Paolo Riva, chief buying officer at the Exemplar Luxury Group, which operates Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, has decided to leave the company on Sept. 18 for personal reasons, WWD has learned.
A spokesperson told WWD that a search for a successor will be underway shortly.
Riva has been a key player in the recovery of Exemplar, the former Saks Global, through its bankruptcy, which lasted from January to June this year, and has been instrumental in rebuilding relationships with vendors. In addition, Riva had a leading role in integrating the buying teams of both Neiman’s and Saks following Saks Fifth Avenue’s acquisition of the Neiman Marcus Group in December 2024.
At Exemplar, he has been leading the centralized Saks and Neiman’s buying and merchandising team, but has not been involved with Bergdorf Goodman, which has a separate buying and merchandising team.
Riva joined Neiman Marcus Group in 2021 as general manager of brand partnerships and merchandising at Neiman Marcus. Right after the acquisition of the Neiman Marcus Group by Saks Global, Riva was appointed chief brand partnerships and buying officer at Saks Global, charged with combining the Neiman’s and Saks buying teams.
Last January, Riva’s role evolved to chief buying officer for Saks Global, leading all buying and merchandising activities for Neiman Marcus and Saks Fifth Avenue. Saks Global was rebranded into the Exemplar Luxury Group when the company emerged from bankruptcy in June.
Riva has been reporting to Darcy Penick, Exemplar’s president and chief commercial officer.
Riva’s planned departure from the Exemplar Luxury Group has not triggered any other management changes.
Geoffroy van Raemdonck, chief executive officer of Exemplar, as well as Penick and Lana Todorovich, chief global brand partnerships officer, will continue to serve as points of contact for brands.
“Paolo has played a pivotal role in shaping our expertly curated product assortments across Neiman Marcus and Saks Fifth Avenue,” Penick said in a statement. “Through his deep relationships with our brand partners and understanding of the differentiated customer base of each banner, Paolo has established a strong foundation for our merchandising strategy. He has successfully led his organization through significant change and has been an integral part of the company’s transformation.
“We are grateful for Paolo’s leadership, expertise and unwavering commitment over the past five years,” Penick added. “His contributions have left a lasting mark on our teams and our business. On behalf of the entire Exemplar Luxury management team, we thank him for all of his contributions, and wish him the best.”
A spokesperson, through a statement, told WWD on Tuesday: “We support Paolo’s personal decision and are appreciative of the significant role he has taken in our ongoing efforts to strengthen relationships with our brand partners, where his ability to build trust and inspire confidence has been instrumental. We intend to identify and appoint a successor to this role at a later date. We are working together with Paolo ahead of his Sept. 18 departure to ensure our brand partners, colleagues and business are fully supported.
“We are grateful to Paolo for his leadership of the buying organization. His deep relationships with our brand partners and his expert leadership of our buying teams have been instrumental in shaping the strong assortment strategy we see today across Neiman Marcus and Saks Fifth Avenue. We support Paolo’s decision and wish him the best. The Exemplar Luxury management team will work together to ensure a smooth transition for our brand partners and colleagues.”
