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Saks Fifth Avenue

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Saks Fifth Avenue Expands the Fifth Avenue Club

by Katie Lee

New York City — Saks Fifth Avenue is expanding its luxury personal shopping and styling service, the Fifth Avenue Club, with the launch of private, standalone suites in destinations across the U.S. These luxe Fifth Avenue Club Suites are an evolution of the brand’s existing Fifth Avenue Clubs, which have historically been housed within Saks Fifth Avenue stores and provide customers with the highest level of personalized service. Saks Fifth Avenue has partnered with leading luxury resort operators, including Marriott International and its portfolio of luxury brands including The Ritz-Carlton …

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Newspeopleretailers

Bloomingdale’s Promotes GMM to Chief Merchant

by Katie Lee

New York City — According to Tony Spring, Bloomingdale’s chairman and CEO, Denise Magid has been promoted to the newly created role of chief merchandising officer. She will report to Spring and will drive the strategic direction and performance of all Bloomingdale’s merchandising initiatives. The creation of the chief merchant role is a historic step for Bloomingdale’s and allows the brand to build on the momentum coming off its strong 2022 performance and its 150th anniversary celebration. “We are confident that Denise’s vision and leadership will continue to strengthen our …

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construction and designNewsretailers

Saks Strengthens Commitment to Men’s Business Online and In Stores

by Katie Lee

New York City — Saks has unveiled a new men’s shopping experience on the seventh floor of Saks Fifth Avenue’s New York flagship store and expanded its menswear assortment online as part of the luxury retailer’s ongoing commitment to its men’s business. The 40,000-square-foot advanced designer and contemporary ready-to-wear department offers more than 70 brands — 23 of which are new to the store — and features shop-in-shops by key men’s brands including CELINE, Dior Men, Gucci, Louis Vuitton, and more. “Our men’s business has experienced significant growth over the …

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Industry Voicesretailers

Maximizing The Experience

by Katie Lee

— By Jon Jaggers — Cross-pollinating your retail experience: store-within-a-store, dual brands, and sub-brands.   In today’s retail climate, many customers are looking for experiences beyond the store. These days, more and more brands are partnering with other businesses to offer a unique experience that both brand partners can share. This is called cross-pollination within retail, and it has become one of the hottest trends in the business world. In this column, we’ll explore what exactly cross-pollinating your retail experience means and how you can use it as an opportunity …

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Newspeopleretailers

MedMen Taps Former Hudson’s Bay Executive as CEO; COO to Resign

by Katie Lee

Los Angeles — MedMen Enterprises Inc., a premier cannabis retailer with operations across the United States, has appointed Edward Record as chief executive officer, effective immediately. Record succeeds interim CEO Michael Serruya, who will continue to serve as chairman of the board. Record joined MedMen’s board of directors in 2021. He brings deep retail and restructuring experience, having overseen financial and operational performance for several large national retailers. He previously served as the chief financial officer for Hudson’s Bay Company, whose U.S. holdings include Saks Fifth Avenue. Before joining HBC, …

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Newsretailers

HBC and Insight Partners Launch Saks as a Standalone E-Commerce Company

by Katie Lee

New York City — HBC and leading growth capital investor Insight Partners have entered into a partnership that establishes Saks Fifth Avenue’s e-commerce business as a standalone entity, which will be known as Saks. Insight Partners has made a $500 million minority equity investment in Saks, valuing the business at $2 billion. The retailer’s 40-store fleet will operate separately as an entity referred to as SFA, which remains wholly owned by HBC. As separate but related sister companies, Saks and SFA will be better able to appropriately plan for and …

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Newspeopleretailers

Hudson’s Bay Company Names New President

by Katie Lee

Toronto — Hudson’s Bay Company (HBC) has appointed Iain Nairn as president, effective January 12, 2020. A highly accomplished retail executive, Nairn has a remarkable track record of driving profitable growth and transformational change at a wide variety of retailers, from specialty to department store formats. He reports directly to Helena Foulkes, CEO of HBC. “We took time to conduct a thorough, worldwide search to ensure we found the right person to lead the business and steward the Hudson’s Bay brand,” Foulkes says. “Iain brings strong leadership, sharp focus and …

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Newsretailers

ABG Acquires Barneys New York

by Katie Lee

New York City — Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, has emerged as the successful bidder to purchase the intellectual property of Barneys New York (Barneys). Through this acquisition, which closed on November 1, ABG will enhance its luxury footprint and further establish its position as a leader in contemporary fashion. “We are thrilled that our offer for Barneys has been accepted,” says Jamie Salter, founder, chairman and CEO of Authentic Brands Group. “Barneys is one of the most recognizable and iconic names in …

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construction and designNewsretailers

Saks Fifth Avenue Debuts New Main Floor of Manhattan Flagship Store

by Katie Lee

New York City — On February 5, 2019, Saks Fifth Avenue opened one of the largest luxury handbag destinations in New York City, furthering the $250 million ‘grand renovation’ of its Fifth Avenue flagship. The 53,000-square-foot main floor of the New York Flagship triples the handbag department selling space which includes more than 50 brands —14 of which are new to the store.

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