NEW YORK--(BUSINESS WIRE)--Authentic Brands Group (Authentic), a global brand development, marketing, and entertainment platform, and Saks Global, a combination of world-class luxury retailers, including Saks Fifth Avenue and Saks OFF 5TH, are partnering to launch a new joint venture, Authentic Luxury Group (ALG). Housing Authentic-owned luxury and accessible luxury brands, including Barneys New York, Judith Leiber Couture, Hervé Léger and Vince, this innovative venture is centered on the goal of redefining and expanding the modern luxury experience for customers worldwide.
ALG will serve as an incubator for brand growth through new strategic licensing agreements and distribution channels across sectors, including fashion, retail, digital, hospitality, real estate, art and travel. Barneys New York will be the first brand positioned for accelerated growth under the ALG platform. ALG will also extend its brands beyond fashion and into lifestyle categories, similar to the Barneys New York Residences, which opened in Tulum, Mexico earlier this year. ALG will also showcase the world’s most prestigious destinations through exclusive real estate partnerships to develop branded luxury residences, condominiums and hotels.
Jamie Salter, Founder, Chairman, and CEO of Authentic, said, “The creation of ALG represents years of successful collaboration under our initial licensing agreement with Saks for Barneys New York. 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. Our shared commitment to excellence and strategic vision positions us at the forefront of modern luxury.”
Richard Baker, Executive Chairman of Saks Global, said, “With ALG, we are able to further our efforts to serve the full continuum of luxury consumers. 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. 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.”
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.
Through its focus on innovation and global expansion, ALG aims to generate growth opportunities and create value for its strategic licensing and distribution partners, each of which bring distinctive positioning, loyal followings and significant global potential:
Barneys New York: In addition to its significant presence in Japan and namesake beauty line, Barneys New York recently launched a captivating collaboration with Hourglass. This initiative has been complemented by a pop-up store on Prince Street in New York City. The pop-up showcases a curated collection of luxury art and fashion, a coffee truck by the renowned Freds and a series of notable events, highlighting a promising opportunity for expansion under ALG's leadership. The brand’s expansion will also include an enhanced presence at Saks Fifth Avenue, strengthened retail footprint, a dedicated ecommerce platform, and the launch of Barneys New York residences.
Judith Leiber Couture: Judith Leiber Couture has amassed an influential following of celebrities, artists, and influencers worldwide. From runways to red carpets and city streets, the brand is celebrated for its unique and whimsical designs. Inspired by pop culture, Judith Leiber Couture creates captivating novelty bags that turn heads and spark conversation.
Hervé Léger: Known for its iconic bandage dress, Hervé Léger is a timeless symbol of glamour, consistently redefining modern fashion with its signature body-contouring designs. Michelle Ochs' modern interpretations have broadened the brand's appeal, making it suitable for a wider range of occasions from daytime to evening.
Vince: Synonymous with effortless luxury and modern sophistication, Vince continues to elevate everyday essentials with its timeless designs and high-quality craftsmanship. Known for its clean lines, neutral tones, and versatile pieces, Vince has built a strong following among those who value understated elegance. Since acquiring the brand just over a year ago, Vince's global expansion into markets underscores its growing appeal with 65 retail stores across the US, UK and China.
The formation of ALG is subject to the finalization of definitive documentation.
HBC announced the formation of Saks Global in connection with its proposed acquisition of Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman. The acquisition remains subject to customary closing conditions. Following closing, Authentic will make a minority investment in Saks Global.
About Authentic Brands Group
Authentic Brands Group (Authentic) is a unified platform that integrates M&A, brand strategy, creativity and digital innovation to unlock the power of its global portfolio. It connects iconic sports, lifestyle, entertainment and media brands with best-in-class partners to optimize long-term value in the marketplace. Generating more than $32 billion in global annual retail sales, Authentic’s brands have an expansive retail footprint in 150 countries, including 13,000-plus freestanding stores and shop-in-shops and 400,000 points of sale.
Authentic’s brand portfolio includes Shaquille O’Neal, David Beckham, Sports Illustrated, Dr. J, Greg Norman, Neil Lane, Thalia, Marilyn Monroe, Elvis Presley, Muhammad Ali, Reebok, Champion, Brooks Brothers, Barneys New York, Judith Leiber Couture, Ted Baker, Hunter, Vince, Hervé Léger, Frye, Nautica, Juicy Couture, Vince Camuto, Lucky Brand, Aéropostale, Forever 21, Nine West, Sperry, Rockport, Eddie Bauer, Boardriders, Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Spyder, Volcom, Prince, Izod, Van Heusen, Hart Schaffner Marx and Thomasville.
For more information, visit authentic.com.
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About Saks Global
Saks Global is a combination of world-class luxury retailers, including Saks Fifth Avenue and Saks OFF 5TH, as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels.
