Tracy Margolies is coming back to Saks Fifth Avenue as the department store’s new chief merchant. The executive, who has been a well-known footwear force for many years, will assume her new role on May 11.
Margolies was most recently SVP and GMM of footwear, handbags, beauty and Contemporary 5F at Bergdorf Goodman. She held that post for about two and a half years, after serving as Saks’ VP and DMM of women’s footwear for seven years.
“Tracy knows the Saks culture, has strong vendor partnerships and brings a built-in passion for the Saks brand,” said Marc Metrick, the new president of Saks, who made his own return to the retailer just two weeks ago when Marigay McKee exited the company. “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.”
During her previous stint at Saks, now a division of Hudson’s Bay Co., Margolies helped spearhead the ambitious rollout of 10022-SHOE, the Saks shoe salon with its own Zip code. She also worked closely with former chief merchant Ron Frasch.
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There’s no doubt that footwear and accessories will be a priority for Margolies in her new post. The categories continue to be big opportunities for department stores, which have been battling it out for market share in New York and across the hot U.S. market.
“I’m thrilled to return to Saks Fifth Avenue, especially at such a pivotal time for the company,” Margolies said in a statement. “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.”