New York—After tapping an outsider, Marigay McKee of Harrods, Saks Fifth Avenue announced today that it is bringing back a former insider, Tracy Margolies as Chief Merchant effective May 11.
An accomplished retail executive, Margolies will drive the strategic direction and performance of all buying activities for Saks. She will report to Marc Metrick, president.
‘Elevate the Brand’
“Tracy knows the Saks culture, has strong vendor partnerships and brings a built-in passion for the Saks brand. When the Chief Merchant position opened up at Saks I immediately thought of Tracy, and when I assumed my role as President she was my first call. I’m confident that she will help us elevate the brand and continue to drive our strategy forward,” said Metrick who was only recently named president after McKee resigned.
A widely respected merchant with deep experience in luxury retailing, Margolies rejoins Saks Fifth Avenue after serving as SVP, GMM, Beauty, Contemporary 5F, Footwear and Handbags at Bergdorf Goodman.
“I’m thrilled to return to Saks Fifth Avenue, especially at such a pivotal time for the Company,” Margolies said. “I have a strong appreciation for the Saks brand and the opportunities that lie ahead. I am excited to partner with Marc again, and work with the team to shape the future for Saks.”
Previously, Margolies spent seven years at Saks as VP, DMM, Women’s Footwear where she worked closely with Metrick. She was instrumental in launching 10022-SHOE, widely viewed as one of the most innovative and successful merchandising initiatives in luxury retail.