Dive Brief:
- Neiman Marcus Group named a new supply chain head as the company plans to invest more than $90 million to overhaul operations and upgrade its systems and distribution centers, according to a Jan. 14 announcement.
- Amanda Martin will take on the newly created role of senior vice president, chief supply chain officer, and will oversee all aspects of the company's supply chain operations, including its "multi-year supply chain transformation."
- Martin was a regional logistics director with Target before joining Neiman Marcus as vice president of operations in 2017, according to LinkedIn. Neiman Marcus is also promoting Vijay Karthik to chief technology officer.
Dive Insight:
Neiman Marcus is honing in on supply chain efficiency after refinancing $1.1 billion in debt following its 2020 bankruptcy.
The company sold two Texas distribution facilities in March of last year with plans to reinvest the proceeds into adding capacity in key markets and speeding up deliveries and replenishment. The department store retailer also made new investments in its West Coast distribution center, which resulted "in an on average four to five-day speed-to-market improvement," according to a release from March 2020.
"The decisions we're making today to transform the business are purposeful and will ensure NMG's future success," said Geoffroy van Raemdonck, CEO of Neiman Marcus Group, at the time. "We have a loyal customer base, solid store footprint, and a strong online presence. We will continue to manage the business for continued growth and success."
Neiman Marcus is also streamlining its discounted offerings as it focuses on full-price goods and an e-commerce strategy to better reach customers. The company is investing $500 million into multiple tech and digital initiatives, including Stylyze, the cloud-based software-as-a-service startup.
"We are fortunate to have such strong talent at our company that we are able to develop and promote to lead all of the critical growth work we are executing," van Raemdonck said in a statement regarding the company's leadership changes and investment plans. "I am confident in these leaders' ability to drive results, the NMG Way, that ladder up to the substantial investments we are making in the business over the next three years."
Neiman Marcus isn't the only major retailer shaking up its C-suite as part of a broader digital commerce shift. J.C. Penney announced earlier this month that it hired Katie Mullen from Neiman Marcus Group to serve as its chief digital and transformation officer. The retailer also hired Sharmeelee Bala, formerly of Walmart and Gap, as its CIO.
