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Tom Gartland
🚀 Big news in luxury retail and an interesting article from Vogue Business Saks Fifth Avenue and Neiman Marcus Group Marcus are nearing a $3 billion merger, with support from Amazon and Salesforce. This merger could reshape the industry, leveraging Amazon's e-commerce and logistics prowess and Salesforce's top-tier CRM solutions. 🔗 Maghan McDowell
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WWD
Key functions of the Saks.com, the Saks Fifth Avenue stores known as SFA, and Saks Off 5th companies are being merged under the Saks Global umbrella. The strategy represents an effort to create efficiencies and will lead to what sources said were about 100 layoffs, or 1 percent of the staff, including the elimination of certain positions. Legal, technology, operations, people, communications and finance teams from the three companies will be consolidated under the Saks Global corporate umbrella. Read more here: https://lnkd.in/eFCWHy4e
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Tsui Yuen-Pappas
For those of us working in Sustainability in fashion it can feel lonely. When I worked at Theory 19 years ago, one of my responsibilities was to develop all the trims. I insisted that all metal trims be "nickel free" Nickel is a hard silvery-white metal that may cause irritation to the skin. Exposure can harm the lungs, stomach, and kidneys. Exposure to nickel may lead to cancer. Workers may be harmed from exposure to nickel.This was not popular because nickel finishes are super shiny and appeals to design sensibilities and cheaper. Luckily I had the authority to insist that we only use nickel free products. Eight years ago when I was heading up production at 3.1 Phillip Lim we were faced with the dilemma of a coating on a fabric that would make it waterproof but contained PFAS, versus a coating that would only be water repellent that did not contain PFAS. Again I insisted we should proceed to not use the waterproof coating despite sales would like it to be waterproof. PFAS is a forever chemical that has health effects on immunological, developmental or reproductive, hepatic, hormonal and carcinogenic – basically everything from asthma to testicular cancer. There is now the beginnings of a ban on them. Often there may not be regulations or awareness of the harm many of the materials or substances used in the production of clothing. Sustainability at a fashion company is not a department that drives revenue, your actions are often not popular like turning over rocks in the supply chain. But your work is important and vital. As I reflect on actions I made in the past this week, I am grateful that I insisted and that they had impact for both people and the environment.
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Selvane Mohandas du Ménil
Thank you Inside Retail US for quoting International Association of Department Stores - IADS in their latest article on the Saks Fifth Avenue / Neiman Marcus Group mega merger (link in comments)! 🎯 On the global department stores stage, the US represent a very specific market (apart from its size), as most of the nationwide companies are public (maybe not for long anymore, as Nordstrom, for instance, is planning to go private). This means that they have to be transparent on their numbers, which are not-so-good for a wide variety of factors (the missed e-commerce train, the customers' disaffection for the malls where they are located, a low differentiation between each other, an ageing clientele, a wide variety of competing channels and formats, an oversupply of stores on a market with the highest number of retail sqm per capita...). The Saks Fifth Avenue merger with Neiman Marcus Group, orchestrated by Saks' owner, Hudson's Bay Company, is therefore not so surprising as the pie has shrunk over the past twenty years. 💥 It can be expected that this merger will be as much of a game-changer as the latest one that took place in 2005, when Federated (aka Macy's now) acquired May Department Stores for $17.2bn (for comparison, the current NM / SFA merger price tag is $2.65bn), ending a 20 year-long consolidation cycle that saw the disappearance of legendary US destination stores (such as Filene's, Kaufmann's, Marshall Field's, Foley's, the Bon Marché, Hecht's, Stern's...) which were rebranded Macy's or Bloomingdale's according to the locations. 🚚 The new entity created, Saks Global, aims at maximizing the synergies between the companies, since Neiman Marcus and Bergdorf Goodman (part of the Neiman Marcus group) are the undisputed leaders in luxury retail, while Saks Fifth Avenue has separated its stores from its e-commerce entity in 2021. However, while the leadership of the new company has been announced, the plans remain vague, since this merger remains to be approved by the Federal Trade Commission. Pro tip: more than layoffs and store closures, the location of the new offices will be the most interesting thing to watch. The reason is that Neiman Marcus and Saks Fifth Avenue are entirely different animals: the former, specialized in luxury, is one of the last operator in the US to operate in wholesale (which requires savoir-faire, ability to select, curate and sell) while Saks Fifth Avenue is concession-based, which is another job. The place where the bosses will gather will tell everything about the direction of the new entity: Dallas (NM's current headquarters) or NY (SFA)? Not convinced? Look at what happened to Boeing since they decided to leave Seattle for Chicago when they merged with McDonnell Douglas... Thank you Nicole Kirichanskaya for the cool article and what a pleasure to be quoted along the great Marie Driscoll, CFA!
