Bergdorf Goodman Emerges From 2 Bankruptcies, Betting on White-Glove Service Revival
Updated
Updated · The New York Times · Oct 7
Bergdorf Goodman Emerges From 2 Bankruptcies, Betting on White-Glove Service Revival
3 articles · Updated · The New York Times · Oct 7
Summary
June marked Bergdorf Goodman’s exit from bankruptcy alongside Saks Fifth Avenue and Neiman Marcus under the new Exemplar Luxury Group, ending years of uncertainty over whether the storied store would be sold off.
125-year-old Bergdorf is trying to restore the highly personalized service that once defined its Fifth Avenue flagship after cost-cutting, shifting shopping habits and weaker store traffic eroded luxury standards.
Top sales associates are central to that plan, with Exemplar CEO Geoffroy van Raemdonck casting staff across the business as stewards of a brand meant to handle customers “with white gloves.”
The turnaround will test whether a landmark retailer known for $1,500 boots, $2,600 bags and even a $24,000 Prada jacket can reclaim its old allure in a changed luxury market.