Neiman Marcus places tech, digital products, analytics under new exec
Neiman Marcus Group is focusing on digital with a new exec and an $85 million supply chain investment. It's also planning some store remodels.
The luxury retailer appointed Bob Kupbens as executive VP, chief product and technology officer, effective Feb. 1, reporting to CEO Geoffroy van Raemdonck. Kupbens previously held multiple senior roles overseeing e-commerce, digital products and technology at Apple, eBay, Delta, and ADT. Katie Mullen, who has held the title of chief digital officer at Neiman Marcus since July 2020, will leave this summer. She has been with the company since 2018.
Kupbens will partner with David Goubert, president and chief customer officer, Neiman Marcus; Darcy Penick, president, Bergdorf Goodman; and Lana Todorovich, president and chief merchandising officer, Neiman Marcus, to develop new digital products and capabilities that enhance store, online, and omnichannel experiences at both brands. As part of the strategy, the company plans to remodel six stores during the next 18 months.
Kupbens will also accelerate the ramp-up of Neiman's advanced analytics capabilities, scale personalization of customer experience to a broader set of customers, and curate personalized assortments. The company is additionally creating a new GM, brand partnerships and merchandising role in the Neiman Marcus brand, led by Paolo Riva and reporting to Todorovich. Riva last served as CEO at Victoria Beckham and has held supporting senior global roles at Valentino, Diane von Furstenberg, Ferragamo, and Tory Burch.
In addition, Neiman is investing $85 million gross in supply chain innovation, specifically systems and fulfillment centers. These include a new order management system, a new warehouse system, and investments in the company's Pinnacle Park distribution facility. The projects are multi-year improvements that will begin immediately.
"Neiman Marcus Group is a customer and brand relationship business, powered by a strong digital ecosystem," said Geoffroy van Raemdonck. "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."
Neiman Marcus exited from bankruptcy in September 2020, with 38 full-line stores, five Last Call outlet stores and an e-commerce site. It also eliminated more than $4 billion of its roughly $5.5 billion existing debt and more than $200 million of cash interest expense annually.