The newly formed Authentic Luxury Group will expand Barneys New York’s presence in Saks Fifth Avenue stores, online and in real estate with the launch of Branded Residences. Image courtesy of Saks Fifth Avenue
American retailer Saks is going beyond the traditional department store model to generate sales.
The company has partnered with American brand management company Authentic (formerly known as Authentic Brands Group) to grow through strategic licensing agreements and distribution channels that include hospitality, real estate, art and travel in addition to fashion. We have launched a joint venture that aims to promote this. Retail and Digital Projects. The new organization, Authentic Luxury Group, will accelerate the growth of Authentic’s upscale and accessible luxury properties. Names like Barneys New York, Judith Leiber Couture, Hervé Leger, and Vince will be leveraged.
“ALG allows us to further serve luxury consumers,” Richard Baker, executive chairman of Saks Global, said in a statement.
“We always strive to use our platform to provide both established and emerging brands with great opportunities to expand their reach in the luxury fashion space, and this new platform does just that. ” Baker said. “We are proud to further strengthen our partnership with Authentic and leverage our collective strengths to unlock access to new audiences and reimagine the luxury experience.”
Helping luxury brands grow
Authentic Luxury Group is advancing the Prestige member of Authentic’s growing portfolio of brands.
The deal involves Saks Global, which was created when parent company HBC acquired U.S. retailer Neiman Marcus in July 2024 (see story). Saks Global owns retail and real estate assets including Saks Fifth Avenue, Saks Off Fifth, Bergdorf Goodman, and Neiman Marcus.
Barneys New York was the first to launch into a platform, which Authentic acquired in 2019 and closed its brick-and-mortar stores.
The newly formed Authentic Luxury Group will increase its presence in Saks Fifth Avenue stores, online through a dedicated e-commerce platform and expand into real estate, including Barneys New York Residences. It’s planned.
The partnership will leverage luxury brands such as Judith Leiber, a maker of haute couture handbags for women. Image courtesy of Sachs
The statement elaborates: “By combining Authentic’s expertise as a leading global licensing company with Saks Global’s advanced e-commerce experience and well-located storefronts, ALG will “We are well-positioned to create new access points to luxury brands and experiences that cater to discerning consumers around the world.”
“The creation of ALG builds on our long-standing partnership with Saks for Barneys New York,” said Jamie Salter, founder, chairman and CEO of Authentic Brands Group, in a statement. It represents a successful cooperation.”
“ALG will continue to grow our brands further by building on our complementary strengths to create a multifaceted environment that reaches a broader audience through a wide range of services and experiences,” Salter said. Ta. “Our shared commitment to excellence and strategic vision positions us at the forefront of modern luxury.”
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