Live from New York, it’s a Saks Fifth Avenue x “Saturday Night Live” partnership. Saks is teaming up with NBC’s Emmy Award winning late-night comedy show to celebrate the show’s 50th anniversary. Starting Tuesday, customers can visit a dedicated SNL landing page, Saks.com/SNL50, to shop exclusive SNL-inspired merchandise and explore editorial content and videos showcasing … Read more
This past year was a busy one for Johanna Ortiz, the Colombian fashion designer who expanded her brick-and-mortar presence to Madison Avenue and Bal Harbour, Fla., and embarked on the traveling “caravan” concept around the U.S., Europe and South America. These direct-to-consumer moves, which will continue into the new year, bring her brand’s Latin heritage … Read more
Richard Baker has talked about buying Neiman Marcus Group ever since he acquired Saks Fifth Avenue over a decade ago. Having succeeded at last, now he and his management team have to make the combined group work. The completion of the $2.7 billion deal, announced Monday, comes as Saks continues to struggle, delaying payments to … Read more
A new luxury retail empire has been created. Late Monday afternoon, Saks Global disclosed that it has finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion, as has been expected. The agreement by Saks to buy the Neiman Marcus Group was announced in July 2024. Saks Global now includes Neiman Marcus, Bergdorf … Read more
As Saks Fifth Avenue parent HBC inches closer to its deal to buy Neiman Marcus Group, it is taking a close look at its own store portfolio and is said to be closing its Palm Beach, Fla. store. But overall, the Saks world is set to get much bigger. According to sources, HBC has secured … Read more
HBC, parent to Saks Fifth Avenue, appears on track to close its $2.65 billion acquisition of Neiman Marcus Group and could lock in a junk bond offering sometime in the next few weeks. “We are working on a bond. It’s been well received,” Richard Baker, HBC executive chairman and chief executive officer, told WWD on … Read more
Authentic Brands Group has partnered with Sequence Tulum to create its Barneys New York-branded residences in Tulum, Mexico. The residences are located in the Luum Zama community and are being operated by LocoLuxury, a luxury hospitality company in Tulum. There are 10 Barneys New York Residences that range in size from four-bedroom residences to five-bedroom … Read more
A cause for optimism? Though luxury brands have been slumping this year, it should be a decent holiday season for the sector, at least based on findings from the latest Saks Luxury Pulse, set to be released Tuesday to the industry. Eighty-two percent of luxury consumers celebrating the holidays plan to spend at least the same on holiday shopping … Read more
Terron Schaefer, the long-time chief creative director of Saks Fifth Avenue who left there to join Harrods, has died in Houston, according to Fern Mallis. He was just shy of his 80th birthday, which was Oct. 26. Schafer, whose title was executive vice president and chief creative officer at Saks, was also the breakout star … Read more
Creating superbrands to emerge out of India has long been a dream — and two well-known Indian designers are taking the next step, launching exclusively with Saks on Thursday. Saks has teamed up with internationally acclaimed designer labels AFEW Rahul Mishra and AK|OK Anamika Khanna, as the brands’ exclusive retail partner in the United States. This … Read more
