Lana Todorovich appointed as chief merchandising officer at Neiman Marcus
As the American department store operator pushes forward with its transformation plans, Neiman Marcus Group has named Ralph Lauren alum Lana Todorovich as its new president and chief merchandising officer.
Taking over responsibility for the retailer’s merchandising offerings, Todorovich will play a key role in Neiman Marcus’ ongoing transformation, as the company moves towards a customer-centric model based around experiential retail. She will report to Neiman Marcus Group CEO Geoffroy van Raemdonck.
Todorovich most recently served as president for North America wholesale at Ralph Lauren, a company where she also held the role of president for womenswear and the Chaps brand.
Prior to this, she spent over three years as president of the women’s apparel group at Global Brands Group, a position in which she managed a diverse portfolio of brands and some $1 billion in sales.
The executive, who was educated at the University of Belgrade, the Fashion Institute of Technology and the Massachusetts Institute of Technology, has also previously worked at Perry Ellis International and Warnaco Inc. – Calvin Klein.
“Lana is a great addition to our leadership team. As we build the preeminent luxury customer platform to bring seamless, personal and magical experiences to our customers, Lana’s depth of experience will help elevate the Neiman Marcus brand for customers, brand partners and our associates,” said van Raemdonck. “Her outstanding leadership and partnership skills, as well as her proven track record, make her a perfect fit for our organization.”
“The Neiman Marcus brand has always been the pinnacle of luxury,” explained Todorovich. “What an exciting time to join this talented leadership team and be part of a transformation that will make us more relevant to our customers, deliver more value to our partners and provide wonderful growth opportunities for our associates.”
Neiman Marcus Group, which, along with its namesake flagship brand, also operates Bergdorf Goodman, Horchow and MyTheresa, has been struggling to hold its own against online competitors, and reported a loss of $31.2 million in the third quarter ended April 27, 2019.
Earlier this year, the company announced that it would be exploring its options for its profitable Munich-based fashion e-tailer MyTheresa. The unit has been the cause of some discontent among Neiman Marcus Group’s creditors, some of whom have claimed that it was transferred out of their reach at the end of last year.
As reported by Bloomberg on Tuesday, Neiman Marcus Group has also announced that its chief financial officer, Adam Orvos, will be stepping down from his role in October, after just under a year and a half working at the retail group.
The company is yet to name a successor.
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