Dive Brief:
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Paige Thomas has stepped down as CEO of SaksOff5th.com to pursue opportunities outside the company, a spokesperson for Saks Off 5th said by email Wednesday.
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Rob Brooks, formerly president of O5, the separate Saks Off 5th stores business, will replace her, effective immediately, per the email.
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Jennifer Drake, who previously was O5’s head of stores, has been promoted to replace Brooks at O5, the spokesperson said.
Dive Insight:
Recent changes at the top underscore a new phase at Saks Off 5th’s e-commerce company.
“We are confident in Brooks’ vision for the company and in the expertise of his leadership team, and we look forward to what lies ahead for the business,” a Saks Off 5th spokesperson said by email Wednesday.
The e-retailer earlier this week brought on former Untuckit executive Julie Mares to lead a data-driven e-commerce strategy focused on the customer journey, saying it’s in the midst of evolving its “digital capabilities to support its growing business, driving new initiatives while prioritizing the customer experience.”
SaksOff5th.com in January joined sibling e-retailers Saks.com and The Bay in instituting layoffs. The luxury off-pricer’s online and brick-and-mortar operations separated in 2021 with $200 million from a group of investors led by private equity firm Insight Partners. Full-line luxury department store Saks Fifth Avenue, also owned by HBC, had executed a similar move a few months before, and Canadian department store Hudson Bay’s online operation, now known as The Bay, followed weeks after.
At the time, the separations were described by proponents and critics alike as taking advantage of tech companies’ ability to attract investment and talent, though critics warned they might introduce operational challenges. In recent months, several tech-oriented and e-commerce companies, including Amazon, have drastically downsized their workforces and slashed expenses.
