neiman Marcus' parent company emerges from bankruptcy with new name

The downtown Dallas flagship Neiman Marcus is still slated to close September 30.

Neiman Marcus

NEW YORK (AP) — Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy with fewer stores, less debt, a more focused strategy to pamper the affluent — and a new name.

The company said Friday, June 26 that the new entity will be called Exemplar Luxury Group, and with an improved balance sheet, including a nearly 75% debt reduction and $500 million in extra financing. Its CEO, Geoffroy van Raemdonck, said the New York-based company is ready for its next chapter after navigating several tumultuous years.

“Today is really a brand new day for the organization and a new day where these three iconic banners have the right funding, the right equity and a bright future ahead of them,” van Raemdonck told The Associated Press.

Van Raemdonck said that the new name signifies the company's focus on having an exemplary shopping experience — the best merchandise, and better personalized service with customers, with help from its sales associates and the treasure trove of data it has on its customers. The company employs more than 1,500 sales associates who have sold more than $1 million of goods each, he said.

Saks Global had filed for bankruptcy protection in January of this year, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, in July 2024.

Before the bankruptcy, there were 33 Saks stores and 36 Neiman Marcus locations, according to the company, as well as its Bergdorf Goodman store on Fifth Avenue and roughly 70 Saks Off 5th discount stores.

Now, there are a total of 49 stores — 15 Saks Fifth Avenue stores, 33 Neiman Marcus stores and its Bergdorf Goodman store. The company shuttered most of its Saks Off Fifth discount stores, and it now has 12 outlets, the company said.

In early June, Saks Global announced that the iconic downtown Dallas location of Neiman Marcus, at 1618 Main St., will close for good. The company said it plans to close the store on September 30, 2026 and focus on its NorthPark Center location in Dallas. The company's only Houston location is at the Galleria.

Exemplar Luxury Group said it has been teaming up with Pentwater Capital Management and Bracebridge Capital throughout its restructuring process. Both firms will have two representatives on the seven-person board. In addition, van Raemdonck as well as former Ulta Beauty CEO Dave Kimbell and Philippe Schaus, who most recently served as Global CEO of Moët Hennessy, will serve on the board, the company said.

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The story contains material from previously published CultureMap stories.

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FALL FÊTE

Texas luxury boutique collabs with Houston designer for new fashion brand

Photo courtesy of Saint Bernard

Saint Bernard teams up with Houston designer Lyndsey Zorich for Love Note.

River Oaks District boutique Saint Bernard is getting ready for fall with a new collection created with Houston style veteran Lyndsey Zorich. The fashion-forward retailer and the founder and designer of Mason's Daughter teamed up to launch Love Note by Lyndsey Zorich, a new Saint Bernard-owned brand.

Saint Bernard doesn't usually collaborate with local designers on its own brands, making this partnership with Zorich special. She was involved in everything from creative direction and textile development to fabrication and production. Shoppers can expect a feminine collection with a playful take on everyday dressing for women who want to look put together, but not too serious.

Love Note officially launches on Thursday, September 10 at Saint Bernard stores in Houston, Dallas, Southlake, San Antonio, and Austin, as well as online. Customers will have to be patient, because another unique aspect of this collaboration is that the entire collection won’t debut at once. Instead, the brand will roll out in a series of monthly drops, each having its own seasonal point of view.

Saint Bernard x Lyndsey Zorich Love Note by Lyndsey Zorich is available at Saint Bernard stores in Houston, Dallas, Southlake, San Antonio, and Austin, plus online.Photo courtesy of Saint Bernard

The Kick Off is the first drop in September. It is a game day-inspired collection with pieces designed for fall sports and weekend road trips. In October, The Lean In will debut with more feminine silhouettes, followed by Getting Comfortable, which focuses on the perfect layering pieces for Texas’s warm fall weather.

A longtime Saint Bernard shopper herself, Zorich's unique style and Texas perspective gave her a greater understanding of what Texas customers want.

“Getting dressed has always been one of my favorite forms of self-expression, and Love Note allowed me to take that idea from concept all the way through the finished product,” said Zorich. "Saint Bernard felt like the right partner, because I genuinely understand and love their customers. Love Note is meant to bring a little more playfulness to getting dressed, pieces that feel personal, special, and bring joy to everyday life.”

That individual connection is what Saint Bernard wanted in this project. According to Ashleigh Goyer, director of owned brands for Saint Bernard, the store wanted a new way for Saint Bernard to give customers something both recognizable and unexpected.

"She shares her perspective, her lifestyle, and her love of fashion, and she has an incredible ability to make getting dressed feel effortless and personal," said Goyer.

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