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Gaming Community
🚨 Kaedim3d.com is HIRING 🚨 Send resumes to recruiting3d@kaedim.com Image: Cameron Faulkner/Polygon | Source images: Loungefly, Eiichiro Oda Like Luffy is to food, some people can never have enough One Piece merch One Piece fans deserve a treat to keep them waiting for season 2 of Netflix’s live-action adaptation, so Loungefly made a new collection of apparel that new or longtime fans of the popular anime or manga will love. It’s a small, yet focused lineup of gear, including multiple backpack options, a zip-around wallet, pins of the main characters, and a Jolly Roger keychain. These items will be available for purchase directly from Loungefly soon, and they’ll also be available at other retailers. We’ll do our best to keep this post updated as more stores offer items from this collection. ⭐ The world's best game studios ship 7x faster with Kaedim3d.com - try it today to turn sketches into game assets in minutes #gdc #gdc2024 #a16z #GamingUpdates #MobileGames #GameDesign #Gamers #BuildingBetterGames
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Console Gamedev
🚨 Kaedim3d.com is HIRING 🚨 Send resumes to recruiting3d@kaedim.com Image: Cameron Faulkner/Polygon | Source images: Loungefly, Eiichiro Oda Like Luffy is to food, some people can never have enough One Piece merch One Piece fans deserve a treat to keep them waiting for season 2 of Netflix’s live-action adaptation, so Loungefly made a new collection of apparel that new or longtime fans of the popular anime or manga will love. It’s a small, yet focused lineup of gear, including multiple backpack options, a zip-around wallet, pins of the main characters, and a Jolly Roger keychain. These items will be available for purchase directly from Loungefly soon, and they’ll also be available at other retailers. We’ll do our best to keep this post updated as more stores offer items from this collection. ⭐ The world's best game studios ship 7x faster with Kaedim3d.com - try it today to turn sketches into game assets in minutes #gdc #gdc2024 #a16z #IndieGames #gamedev #VideoGameDevelopment #IndieGame #Gaming
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GameDev News
🚨 Kaedim3d.com is HIRING 🚨 Send resumes to recruiting3d@kaedim.com Image: Cameron Faulkner/Polygon | Source images: Loungefly, Eiichiro Oda Like Luffy is to food, some people can never have enough One Piece merch One Piece fans deserve a treat to keep them waiting for season 2 of Netflix’s live-action adaptation, so Loungefly made a new collection of apparel that new or longtime fans of the popular anime or manga will love. It’s a small, yet focused lineup of gear, including multiple backpack options, a zip-around wallet, pins of the main characters, and a Jolly Roger keychain. These items will be available for purchase directly from Loungefly soon, and they’ll also be available at other retailers. We’ll do our best to keep this post updated as more stores offer items from this collection. ⭐ The world's best game studios ship 7x faster with Kaedim3d.com - try it today to turn sketches into game assets in minutes #gdc #gdc2024 #a16z #Gaming #GameNews #GameDevelopment #GameIndustry #gamedev
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METAVERSE FASHION COUNCIL
THE BRAND IS MORE IMPORTANT THAN PRODUCT Jing Daily by Daniel André Langer: Most luxury brands are too focused on their products. While products may attract attention, it is a differentiating brand story that captures hearts. 🌪 While attending a recent luxury summit in Venice, Italy, one conversation stood out. “Brand is more important than the product,” Alberto Galassi, the CEO of Ferretti Yachts, highlighted on stage. Regular readers of my column will note that this is a point I have been making for years. Yet, when I regularly audit many luxury brands, an estimated 90% of them have relatively generic positioning. In other words, the brand is not differentiated in the eyes of clients. This often sharply contrasts with an internal view of being unique. The reason for the mismatch? The internal focus is often on the products. Many brands are satisfied if they believe