STEINBERG JOINS DFS
Byline: Kristin Young
LOS ANGELES — Michael Steinberg, the retired chairman and chief executive of Macy’s West, is not hanging up retail.
DFS Group Limited, the San Francisco-based international retailer, said Steinberg has joined the company’s 10-member board. Paris-based LVMH Moet Hennessy Louis Vuitton owns 61 percent of DFS Group.
“I felt this was something I’ve never done before,” Steinberg told WWD. “I’ve never been involved in the luxury business before.”
Steinberg is currently a consultant to Cincinnati-based Federated Department Stores and is on the board of Dallas watchmaker Fossil but added, “I’m very happily retired. I’ve got as much on my plate as I can handle.”
Myron E. Ullman 3rd, group managing director of LVMH and group chairman of DFS Group Limited, recruited Steinberg to head Macy’s West in 1993 when he was chief executive officer of R.H. Macy & Co. Inc., before Macy’s was acquired by Federated.
“[Steinberg] is a student of merchandise,” said Ullman. “He travels and his vast knowledge of suppliers [is such] that his perspective will be helpful.”
DFS Group Limited, counting $1.8 billion in annual sales, operates 150 duty-free shops in Asia, the Pacific Rim and the U.S.