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Saks’ CEO Baker to exit luxury retailer ahead of bankruptcy

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January 14, 2026

Saks Global Enterprises’ chief executive officer Richard Baker is departing less than two weeks after taking over the top job as the beleaguered luxury conglomerate he created prepares to restructure under bankruptcy court protection.  

Bloomberg

Baker, who has been CEO and also executive chairman of the department store chain, had been finalizing his exit over the past few days, according to people familiar with the situation who asked not to be identified because the move hasn’t been announced yet. 

Geoffroy van Raemdonck, currently a board member of Moncler SpA, is currently negotiating for a role at the company, according to people familiar with the matter. 

Founded more than 150 years ago, Saks is close to filing for Chapter 11 bankruptcy protection, according to the people, to address mounting losses and a substantial debt load. 

Saks, Baker and van Raemdonck didn’t immediately respond to requests for comment. 

Van Raemdonck was CEO of Neiman Marcus Group from 2018 until 2024. He saw the luxury retailer through a pandemic-era bankruptcy and then its emergence and subsequent recovery. He stepped down when Saks acquired it. 

Saks’ debt has weighed on the company, which operates its flagship Saks Fifth Avenue stores as well as Bergdorf Goodman and Neiman Marcus. 

Baker, a longtime real estate investor, was announced as the company’s new CEO on Jan. 2, succeeding Marc Metrick.

Baker was chairman of Hudson’s Bay Co. when it bought Saks Fifth Avenue in 2013 and was the key architect of Saks’ acquisition of rival Neiman Marcus Group for $2.65 billion in 2024, creating Saks Global.
 



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Dice Kayek donates iconic designs to major international museums

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January 14, 2026

Dice Kayek has announced the donation of several iconic pieces from its archive to major international museums, including the Denver Art Museum, The Museum at FIT in New York, the Palais Galliera, the Musée de la Mode de la Ville de Paris, and the Musée des Arts décoratifs. 

Dice Kayek donates iconic designs to major international museums. – Dice Kayek

Curatorial teams from the Denver Art Museum, The Museum at FIT, the Palais Galliera, and the Musée des Arts décoratifs were invited to select works directly from the Dice Kayek archive, with each institution choosing pieces to support upcoming exhibitions and strengthen their permanent collections. 

The donations build on Dice Kayek’s longstanding recognition by museum institutions, following previous acquisitions by London’s Victoria and Albert Museum and the Los Angeles County Museum of Art.

Launched by sisters Ece and Ayse Ege, the Dice Kayek brand has forged a reputation over the past two decades for its carefully crafted universe. Characteristic styles and techniques include handmade embroidery, the art of folding to create volume through construction, and a unique approach to contrasting fabrics. 

“These are one-of-a-kind pieces, there are no others in the world, there aren’t even any patterns to reproduce them,” said Ece.

“When I create a dress from a dream, you really have to think, calculate and examine to turn the beauty of the impossible into reality. It’s not just textile, clothing, it’s something else, an art of transformation.” It’s very important for us to pass on these gifts,” added Ece.

“It’s our way of bearing witness to the whole creative process, so that future generations can discover these unique pieces.”

Notably, the Denver Art Museum selected four sculptural silhouettes from the acclaimed “Istanbul Contrast” collection that have been exhibited internationally and were notably shown at the Victoria and Albert Museum in 2013.

The Museum at FIT chose a look from the Spring-Summer 2015 collection, while the Palais Galliera selected six handmade silhouettes, including dresses, a coat dress, and a suit with matching shoes, drawn in part from “Istanbul Contrast,”. The Musée des Arts décoratifs also chose six silhouettes, including Turkish Delight I and Istanbul by Night II.

Copyright © 2026 FashionNetwork.com All rights reserved.



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Drake’s October’s Very Own inks capital investment from A.R.I.

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January 14, 2026

October’s Very Own (OVO) on Tuesday announced it has received capital investment from firm Applied Real Intelligence (A.R.I.), as the Canadian streetwear brand looks to increase its reach globally.

OVO

The U.S.-based investment firm highlighted the “demand for culturally authentic brands right now” adding that the “timing couldn’t be better for OVO,” a lifestyle brand founded by Aubrey “Drake” Graham, Oliver El-Khatib, and Noah “40” Shebib, in Toronto, in 2008.

“Recently, Human Made, the streetwear brand partially owned by Pharrell Williams, went public at nearly $500 million and was reportedly 60 times oversubscribed,” said Dr. Zack Ellison, A.R.I.’s founder and managing general partner.

“It’s a clear signal that investors see tremendous value in brands that blend creativity, community, and cultural credibility. OVO is uniquely positioned within that movement, combining global influence across fashion, music, sports, and a cultural and lifestyle presence that sets it apart.”

Since its inception nearly 20 years ago, OVO has evolved from a music collective into a fully-fledged lifestyle company with retail stores across Toronto, Mississauga, Ottawa, Calgary, and British Columbia, along with international locations in Los Angeles, New York, Las Vegas, and London.

Under the leadership of CEO Derek “Drex” Jancar, OVO will continue to scale its global e-commerce business, expand partnerships, and grow its physical retail footprint, with the help of the new A.R.I. funds, according to a press release.

“OVO represents the next generation of Canadian entrepreneurship,” said Dr. Ellison. “Drake, Oliver, and 40 created something culturally unparalleled, and Drex is now scaling that vision with remarkable discipline and strategic clarity. It’s a rare combination, and one that A.R.I. is proud to support.”

Financial terms of the investment were not disclosed.

Copyright © 2026 FashionNetwork.com All rights reserved.



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Van Cleef & Arpels opens new boutique in New Jersey

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January 14, 2026

Van Cleef & Arpels has unveiled a new boutique at The Mall in Short Hills, New Jersey, expanding the Maison’s retail presence in the United States.

Van Cleef & Arpels opens new boutique in Short Hills, New Jersey. – Van Cleef & Arpels

“We are overjoyed to open our new boutique in Short Hills, offering our cherished clients a new space to discover the magic and artistry of Van Cleef & Arpels,” said Helen King, president and CEO of Van Cleef & Arpels Americas. “This boutique embodies our dedication to exceptional craftsmanship and timeless beauty, providing an immersive journey into our universe.”

Spanning more than 3,000 square feet, the boutique houses the Maison’s High Jewelry, fine jewelry, and watchmaking collections. The interior is anchored by a Veronese two-tier chandelier set beneath a shimmering gold-leaf ceiling, complemented by hand-painted wallpaper, elegant dome fixtures, and a grand central display.

Additional design elements include full-height wallpapers, mirror panels, curated libraries, Veronese sconces, refined lighting, and subtle Van Cleef & Arpels iconography, all set atop rich black hardwood flooring.

Six sales desks are distributed throughout the space, with four positioned at the front and framed by bespoke libraries. Two discreet sales rooms are tucked toward the rear, while a private sitting salon is revealed through a hidden library.

At the back of the boutique, the Poetic Salon provides an intimate setting to encourage discovery and conversation. Lastly, a newly introduced powder room concept adds a contemporary touch, featuring fluted wall tiles and a freestanding Art Deco–inspired vanity.

Meanwhile, the boutique’s exterior is characterized by a distinctive gradient black to gold diamond metal façade, complemented by four showcase windows and decorative metal screens framing the entrance.

Copyright © 2026 FashionNetwork.com All rights reserved.



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