Saks Global CEO Geoffroy van Raemdonck is facing heat over his cozy ties with Moncler, where he sits on the board despite the fact that the Italian fashion label is a key creditor to the bankrupt retailer, The Post has learned.
Van Raemdonck’s relationship with Moncler, which is owed $6.3 million in the bankruptcy, is “a clear conflict of interest” according to a filing on EthicsPoint – a platform companies use to receive anonymous tips and complaints – that was shared with The Post.
“When vendors are paid off during bankruptcy and Moncler is paid a higher percentage than a different vendor would it be due to the presence of Geoffroy?”
Other problematic scenarios could play out as well, according to the author of the Feb. 12 complaint who wasn’t named.
“If the [Moncler] quilted fleece down bomber jacket is selling faster than expected, will Saks Global be favored to receive the next shipment due to his position?” the complaint asked.
“What happens if Nordstrom merchants feel Saks Global was given preferential treatment by Moncler?” the unnamed author wrote. “All of these could easily happen regardless of intentions. That’s why he should no longer be on the board.”
The report likewise points a finger at Moncler CEO Remo Ruffini, claiming, “By keeping Geoffroy on the board, Mr. Ruffini has decided this is not a conflict of interest.”
In a March 5 response to the EthicsPoint complaint, Moncler said it is “conducting the appropriate regulatory corporate governance and assessment required in circumstances of this nature.
“We would like to reassure you that we were already addressing the issue you raised with the aim of preventing and managing any potential conflict of interest,” Moncler added.
Milan-based Moncler, where van Raemdonck has been a director since April 2025, didn’t respond to The Post’s requests for further comment.
Asked for comment on Wednesday, a Saks Global spokesperson said the retailer reviewed van Raemdonck’s board affiliations before it hired him in January.
“Protocols are in place under our longstanding conflict of interest policy, which have been discussed with Moncler, and a direct line of communication has been established between the companies to ensure continued compliance,” the Saks spokesperson said.
Van Raemdonck’s obligations to both Saks and Moncler “put him in an awkward position,” said Charles Elson, who is founding director of the Weinberg Center for Corporate Governance at the University of Delaware.
“As head of a company that owes [Moncler] money he is stuck on both sides,” Elson told The Post. “He’s obligated to both the bankrupt company and to the company of which he’s a director.”
Likewise, for Moncler, “It’s not a good look,” Elson added. “They don’t want to look like they are edging out the other creditors.”
Moncler is “trying to figure out whether it’s embarrassing to them,” Elson added. “The last thing they want is to be embarrassed.”
Saks Global’s employment agreement with van Raemdonck calls for the court to approve his extra curricular duties at Moncler, according to a filing last week. The court is expected to rule on the agreement in April.
“Would it better that he wasn’t on the board, absolutely,” added Elson. “But it’s a little better because of the judge’s oversight.”
Van Raemdonck joined the Moncler board as an independent director last spring following his exit as the CEO of Neiman Marcus, which was acquired by Saks Global in an ill-fated $2.7 billion deal. He’d led Neiman Marcus from 2018 to 2024, steering the luxury retailer through its 2020 bankruptcy.
Saks Global filed for bankruptcy protection on Jan. 14.
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