Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with, fashion industry news source Glossy reported Monday (Aug. 5). “What I don’t understand is how...
In an era where luxury is becoming increasingly defined by personalization, wealthy consumers are demanding that brands innovate, tailoring their offerings to match their individual preferences. Take, for instance, luxury giant LVMH. The company’s Selective Retailing business, offering “personalized shopping experiences matched to individual aspirations,”...
PYMNTS reporters, analysts and writers do dozens of interviews every week to bring you the editorial package that is PYMNTS and PYMNTS Intelligence. While they all inform our coverage, some of them rise above the others in terms of candor and insight. With that spirit...
Barneys New York reportedly plans to expand both its product offerings and its distribution if the planned acquisition of Neiman Marcus Group by the owner of Saks Fifth Avenue is completed. The brand, which closed its U.S. department stores after its 2019 bankruptcy and is...
February 12, 2024
As luxury brands increasingly find ways to create direct relationships with their customers, high-end department store chains are facing new challenges. Ralph Lauren, for its part, reported Thursday (Feb. 8) that it saw global direct-to-consumer (D2C) comparable store sales rise 9% in the third quarter of fiscal year 2024, gaining 1.7 million new D2C customers. […]
April 01, 2020
How can I help? It is the question that millions of Americans have been asking themselves for the last few weeks, as COVID-19, the disease caused by the coronavirus, has...
May 02, 2017
What separates the top performing omnireadi merchants from the under performers? Multiple strategies. And one such strategy that is catching the attention of top performing merchants is extending omnichannel features...
March 06, 2017
The new Neiman Marcus store in Dallas-Fort Worth is both very much like — and completely different from — the 42 other Neiman Marcus stores scattered throughout the United States. As...
August 21, 2024
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the transaction has expired, the luxury retail companies said in a Wednesday (Aug. 21) press release. “The expiration of the […]
August 05, 2024
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with,...
July 12, 2024
Barneys New York reportedly plans to expand both its product offerings and its distribution if the planned acquisition of Neiman Marcus Group by the owner of Saks Fifth Avenue is...
July 05, 2024
When Saks Fifth Avenue and Neiman Marcus merge, Amazon’s tech will help them thrive. That’s according to Marc Metrick, CEO of Saks’ online operations, speaking to Bloomberg News Thursday (July 4). This was one day after Saks announced it...
