Jim Gold has landed online at Moda Operandi.
The former Neiman Marcus executive was named chief executive officer of the online luxury retailer on Tuesday, solidifying the company’s top management just as it brings in a new round of investment.
Gold, who had held an interim position at Moda, will join founder and chief brand officer Lauren Santo Domingo on the company’s board and the two will work closely together.
Moda expects to complete a “significant capital increase” this month that will “provide funding to ensure Moda is well positioned as the company moves forward with a renewed focus on its mission to be the leading curated luxury lifestyle platform for women.”
The money comes from both new investors, including G Squared, and existing investors New Enterprise Associates and Andrés Santo Domingo.
Lauren Santo Domingo said: “I am more confident than ever in the opportunity ahead, now that the company has steady leadership and is adequately capitalized by a group of new and existing partners who share this company’s vision and values. Moda is an independent, highly curated luxury lifestyle marketplace for women, and a platform for discovery. Connecting new and established designers with luxury consumers is what makes Moda special and it’s what I am most passionate about. Moda’s brand is strong. With Jim’s deep knowledge of luxury retail, and with a renewed strategic commitment to what makes Moda special, I am confident we will succeed.”
Gold added: “Moda has an incredibly talented team, the finest brand partners, global brand awareness, highly engaged luxury consumers and committed investors. I couldn’t be happier to be leading Moda with Lauren and help realize her original vision for this company. As the luxury market in the U.S. comes back, we are extremely well-positioned to serve the Moda customer in the months and years ahead and meet their pent-up demand for luxury goods and experiences.”
Moda was founded in 2010 and today sells more than 1,000 brands across fashion, fine jewelry and home in 125 countries.
In early 2019, Gold ended a 28-year run at Neiman Marcus, where he rose to be president and chief merchandising officer and had earlier served as CEO of the Bergdorf Goodman division.
At Neiman’s, he was credited with introducing and building distribution with luxury brands such as Tom Ford, Prada and Brunello Cucinelli, for giving Bergdorf a contemporary edge and for writing the original business plan for the Last Call off-price business.
Gold, 57, was seen as a dedicated leader at Neiman Marcus.
“I intentionally have not pursued any opportunities yet because I want to be able to give the company 100 percent until my very last day,” he told WWD as he departed. “Once I leave, I will take some time to be with my extremely supportive wife and family, and then turn my attention to exploring new opportunities.”
Clearly, that new opportunity has come.
As Moda’s CEO, he will be tasked with taking on a competitive field that includes Farfetch, which has made major inroads with its tech platform approach and its partnership with Alibaba and Compagnie Financière Richemont, as well as the newly public Mytheresa.
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