their products have different designs, materials, or features. ⛱ For many luxury brands, the products themselves are often perceived as the centerpiece, the reason clients come and purchase. Iconic handbags, bespoke suits, limited-edition watches, and even yachts command attention and drive desire. Yet, in today’s hyper-competitive and social media-influenced market, it’s not the product alone that captivates consumers. The true essence of luxury lies in the story behind the product — in other words, what the brand stands for and its values. The brand story is what transforms a well-crafted and beautiful object into a symbol of culture, identity, and desire. This phenomenon is rooted in human psychology: people crave meaning, connection, and a sense of belonging. Only when a luxury brand presents a compelling and authentic story does it create extreme value. 🌊 Success stories Consider the success of brands like Hermès, Chanel, Louis Vuitton, and Patek Philippe. Their products are undoubtedly exquisite, crafted with the finest materials and impeccable attention to detail. However, what truly sets them apart is their precise brand story, including the legends and myths that surround them. The Hermès Birkin is the most iconic handbag in the world and a piece of fashion history because of its origin and connection with the iconic Jane Birkin. Chanel’s No. 5 is more than a fragrance; it is an olfactory masterpiece with a century-old legacy that evokes the story, personality, and allure of Coco Chanel herself. Louis Vuitton inspires extraordinary journeys through each of its products. This was recently embodied in its iconic Core Values campaign, which featured Roger Federer and Rafael Nadal, and will culminate in the opening of the first Louis Vuitton hotel in Paris in 2026. learn more: https://lnkd.in/gB3zFNhs #ai #fashion #metaverse #investment
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Maurice Brown
The industry is at a clear inflection point, but companies still have an opportunity to fully integrate DEI into their operating models. It’s still good business to do so, and it’s still the right thing to do. Well done Sheena Butler-Young. Keep on holding up that mirror to our industry. #corporateaccountability #dotherightthing
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Nancylee (Nancy) Matles
The Wall Street Journal, Saks Owner to Buy Neiman Marcus—With Help From Amazon. Retail rivals to combine in $2.65 billion deal to woo luxury shoppers. The parent of Saks Fifth Avenue sealed a $2.65 billion deal to buy rival Neiman Marcus, according to people familiar with the matter, creating a powerhouse in luxury retailing that seeks to hang onto wealthy shoppers—all with a little help from Amazon.com AMZN -1.21%decrease; red down pointing triangle . The boards of both companies have approved the transaction and an announcement could come as soon as this evening, the people said. The department-store chains had been negotiating for months and had explored a combination several times over the years. Both have struggled as some consumers spent less on pricey goods and fashion brands opened their own flagship stores. The combined company would have about $10 billion in annual sales, the people said. Luxury behemoth LVMH Moët Hennessy Louis Vuitton, which owns Louis Vuitton and dozens of other brands, had sales of about $94 billion last year. Amazon would take a minority stake in the new company, which will be called Saks Global, and plans to provide it with technology and logistical expertise, the people said. Salesforce is another minority shareholder. Saks already does business with both tech companies, so the transaction would deepen existing partnerships, one of the people said. HBC, a holding company that bought Saks in 2013, is financing the deal with $2 billion it raised from existing investors, the people said. They include Rhône Capital, the Abu Dhabi Investment Council and NRDC Equity Partners, a private-equity firm run by Richard Baker, HBC’s executive chairman, and his son Jack Baker. Affiliates of Apollo Global Management APO -0.20%decrease; red down pointing triangle are providing $1.15 billion in debt financing. By Suzanne Kapner and Lauren Thomas #retail #thefutureofretail #luxuryretail #jobs #management https://lnkd.in/eT5qEiWk
