Saks, the luxury e-commerce platform, has appointed Cara Chacon as its first senior vice president for ESG.
Chacon has more than two decades of experience in corporate social responsibility and environmental sustainability, including more than 10 years with Patagonia Inc., where she served as vice president, social and environmental responsibility.
“Bolstering our ESG efforts will enable us to make an even more positive impact on our industry and communities,” Saks chief executive officer Marc Metrick said in a statement Monday. “We are committed to developing a cohesive, thoughtful approach to strengthening our environmental, social and governance efforts across all functions of our business. With Cara’s deep experience in corporate responsibility and sustainability, I am confident that she is the right leader to spearhead these pivotal efforts.”
At Patagonia, Chacon led an international team setting strategy and implementing global human rights and environmental sustainability efforts, including climate commitments, material and supplier traceability, and reporting. She also held several board directorship and advisory roles with sustainability nonprofits impacting the apparel industry.
Earlier, she served as global director, training and education at STR Responsible Sourcing, a sustainability advisory firm known as UL-Responsible Sourcing. At STR, she led a team dedicated to the development and execution of corporate responsibility programs and training across different industries.
Chacon said in a statement: “Saks has a strong reputation for using its platform to champion causes that matter to its customers, employees and communities. Within the fashion industry, there remains a greater opportunity for Saks to play a role in making a positive environmental and social impact.”
In March 2021, the Hudson’s Bay Co. split the Saks Fifth Avenue store fleet and saksfifthavenue.com into separate companies. Saks Fifth Avenue’s e-commerce business is now known as simply Saks. The 41-store Saks Fifth Avenue fleet is known as SFA.
Insight Partners, a venture capital and private equity firm, made a $500 million minority equity investment in the Saks e-commerce business, valuing it at $2 billion. The investment is helping Saks grow its offerings and improve its services and shopping experience, as well as add talent to the organization. The Saks brick-and-mortar stores company remains wholly owned by HBC. It’s possible that one day HBC decides to take Saks public, though currently, HBC is among the handful of companies bidding to acquire Kohl’s Corp.
HBC also split its Hudson’s Bay and Saks Off 5th brands into separate brick-and-mortar stores and e-commerce businesses last year.