Wabash Alum Fred Wilson Named President and CEO of Saks Fifth Avenue
November 18, 2003
Luxury retailer Saks Incorporated has announced that Fred Wilson has been named President and Chief Executive Officer of Saks Fifth Avenue Enterprises (SFAE). Wilson will assume his duties at SFAE by January 1, 2004. He will replace Christina Johnson, who resigned in October.
Wilson is a 1969 graduate of Wabash, who majored in English and was a member of the soccer club and Sigma Chi. He was appointed to the Wabash College Board of Trustees in 2001.
Wilson, 57, brings to SFAE a distinguished retail career spanning more than 30 years. He is currently Chairman, President, and Chief Executive Officer of the Donna Karan Company, a division of Louis Vuitton Moet Hennessy (LVMH), as well as Chairman and Chief Executive Officer of Eluxury.com, the LVMH e-tailing arm based in San Francisco.
Since joining LVMH in 1996 and prior to leading Donna Karan, Wilson held the posts of CEO for the LVMH Specialty Store Retail division and CEO of LVMH Fashion Group for the Americas. Prior to joining LVMH, he spent 17 years with Duty Free Stores (DFS), serving as President and Chief Merchant of the company. Wilson previously held management positions with both Federated Department Stores and Associated Dry Goods.
R. Brad Martin, Chairman and Chief Executive Officer of Saks Incorporated, commented, "Fred is a proven leader and experienced merchant. I have worked with Fred for several years in his various capacities at LVMH and have great respect for the substantial impact he has made on each business he has managed. He will bring a unique understanding and perspective of luxury retailing and manufacturing to our enterprise, and I am confident that SFAE will thrive under his direction and leadership."
Wilson will be based in New York City and will report to Steve Sadove, Vice Chairman of the Company.
Wilson noted, "I look forward to an exciting future with Saks and to working with the entire team to continue to build the Saks Fifth Avenue franchise into all that it can be. My past association with Brad Martin and Steve Sadove has been extremely positive, and I know our vision for the future is completely aligned."
Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 62 Saks Fifth Avenue stores and 54 Saks Off 5th stores. The Company also operates its Saks Department Store Group (SDSG) with 243 department stores under the names of Parisian, Proffitt's, McRae's, Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store and 16 Club Libby Lu specialty stores.