It’s a classic New York story. Almost three decades after starting her career at Bergdorf Goodman as an intern, Tracy Margolies is back again, this time as the venerable retailer’s new president.
The move was revealed on Monday, when Saks Global said it finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion.
“Tracy’s deep expertise and track record of leading results-driven strategies will propel Bergdorf Goodman into the future while honoring its unique legacy. I am confident she is the right person to lead this storied business’ next chapter and look forward to what Bergdorf Goodman will accomplish under her leadership,” said Marc Metrick, CEO of Saks Global, in a statement. (Margolies succeeds Darcy Penick.)
Before her most recent stint at Saks, where she spent nearly a decade as chief merchandising officer, Margolies was SVP and GMM of beauty, contemporary 5F, footwear and handbags at Bergdorf. But it was her first chapter at the department store, years earlier, that really defined her path.