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Saks’ Chapter 11 filing listed $3.4 billion in debts, and the retailer is on its third CEO in two weeks. But the industry is cautiously optimistic about what’s coming next. BoF’s retail editor Cat Chen explains how we got here, who gets paid and what a credible turnaround must look like.
The Chapter 11 filing comes just over a year after the retailer acquired Neiman Marcus and Bergdorf Goodman. The combined company struggled almost from the start amid sinking sales and fraught relations with vendors and creditors.
Cathaleen Chen is Retail Editor at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.
As the global luxury e-commerce engine stalls, BoF correspondent Austin Kim discusses his look at independent boutiques finding that the right strategic move is to stay offline.
As the pipeline to scaling a fashion business grows more precarious, some designers are ditching the pursuit of global prestige in favour of a slower approach to growth they say is more sustainable — and more fulfilling.
Brands are finally able to apply for refunds, but now they also have to decide how to deal with the customers who paid higher prices on their products, some of which are filing lawsuits against retailers demanding compensation of their own.
Textile, clothing and footwear stores reported a 1.2 percent month-on-month sales increase, while department stores recorded a 1.1 percent sales rise.
A Texas court ruled that the hair-care label’s bankruptcy filing be converted to Chapter 7.
As the French couture giant cruised into Biarritz this week, surging interest in its revamp under designer Matthieu Blazy scored it the top spot on the Lyst Index. But could Blazymania go too far?
Luxury fragrance house Amouage, together with The Business of Fashion, convened leading creatives for an evening of open dialogue on the evolution of the luxury industry — from visual symbol to deeper emotional connection.
After stepping back from his namesake brand, Dries Van Noten has opened a foundation in a Venetian palazzo dedicated to craft, beauty, and the things made by hand and soul. BoF's Tim Blanks speaks with the designer about why, in ugly times, making something beautiful is the only real form of protest.
