What: Franco Savastano is appointed president and CEO of Holt Renfrew, signaling a new strategic direction for Canada’s leading luxury retailer.

Why it is important: This leadership change positions Holt Renfrew to leverage Savastano’s expertise in luxury partnerships and transformation, aligning with recent market opportunities in Canada.

Holt Renfrew, Canada’s premier luxury retailer, has appointed Franco Savastano as its new president and CEO, marking a significant leadership transition. Savastano brings extensive experience from his previous roles at Globus and Jelmoli, where he was recognised for forging luxury brand partnerships and driving store renovations. His arrival follows the departure of Sebastian Picardo, who led Holt Renfrew through a period of strategic transformation, expanding the product range and digital capabilities while maintaining the brand’s luxury status. The company now operates six stores and generates approximately 700 million Canadian dollars annually, having consolidated its presence after the closures of Nordstrom and Saks Fifth Avenue in Canada. Holt Renfrew is well-positioned to capitalise on these market shifts, with Savastano expected to further integrate brick-and-mortar and online operations and deepen relationships with luxury brands. This transition comes amid broader changes in Canadian retail, including the bankruptcy of Hudson’s Bay, creating new opportunities for agile competitors.

IADS Notes: Franco Savastano’s appointment follows Sebastian Picardo’s transformative tenure, during which Holt Renfrew broadened its product range and digital capabilities (WWD, July 2025; WWD, January 2025). Savastano’s leadership at Globus, focused on luxury partnerships and a brand-driven strategy, is expected to shape Holt Renfrew’s next phase as it seizes opportunities created by the exits of Nordstrom and Saks Fifth Avenue (Blue Win, October 2024; WWD, February 2025). The ongoing restructuring of Canadian retail, highlighted by Hudson’s Bay’s bankruptcy, further positions Holt Renfrew to reinforce its leadership in the evolving market (WWD, March 2025).

Holt Renfrew names Franco Savastano President and CEO