Leaders from the Council of Fashion Designers of America, British Fashion Council, Camera Nazionale della Moda Italiana, and Fédération de la Haute Couture et de la Mode sent a joint letter to Saks Global CEO Geoffroy van Raemdonck on March 16. They called for fair treatment of young and independent brands in the company's restructuring plans. The plea follows Saks' bankruptcy filing and concerns over unpaid deliveries from small designers.
On March 16, the heads of four prominent fashion councils—Steven Kolb of the CFDA, Laura Weir of the BFC, Carlo Capasa of the CNMI, and Pascal Morand of the FHCM—wrote to Saks Global's CEO. Their letter addresses the restructuring process's effects on emerging brands, noting that some independent designers have been informed they might not receive payment for goods already delivered. 'We understand that restructuring processes are complex and often involve tough decisions,' the leaders stated. They emphasized that independent designers lack the financial reserves of larger conglomerates, and withheld payments could threaten payroll, production, and company stability. The councils highlighted these brands' role in fostering creativity, innovation, and cultural relevance in fashion, warning that their sustainability is vital for the industry's future. 'Ensuring fair treatment now would send a strong message about Saks Global’s dedication to the creative community,' the letter concluded, according to CFDA's Kolb, who described the effort as a show of unity among fashion capitals. This comes shortly after Saks secured bondholder approval for its five-year business plan and access to $300 million from $1.75 billion in committed capital. The company is finalizing its restructuring for filing with the US Bankruptcy Court for the Southern District of Texas. Saks, which filed for bankruptcy in January, had earlier resumed shipping from nearly 600 brands and reached agreements with over 175. A Saks spokesperson responded: 'We have a great respect for [the councils] and the work they do... We are focused on the steady progress we are making in rebuilding trust with our established and emerging brand partners.' Independent designers have voiced concerns, with one telling Vogue Business that non-payment could 'tank my business,' unlike larger brands such as Chanel.
