Marc Metrick Exits Saks. Is Bankruptcy For The Retailer Next?
ICYMI! One major piece of news over the holiday break was the exit of longtime Saks Fifth Avenue executive Marc Metrick, who stepped down as chief executive on January 2nd. Puck’s Lauren Sherman was first to report he was stepping down.
“The last few years have been challenging, but I will look back with pride on everything the team accomplished,” Metrick wrote on his LinkedIn page. “This is a hard business, even when times are good, but it is when times are tough that you really learn about your colleagues. We’ve worked through the tragedy of 9/11, the uncertainty of the 2008 Financial Crisis, and, of course, the scary and devastating impact of the COVID pandemic. Through all of those moments, I know I’ve given the company my everything, and I also know, it gave me everything back.”
The departure came after the luxury retailer failed to make a loan payment at the end of the year. Insiders reveal the company is weighing bankruptcy as an option. A slump in demand for luxury goods and payment issues with vendors have hurt efforts to revive sales.
Richard Baker, the executive chairman of Saks Global, has taken on the role of chief executive, according to a company statement. Baker, a former real estate executive, is behind the creation of Saks Global, which includes Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. The company accumulated tremendous debt, largely due to Saks’s $2.7 billion acquisition of Neiman Marcus Group in 2024.
The company has 70 department stores in the US under its Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman brands, in addition to discount locations including Saks Off Fifth and Last Call. Saks is selling the building to their former Union Square, San Francisco location, which shut down last year. This year will likely include more offloading of their valuable real estate portfolio.
Dior x Saks Fifth Avenue (Francis Dzikowski/Courtesy)
Timmy and Kylie Forever!
Timothée Chalamet and Kylie Jenner made it official last night at the 31st annual Critics Choice Awards. The Marty Supreme actor took home the Best Actor award and thanked his now longtime girlfriend in his speech. He thanked Jenner for being his “partner of three years” and said, “I love you. I couldn’t do this without you. Thank you from the bottom of my heart.‘ The camera cut to Jenner mouthing “I love you” back. Awwww.
For those keeping track, Jenner wore vintage Versace and Chalamet wore a custom navy blue suit from Sarah Burton by Givenchy. Expect to see a lot more of these lovebirds in the next few months as this might be the year he takes home the Oscar.
Kylie Jenner and Timothée Chalamet (Phillip Faraone/Getty Images)
Gracie Abrams Very Chanel 2026
Gracie Abrams has been announced as the muse for Chanel’s Coco Crush jewelry. The singer has been working with the brand and was spotted at their recent New York City show and Haute Couture show in Paris. The new campaign will be revealed on January 13th.
Gracie Abrams
Equinox Launches Cheeky New Ad Campaign
What does it mean to believe in something in an increasingly fake world? Equinox is asking that very question. This year, they’ve created an intentionally fake, AI generated campaign in partnership with creative agency Angry Gods. Question Everything But Yourself features fake images of Pope Francis in heels, Justin Trudeau pole dancing, and more wacky images!
“Question Everything But Yourself reinforces Equinox’s long-standing commitment to authenticity, performance, and the power of human potential,” says Bindu Shah, CMO and Chief Digital Officer at Equinox. “It reminds audiences that while the world may be increasingly artificial – strength, effort, and self-belief are not. Equinox is where you can put that belief back into practice – a place to work on yourself, invest in yourself, and discover what becomes possible when you stop chasing the artificial and commit fully to what’s real.”
Will be curious to see if this new campaign causes feathers to ruffle!
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