Macy’s-owned Bloomingdale’s appoints Olivier Bron as its new CEO

Macy’s announced on Tuesday that it has chosen Olivier Bron, an international retail executive, as the new CEO of its upscale department store, Bloomingdale’s.

Bron, a 36-year veteran of Bloomingdale’s, will succeed Tony Spring who became CEO-elect of Macy’s earlier this year. Spring is set to take over as CEO from Jeff Gennette, who is retiring in February.

Bron will assume his new role in early November.

The appointment of Bron brings an outside perspective and international expertise to Bloomingdale’s. Bron, who is French, most recently served as the CEO of Central and Robinson department stores in Thailand. He previously held leadership positions at Galeries Lafayette in Paris and worked as a retail consultant at Bain & Company.

Macy’s choice of a retail executive from another company and country suggests potential global ambitions for Bloomingdale’s. While the chain currently has a limited international presence, with stores in Dubai and Kuwait, its flagship store in New York City attracts tourists from around the world.

Bloomingdale’s is also a key part of Macy’s strategy to expand its luxury business.

In a statement, Tony Spring described Olivier Bron as an “authentic and charismatic leader” who understands the Bloomingdale’s brand and is ready to drive the company forward. Spring stated that Bron’s extensive international retail experience and knowledge of the luxury market will be invaluable for future growth.

Bron expressed his admiration for the Bloomingdale’s brand and his plans to build on its success through new store formats and digital expansion.

This is the first time since 1991 that Macy’s has selected an external candidate as CEO of Bloomingdale’s. Michael Gould, the previous CEO, was also an outside hire.

In addition to its 34 stores across the U.S., Bloomingdale’s has recently introduced smaller stores called Bloomie’s. It currently has two locations and plans to open one in Seattle, a new market for Bloomingdale’s and in proximity to rival Nordstrom.

Bloomingdale’s also operates 20 outlet stores nationwide.

While some of Macy’s legacy department stores have faced challenges, Bloomingdale’s has been a growth driver and a reliable source of revenue. The retailer’s focus on designer brands and higher-priced items attracts a more affluent customer base.

However, in the most recent quarter, Bloomingdale’s experienced a decline in sales due to budget constraints and shifting consumer spending habits. Handbags, men’s apparel, and dresses were among the categories that saw reduced demand.

Macy’s, which includes Bluemercury beauty stores, continues to rely heavily on its namesake stores as the primary revenue generator.

As of late July, Bloomingdale’s had 4 million active customers in the past year, compared to Macy’s 41.5 million and Bluemercury’s approximately 736,000 active customers.