The newfound Authentic Luxury Group will enhance the presence of Barneys New York in-store at Saks Fifth Avenue, online and in real estate with the launch of branded residences. Image courtesy of Saks Fifth Avenue
U.S. retailer Saks is looking beyond traditional department store models in a bid to generate sales.
It has partnered with American brand management company Authentic, formerly known as Authentic Brands Group, launching a joint business venture that seeks to foster growth through strategic licensing agreements and distribution channels, looping in hospitality, real estate, art and travel in addition to fashion, retail and digital projects. The new entity, Authentic Luxury Group, will accelerate the growth of Authentic’s luxury and accessible luxury properties: names such as Barneys New York, Judith Leiber Couture, Hervé Léger and Vince will be leveraged.
"With ALG, we are able to further our efforts to serve the full continuum of luxury consumers,” said Richard Baker, executive chairman of Saks Global, in a statement.
“We always strive to use our platform to give both established and emerging brands greater opportunities to extend their reach in luxury fashion, and this new platform will do just that,” Mr. Baker said. “We are proud to further enhance our partnership with Authentic and leverage our collective capabilities to unlock access to new audiences and reimagine the luxury experience.”
Backing luxury brand growth
Authentic Luxury Group is pushing the prestige members of Authentic’s growing brand portfolio forward.
The deal involves Saks Global, formed when parent company HBC acquired U.S. retailer Neiman Marcus in July 2024 (see story). Saks Global owns retail and real estate assets, including Saks Fifth Avenue, Saks Off 5th, Bergdorf Goodman and Neiman Marcus.
Up first for platforming is Barneys New York, which Authentic purchased in 2019, closing down its bricks-and-mortar locations.
The newfound Authentic Luxury Group will amplify its presence in-store at Saks Fifth Avenue, online via a dedicated ecommerce platform, additionally expanding into real estate, with Barneys New York residences to come.
The deal will leverage luxury brands such as Judith Leiber, maker of couture handbags for women. Image courtesy of Saks
A statement details the following: “With Authentic’s expertise as a global licensing powerhouse, coupled with Saks Global’s elevated ecommerce experiences and well-located store fleets, ALG is well positioned to create a new access point for luxury brands and experiences, catering to discerning consumers worldwide,” it says.
“The creation of ALG represents years of successful collaboration under our initial licensing agreement with Saks for Barneys New York,” said Jamie Salter, founder, chairman and CEO of Authentic Brands Group, in a statement.
“Building on our complementary strengths, ALG will further cultivate our brands by creating a multifaceted environment that reaches a broader audience through a wide range of offerings and experiences,” Mr. Salter said. “Our shared commitment to excellence and strategic vision positions us at the forefront of modern luxury.”