Exemplar Luxury Group Chief Buying Officer Paolo Riva to Leave in September

Paolo Riva, chief buying officer of U.S. luxury retail group Exemplar Luxury Group, will leave the company on September 18. First reported by WWD, the departure is attributed to personal reasons. The company is expected to begin searching for his successor shortly.

Summary

An Executive Exit Three Months After Restructuring

Exemplar Luxury Group is the U.S. luxury retail group behind Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.

Formerly known as Saks Global, the company filed for Chapter 11 bankruptcy protection in January 2026. It completed its restructuring process on June 26 and emerged under new ownership as Exemplar Luxury Group. The restructuring reduced its debt by nearly 75% as the company moved to strengthen its financial foundation.

Riva’s departure will come nearly three months after the completion of that process. No other leadership changes have been announced in connection with his exit.

Leading the Product Strategies of Saks and Neiman Marcus

Riva joined Neiman Marcus Group in 2021 as general manager of brand partnerships and merchandising at Neiman Marcus.

After Saks Global completed its $2.7 billion acquisition of Neiman Marcus Group in December 2024, Riva took on responsibility for integrating the buying teams of Saks Fifth Avenue and Neiman Marcus. He served as chief brand partnerships and buying officer before being named chief buying officer in January 2026.

In that role, he oversaw buying and merchandising across both department stores, helping shape assortments for their distinct customer bases. Bergdorf Goodman, which maintains a separate buying and merchandising organization, has not been under his leadership.

Before joining Neiman Marcus, Riva built much of his career in the luxury sector, holding positions at Valentino and Tory Burch. He also previously served as chief executive officer of Diane von Furstenberg.

Rebuilding Relationships with Brand Partners

Saks Global faced mounting challenges with its brand partners as its financial condition deteriorated and delayed payments led some vendors to stop shipping merchandise.

Against this backdrop, Riva played an important role in restoring dialogue with suppliers, rebuilding trust and helping stabilize the group’s product flow. He also guided the buying organization through bankruptcy and a broader corporate restructuring while working to strengthen the assortments at Saks Fifth Avenue and Neiman Marcus.

Darcy Penick, president and chief commercial officer of Exemplar Luxury Group, said in a statement to WWD: “Paolo has played a pivotal role in shaping our expertly curated product assortments across Neiman Marcus and Saks Fifth Avenue. Through his deep relationships with our brand partners and understanding of the differentiated customer base of each banner, Paolo has established a strong foundation for our merchandising strategy. He has successfully led his organization through significant change and has been an integral part of the company’s transformation.

We are grateful for Paolo’s leadership, expertise and unwavering commitment over the past five years. His contributions have left a lasting mark on our teams and our business. On behalf of the entire Exemplar Luxury management team, we thank him for all of his contributions, and wish him the best.”

Succession and Business Recovery in Focus

Exemplar said it supports Riva’s personal decision and will work with him through September 18 to ensure a smooth transition for its brand partners, employees and broader business.

Until a successor is appointed, chief executive officer Geoffroy van Raemdonck, Penick and chief global brand partnerships officer Lana Todorovich will continue to serve as key contacts for the group’s brand partners.

On the financial front, the former Saks Global reportedly generated $1.6 billion in sales between January 14 and May 2, 2026, while recording a loss of $63 million.

Following its emergence from Chapter 11, Exemplar’s next phase will depend not only on sustaining its financial recovery but also on stabilizing brand relationships, product availability and differentiated assortments across its department store businesses.

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