Observed Signal · Jul 8, 2026 · Market Signal · Source: Saks Global · Impact: 5/5
Saks Global Rebrands as Exemplar Luxury Group, Emerges from Chapter 11
Saks Global has been renamed Exemplar Luxury Group, comprising Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman. The company has emerged from chapter 11 and refocused its strategy, with Saks OFF 5TH now serving primarily as a clearance channel. The website has been streamlined, removing sections on strategy, investors, and properties.
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Rent the Runway Appoints Paige Thomas as CEO
Rent the Runway has promoted Chief Commercial Officer Paige Thomas to CEO, effective Monday. Thomas, a Nordstrom alum, succeeds interim CEO Teri Bariquit, who becomes non-executive board chair. The announcement came as the company released Q2 results showing sales growth and narrowed losses. Total revenue rose nearly 21% year-over-year to $97.7 million, while active subscribers declined to 140,826. Gross margin expanded to 36.1%, and net loss shrank to $12.9 million. Thomas aims to accelerate the company's transformation rather than change direction.
Exemplar Luxury Group Appoints Gretchen Koback Pursel as Chief People Officer
Exemplar Luxury Group (ELG), the luxury collective comprising Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, announced the appointment of Gretchen Koback Pursel as Chief People Officer.
Fashion journalist Brooke Bobb joins Nordstrom
Brooke Bobb, formerly fashion news director at Harper’s Bazaar and a past Amazon Luxury Stores senior content editor, will join Nordstrom in August as vice president and fashion director reporting to Chief Merchant Jamie Nordstrom. She will set seasonal fashion direction, act as a fashion and trend media spokesperson, and collaborate with merchants and brands to bring product inspiration to life across stores, online and in marketing. The hire is part of Nordstrom’s efforts to expand its luxury and designer business and to grow its designer footprint following other recent merchandising hires.
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