Saks Global, the luxury collective that comprises multi-brand luxury retailers Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, has completed its restructuring process and emerged from chapter 11 under new ownership and with a rebrand to Exemplar Luxury Group. The company has reduced its debt by nearly 75%.

Geoffroy van Raemdonck, Chief Executive Officer at Exemplar Luxury Group, said the restructuring reflects the company's commitment to setting the standard of excellence for luxury retail across all three banners.

The company will continue to operate through its integrated retail model, including an optimised store footprint, e-commerce platforms and remote selling services.

In conjunction with the company's emergence, its Board of Directors has been reconstituted. Pentwater Capital Management and Bracebridge Capital will each have two representatives on the seven-person board. Van Raemdonck and two independent directors have been appointed:

• Dave Kimbell, previously Chief Executive Officer at Ulta Beauty, who has also held leadership positions at PepsiCo and The Procter & Gamble Company, and currently serves on the Board of Best Buy, Inc.
• Philippe Schaus, previously President and Global Chief Executive Officer at Moët Hennessy, who also served as Global Chairman and Chief Executive Officer at DFS Group and was a Member of the Executive Committee of LVMH for over 12 years.

For more information, visit saksglobal.com.