Saks Global Nabs $500 Million in Post-Bankruptcy Financing
The department store group aims to exit Chapter 11 by summer with a leaner store footprint and repaired vendor relationships.
Cathaleen Chen
Retail Correspondent
Cathaleen Chen is Retail Editor at The Business of Fashion (BoF). She is based in New York and drives BoF's coverage of the retail and direct-to-consumer sectors. Prior to BoF, Cathaleen was a consumer reporter for TheStreet and covered real estate for The Real Deal. She graduated from Northwestern University with a degree in journalism.
Retail
A Survival Guide for Independent Brands
Prompted by the overwhelming response to a recent briefing about the ‘industry that eats its young,’ we’ve gathered the most vital strategies from the BoF archive to help independent designers navigate today’s fraught retail landscape.
A Survival Guide for Independent Brands
Prompted by the overwhelming response to a recent briefing about the ‘industry that eats its young,’ we’ve gathered the most vital strategies from the BoF archive to help independent designers navigate today’s fraught retail landscape.
Luxury
The Luxury Rebound Gets a Reality Check
A set of underwhelming first-quarter revenues from French luxury groups LVMH, Kering and Hermès is challenging hopes for a sector recovery this year.
The Luxury Rebound Gets a Reality Check
A set of underwhelming first-quarter revenues from French luxury groups LVMH, Kering and Hermès is challenging hopes for a sector recovery this year.
Marketing
Why Instagram’s Shoppable Reels May Be Too Little, Too Late
The tech giant is finally allowing creators to earn affiliate commissions through its in-app product tags. But with so many other influencer monetisation platforms on the market, it faces stiff competition for adoption.
Why Instagram’s Shoppable Reels May Be Too Little, Too Late
The tech giant is finally allowing creators to earn affiliate commissions through its in-app product tags. But with so many other influencer monetisation platforms on the market, it faces stiff competition for adoption.
Retail
Is the Future of Shopping Hiding Inside Luxury Hotels?
As fashion brands race to ink hotel tie-ups, MML Hospitality is reversing the formula, expanding luxury boutique ByGeorge into new markets through placement in its properties and operating the retail floor with a true concierge mindset.
Is the Future of Shopping Hiding Inside Luxury Hotels?
As fashion brands race to ink hotel tie-ups, MML Hospitality is reversing the formula, expanding luxury boutique ByGeorge into new markets through placement in its properties and operating the retail floor with a true concierge mindset.
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Retail
Unpacking Saks Global’s Post-Bankruptcy Plan
The luxury giant has filed its roadmap to exit Chapter 11 this summer, confirming it will not sell Bergdorf Goodman. Under the new deal, bankruptcy lenders will take full ownership, wipe away billions in debt and set the stage for a leaner, more profitable operation.
Unpacking Saks Global’s Post-Bankruptcy Plan
The luxury giant has filed its roadmap to exit Chapter 11 this summer, confirming it will not sell Bergdorf Goodman. Under the new deal, bankruptcy lenders will take full ownership, wipe away billions in debt and set the stage for a leaner, more profitable operation.
Sports
The Public Isn’t Buying What Nike Is Selling. Can That Change?
Nike CEO Elliott Hill publicly exuded plenty of confidence during the company’s crucial third-quarter earnings call. That didn’t stop the brand’s stock from hitting an 11-year low.
The Public Isn’t Buying What Nike Is Selling. Can That Change?
Nike CEO Elliott Hill publicly exuded plenty of confidence during the company’s crucial third-quarter earnings call. That didn’t stop the brand’s stock from hitting an 11-year low.
Retail
Online Resale Is Booming. Why Are So Many Users Unhappy?
Global secondhand sales are hitting record highs, but the platforms driving the boom are increasingly alienating some sellers with low payouts and logistical issues.
Online Resale Is Booming. Why Are So Many Users Unhappy?
Global secondhand sales are hitting record highs, but the platforms driving the boom are increasingly alienating some sellers with low payouts and logistical issues.
Technology
The Debrief | The Retailer That’s Obsessed With AI
The Debrief hosts Brian Baskin and Sheena Butler-Young are joined by BoF’s retail editor Cathaleen Chen to talk about why Revolve is betting on ‘a culture of AI’ for their expansion.
The Debrief | The Retailer That’s Obsessed With AI
The Debrief hosts Brian Baskin and Sheena Butler-Young are joined by BoF’s retail editor Cathaleen Chen to talk about why Revolve is betting on ‘a culture of AI’ for their expansion.
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Technology
Should Luxury Stop Worrying and Learn to Love AI Imagery?
From Warhol to Jordan Wolfson, art is often driven by the tools that once terrified it. Prada’s polarising Wolfson campaign makes the case that AI is no different.
Should Luxury Stop Worrying and Learn to Love AI Imagery?
From Warhol to Jordan Wolfson, art is often driven by the tools that once terrified it. Prada’s polarising Wolfson campaign makes the case that AI is no different.
Retail
The Zara-Fication of John Galliano
Fashion’s enfant terrible is trading exclusivity for the mass market. Is it the ultimate fashion coup, or the final surrender of prestige?
The Zara-Fication of John Galliano
Fashion’s enfant terrible is trading exclusivity for the mass market. Is it the ultimate fashion coup, or the final surrender of prestige?
Retail
Why Revolve Can’t Stop Talking About AI
The e-commerce giant is betting that a ‘culture of AI’ can solve the mysteries of physical retail and help power its new pricey namesake luxury label.
Why Revolve Can’t Stop Talking About AI
The e-commerce giant is betting that a ‘culture of AI’ can solve the mysteries of physical retail and help power its new pricey namesake luxury label.
Retail
Is Quince Really Worth $10 Billion?
From $50 cashmere to Dom Pérignon champagne, the everything store for the aspirationally bougie is outrunning the ghosts of DTC past.
Is Quince Really Worth $10 Billion?
From $50 cashmere to Dom Pérignon champagne, the everything store for the aspirationally bougie is outrunning the ghosts of DTC past.
The News in Brief
Aritzia Buys Fred Segal IP and Plans to Revive Melrose Avenue Flagship
Aritzia plans to revitalise the store and its famous ivy-covered façade, transforming it into a renewed multibrand lifestyle destination.
EBay Acquires Depop from Etsy for $1.2 Billion
With the purchase, the e-commerce giant is gaining a critical foothold with younger shoppers and will expand its share in luxury resale.
Saks Global to Close Nine Stores
The move follows the company’s announcement last week to shutter its off-price business, Saks Off Fifth.
FWRD Names Rosie Huntington-Whiteley as Fashion Director
The Revolve-owned retailer is doubling down on its celebrity-led strategy, adding Huntington-Whiteley to its executive ranks as it looks to widen its lead in the luxury e-tail market.
Frasers Group Acquires Majority Stake in The Webster
The specialty retailer, which has 13 locations across North America, will continue to operate as a standalone business.
Vestiaire Collective Chief Executive Max Bittner Exits
CFO Bernard Osta, a former investment banker who joined the resale platform in 2021, will step into the top job, effective immediately.
Report: Saks Global to Sell $1 Billion Stake in Bergdorf Goodman
The retailer is seeking an investor to take on 49 percent of the New York luxury retailer, according to the Wall Street Journal. Proceeds will go towards easing a heavy debt load less than a year after acquiring Neiman Marcus.