Authentic Brands Group and Saks Global launch Authentic Luxury Group
Authentic Brands Group and Saks Global 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.
New strategic agreements
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.
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.
Growth opportunities
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.
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.
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