The stock market is bullish, the economy is recovering, consumer confidence is growing: all indicators are positive, fuelling luxury purchases on a North American market that is highly dynamic and promising for labels.
Saks Fifth Avenue announced on Tuesday the launch of the Saks Emerging Designer Accelerator Program, focused on leveraging its brand platform and luxury fashion expertise to develop high-potential independent brands.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.