Lanessa Elrod Named President of Bergdorf Goodman

Lanessa Elrod will take over as president of Bergdorf Goodman on November 2, Exemplar Luxury Group announced, marking her return to a retailer where she once held merchandising roles early in her career. Elrod steps into the post as Bergdorf Goodman, the Manhattan landmark, celebrates its 125th anniversary and its parent company, formerly Saks Global, emerges from a period of financial restructuring and rebranding.

Elrod most recently served as president and CEO of Louis Vuitton Americas, where she managed the brand’s business across the US, Canada, and Latin America. Her appointment follows a year of change for Exemplar Luxury Group, which also owns Saks Fifth Avenue and Neiman Marcus. The group exited bankruptcy in June, having reduced its debt by about 75% to under $1 billion, and is now focused on revitalizing its banners.

Her return to Bergdorf Goodman is described by Elrod as “a deeply special full-circle moment.” She began her career as a ready-to-wear buyer at Neiman Marcus in 1997, later moving to Saks Fifth Avenue and Bergdorf Goodman before spending 14 years at Louis Vuitton. At Louis Vuitton Americas, Elrod led substantial business growth and was recognized for championing innovation and strengthening relationships with employees and customers.

Tracy Margolies, who has led Bergdorf Goodman for the past two years and spent decades in merchandising at the retailer and Saks Fifth Avenue, will become executive advisor at Exemplar Luxury Group, reporting to CEO Geoffroy van Raemdonck. Margolies is expected to draw on her institutional knowledge to support the company’s ongoing transformation.

Bergdorf Goodman building with Van Cleef & Arpels on 5th Avenue — Photo: Ingfbruno / Wikimedia Commons, CC BY-SA 3.0 (cropped)

Geoffroy van Raemdonck called Bergdorf Goodman “a crown jewel in the industry” and said Elrod’s appointment “marks an important step in advancing our strategic priorities and further strengthening Bergdorf’s position as the pinnacle of luxury.” He emphasized the store’s reputation for identifying and nurturing designer talent and its ability to anticipate and exceed customer preferences.

Elrod said that returning as president is especially meaningful to her because Bergdorf Goodman played a defining role in her career. She said she looks forward to working with the team and brand partners to build on the store’s legacy, deepen customer relationships, and bring its spirit of discovery to life in new ways.

The company said Elrod’s remit will focus on developing Bergdorf Goodman’s customer experience while preserving its distinctive merchandising perspective. The retailer, founded in 1901, is aiming to connect its established identity with a new generation of luxury shoppers through curation, personal service, and discovery.

Elrod’s experience spans all three of Exemplar Luxury Group’s department store banners. Before her time at Louis Vuitton, she held buying and merchandising roles at Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman. That gave her a broad view of the group’s operations and customer base.

The transition comes after a period of instability for the group, which was previously known as Saks Global. Last year, the company faced challenges following Saks’ acquisition of Neiman Marcus for $2.7 billion, leading to disputes with vendors over payment terms. While Saks Fifth Avenue and Neiman Marcus dealt with these issues, Bergdorf Goodman remained relatively stable, continuing to operate from its Upper East Side location. Michael Appel, president of Appel Associates, said that if the company ever needed to sell an asset, Bergdorf Goodman could be sold quickly.

The retailer wasn’t entirely untouched by the broader upheaval. Chief merchant Yumi Shin left for Nordstrom after Saks Global dropped its attempt to prevent her departure. Last year, analysts including Mary Ross Gilbert of Bloomberg Intelligence believed Saks Global was seeking a buyer for a 49% stake in Bergdorf Goodman, which would have allowed the company to keep a majority position and integrate Bergdorf’s results into its balance sheet.

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