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Sustaina Company
Last week, Anne had to travel a little further than usual to go to the office 🇺🇸 Since ebp Global, whom we are a proud part of, has become a member of the American Apparel & Footwear Association (AAFA), we now have the opportunity to participate in their events and conferences. So, along with Keith and Nanda from ebp, she went to the AAFA Global Supply Chain & Trade Conference in Portland, Oregon. There were a bunch of different speakers and topics covered. While on the topic of sustainability, one speaker mentioned that in his company they have decided that the best way to be compliant in the USA is to meet EU regulations. There are two reasons for this: One, different states are doing different things, and two, they are mostly copying the EU. Very interesting to consider, we think! 💡 Check out the picture to see some of the other topics on the agenda ⬇ #GlobalSupplyChainandTrade #Sustainability #EUGreenDeal
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Fashonation
Yo Fashonation. It’s time to embrace the past. In the ever-evolving fashion world, what’s old is often new again. This year, we’re witnessing a resurgence of retro fashion trends making a stylish comeback on the runways and streets alike. From nostalgic references to past eras to timeless pieces that transcend time, let’s delve into the top 7 vintage fashion trends that are taking center stage in 2024. https://lnkd.in/g5BmDxUc
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Tommy Fahrner
🧟♀️ It struck me that Modern Retail’s recent article on DTC Zombies references two brands (Feat and Outdoor Voices) situated within the athleisure apparel space. Just as retailers anticipated a permanent shift from in-store shopping to e-commerce after the pandemic it was expected everyone would continue wearing athleisure at the same frequency after lockdowns. 📈 Projecting market demand for athleisure is challenging because it sits in the in-between spaces. Athleisure blurs traditional clothing lines, raising questions: Are hoodies and sweatpants athleisure? What about t-shirts? Is loungewear indoor athleisure or a separate category? Is “Bad Sandy” wearing a leather jacket and leggings at the end of “Grease” athleisure? The definition is fluid, influenced more by styling and usage than by distinct categories. 👗 While many women still wear yoga pants beyond the mat, there’s also a resurgence in tailored bottoms, exemplified by Aritzia’s wide-leg trousers. Dresses and skirts have made a comeback with a return to more careerwear and occasion dressing. Women consumers are embracing a post-pandemic wardrobe era with more distinctive outfitting propositions than 4 years ago. 🧘🏻♀️Of the upstart DTC brands described as athleisure in recent years, only Alo Yoga is the major competitive threat to Lulu’s women’s business. Not even Nike or adidas have been able to pull that off with apparel, though they have tried. Alo is smaller in volume than Lulu, but growing 30% YoY with a higher proportion of women’s consumers. Gap Inc. has also successfully evolved Athleta from a catalog business (old-school DTC) into a growing omnichannel concept that exclusively serves women and girls. 🏃🏾♀️Lululemon may have popularized leggings as casual wear, but it remains rooted in its athletic heritage, evident in its partnerships with Team Canada at the Olympics. Alo Yoga and Athleta’s very names indicate that activewear is the core of their brand. The latter has even attracted high-profile former Nike athletes Allyson Felix and Simone Biles as brand partners. 🎽 While at first glance DTC athleisure may be seen as a fading opportunity, Lulu Lemon, Alo Yoga, and Athleta are all DTC brands leading in the space. This would suggest that winning in DTC athleisure is less about positioning a brand in the in-between spaces but rather winning with women’s performance apparel. #merchandising #sportswear #athleisure #trends #DTC #fashion
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