BUSINESS

Neiman Marcus Names Former Williams Sonoma Exec as Its New President

Written by buzzonlineadmin

Neiman Marcus Group announced today that its retail director Ryan Ross would join the company as president effective August. 15.

Ross was the most recent director of Williams Sonoma. He was in charge of implementing the integration of strategies for a channel, increasing customer satisfaction and improving the value of the company’s brands. Before that, he worked as the EVP of marketing and digital for HSN when QVC acquired the company. He also held senior posts in Harrods, Pottery Barn and Gap Inc.

As the president at Neiman Marcus, Ross will report directly to NMG CEO Geoffrey van R Raemdonck. Ross is charged with fostering “acceleration by strengthening the brand and customer experience,” according to the company.

“Ryan is a values-driven leader with a proven track record of achieving rapid growth and optimizing customer-centric experiences,” van Raemdonck said in a statement. “This new role represents the next step in our ‘Revolutionizing Luxury Experiences’ strategy. We’re confident that an esteemed omnichannel retail leader like Ryan further positions Neiman Marcus for sustainable growth.”

NMG, the department-store giant, has also announced new changes in its leadership. Chief Customer Officer David Goubert, who has been at NMG for the last three years, has decided to pursue his interests, including his enthusiasm for businesses that have a social impact.

The company also announced it was Lana Todorovich, who serves as the president and chief merchandising manager for Neiman Marcus, who is set to stay in her current post in charge of the store’s purchasing and merchandising departments, as well as designing retail-tainment-related experiences and selections. She will work under Ross.

The month of June was when NMG released a fiscal update on its financial performance in June, revealing that it had similar sales growth of more than 30% over the same period in the previous year, beating the pre-COVID benchmarks. The company also reported similar GMV growth (or total sales value) over a period in the 20 to 30 per cent range compared to pre-pandemic 2018. The strong full-price sales also contributed to a substantial margin growth of more than 300 basis points.

In the meantime, van Raemdonck said in an announcement, “Our performance is a reflection of our continued significant development … and a strong U.S. luxury customer. We continue to operate in an ever-changing marketplace. Thanks to our unique combined luxury retailer model, we believe we’re in a good position for the future. We also have a healthy balance sheet and strong relationship with our customers and luxury brands.”

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