The Neiman Marcus Group has disclosed a round of new investments totaling $85 million and talent additions that include Paolo Riva as general manager of brand partnerships and merchandising for the Neiman Marcus brand and Bob Kupbens as executive vice president, chief product and technology officer.
The investments will go into supply chain innovation, specifically systems and fulfillment centers. NMG is implementing a new order management system, a new warehouse system and investments in the company’s Pinnacle Park distribution facility. These are multiyear improvements that begin immediately.
The Dallas-based luxury retailer emerged from bankruptcy in September 2020 with vastly reduced debt and new owners.
Riva was formerly the chief executive officer at Victoria Beckham and Diane von Furstenberg and also has held senior roles at Valentino, Ferragamo and Tory Burch. He will report to Lana Todorovich, Neiman Marcus president and chief merchandising officer.
Kupbens, who will be reporting to Neiman Marcus Group CEO Geoffroy van Raemdonck, is a former executive at Apple, eBay, Delta and ADT, where he held senior roles overseeing e-commerce, digital products and technology. He will partner with David Goubert, president and chief customer officer, Neiman Marcus; Darcy Penick, president, Bergdorf Goodman, and Todorovich to develop new digital products
“Neiman Marcus Group is a customer and brand relationship business, powered by a strong digital ecosystem,” van Raemdonck said. “Today we are announcing additional moves to accelerate our transformation reflecting our renewed financial flexibility and desire to invest in areas that are a source of unique competitive advantage and create shareholder value.”
“We have incredibly strong relationships with our brand partners and are evolving our collaboration from being a distribution channel for them to an increased value creation opportunity,” Todorovich said. “With Paolo’s leadership, we will ensure Neiman Marcus further enhances the value we provide to brand partners through maximizing their access to our luxury customers, providing additional customer and assortment insights, and aligning on the renovation plans for six of our stores within the next 18 months.”
Finally, to support one of the larger multibrand luxury online businesses and to fuel its growth, NMG is investing. “We are transforming NMG’s core operating capability to support our growth as the luxury destination of choice for customers,” said Willis Weirich, executive vice president, group operations and chief supply chain officer. “As the demand for luxury products continues to grow, so does our supply chain network and infrastructure. These investments ensure that NMG can quickly deliver the luxury products our customers want.”