Saks news and archive

Against all odds: Luxury records an unexpected performance at the end of the year

While the luxury sector has experienced some real turbulence this year, a study is shaking up the forecasts. According to the latest Saks Luxury Pulse survey, 82 percent of affluent consumers plan to increase their spending this holiday season. This almost unexpected burst of optimism offers new insights into the outlook for the sector. But what...

Business|fashion Featured

Authentic Brands Group partners with Saks Global on luxury venture

Authentic Brands Group, the global brand development, marketing, and entertainment platform, is launching a joint venture with Saks Global to grow its luxury and accessible luxury brands, building on its successful collaboration with Barneys New York. The new venture, called Authentic Luxury Group, will leverage the combined capabilities of...

People

Following merger announcement, Saks COO steps down for helm position at Voomi

Days after the announcement plans to merge the Neiman Marcus and Saks businesses, the latter has already waved goodbye to one of its top executives. RJ Cilley, the former chief operating officer of Saks Fifth Avenue, has stepped down from the luxury retailer to become chief executive officer for HVAC supplier Voomi Supply. His departure comes...

Business

Hudson’s Bay officially confirms Neiman Marcus takeover

Following a slew of media reports on the matter, Hudson’s Bay Company (HBC) has officially confirmed its acquisition of Neiman Marcus Group (NMG), the parent company of Neiman Marcus and Bergdorf Goodman. The long-anticipated transaction amounted to 2.56 billion dollars, and will result in the establishment of Saks Global, a combined portfolio...

BusinessFeatured

Saks parent company acquires Neiman Marcus, Amazon to be investor

In what has been a long-winded back-and-forth that has spanned multiple years, it is now believed that department store powerhouses Saks Fifth Avenue and Neiman Marcus Group are finally set to merge. According to multiple media reports, Saks parent company Hudson’s Bay Co. (HBC) has secured an agreement to purchase Neiman Marcus Group for a...

Fashion Featured

Saks names ‘The New Wave’ 2024 designers

American retailer Saks has named British designer Nicholas Daley among the ‘Class of 2024’ participants for its designer accelerator programme designed to support independent brands in accelerating their growth within the fashion and retail industries. The ‘New Wave at Saks’ accelerator, presented by Mastercard, is now in its fourth year and has...

Business

Saks expands ambassador programme with new celebrity members

Luxury e-commerce platform Saks has announced the expansion of its brand ambassador programme, Saks Social Club, with the addition of new celebrity members, including pop culture figure Paris Hilton, supermodel Chanel Iman and basketball player Shareef O’Neal. The initiative, which already comprises influential men and women from varying...

Retail

Vision Express to come to Saks Off 5th

Opticians and eyewear retailer Vision Express is set to be introduced to a select number of Saks Off 5th stores over the next few months in what also comes as an expansion to the luxury chain’s offering. Several of Saks Off 5th stores are expected to add a Vision Express space, including its locations in Westbury, Elizabeth, Bridgewater, West...

Business

Story3 invests in luxury ecommerce platform Saks.com

Story3 Capital Partners has announced a significant new investment in luxury ecommerce destinations Saks.com. Commenting on funding in Saks, Peter Comisar, founder and managing partner of Story3 and former Goldman Sachs Partner, stated, "We believe we are at the early innings of powerful global growth and penetration for luxury brands. As new...

Fashion

Thom Browne and Saks partner on capsule collection

US designer Thom Browne and luxury department store giant Saks have revealed a collaborative capsule collection available exclusively through the retailer’s e-commerce site and select Saks Fifth Avenue stores. The limited edition line draws inspiration from the “playful spirit of California”, which has been applied to women’s ready-to-wear...

Business

Saks strikes up partnership with electric vehicle company Lucid

Luxury retailer Saks has announced its first-ever collaboration with an electric vehicle company as it looks to diversify its ecosystem to introduce customers “to the best in luxury”. As such, Lucid will be joining Saks for the multifaceted deal, through which exclusive demo drive experiences will be offered at select Saks Fifth Avenue store...

Fashion |In Pictures Featured

From candy canes to festive carousels: The most dazzling Christmas displays of 2023

With Christmas just around the corner and the hunt for last-minute gifts going ahead, fashion retailers and department stores are continuing their efforts to reel in customers with festively decorated shop windows, displays and pop-ups. Whether it's a Christmas tree, artificial snow or twinkling fairy lights, nothing has been missed for this...