Kristi Kiraly

Rumors: Saks Fifth Avenue could be in talk with Neiman Marcus Group for a takeover. In this regards Saks’ flagship location in Manhattan (valued at 3.62Bn USD) could serve as a collateral to raise financial resources. Neiman CEO Geoffroy van Raemdonck firmly rejected such possibility: "no need” to sell the business. Both firms are leading retailers in United States for jewellery and luxury goods. #jewelry #jewellery #luxury https://lnkd.in/dP46VnM3

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🌟 Exciting News from Saks: Embracing Growth and Innovation 🌟 Saks and Neiman Marcus are joining forces to create Saks Global! As Marc Metrick, CEO of Saks, mentioned recently to WWD, their focus remains on what they can control amidst regulatory processes. The strategy is clear: to drive growth and enhance customer experiences. Named "Saks Global," this new entity reflects their commitment to leveraging technology and real estate assets to redefine luxury retail. While discussions about international expansion are underway, their immediate priority is strengthening the brand presence in North America. "We understand the importance of financial stability and responsibility. Rest assured, the merger's financing will not affect day-to-day operations or vendor relationships. Our goal is to maintain transparency and uphold our commitments to partners." say Mark to WWD. This merger marks a significant step forward for Saks Global in the Luxury Retail journey. As they look forward to continuing to provide exceptional experiences for their customers and creating new opportunities for their brand partners. Now I wonder, after this exciting merger, how will Saks Global redefine luxury retail and elevate customer experiences in the years to come? Stay tuned for more updates as we navigate this exciting chapter together! 🚀 #SaksGlobal #LuxuryRetail #Innovation #GrowthStrategy

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I think the impact of these two industry luxury leaders will be very interesting to watch. This article focuses more on the beauty side, but there are many less obvious impacts this will have on multiple industries. Jewelry, apparel, accessories, marketing, the list goes on. When you take two known names and structure them to be more profitable and leverage the best of the branded and marketing teams, get ready for an explosion of growth potential. This will also add to an even further divide in the retail sector between department stores following the wealth division in the US. Naming the large department stores now, Saks Fifth Avenue/Neiman Marcus Group, Nordstrom, Dillard's Inc., Von Mauer, Macy's, JCPenney, Kohl's, then discounters.... not many national choices but they all have very focused demographic groups. Stay tuned!

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Strategies and tactics about how to gather richest shoppers. A lot of conventional and close-to-conventional activities from top retailers like Neiman Marcus Group and Saks Fifth Avenue. Is it a true luxury experience? Or -at the end- is something like a mass-market (in smaller numbers)? #luxury #jewelry #jewellery https://lnkd.in/eNcCVgpG

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Guess appoints Andrew Rosen as CEO of Rag & Bone. The appointment comes nearly two months after Guess Inc. and WHP Global will complete the acquisition of the New York-based brand. In February, Guess and WHP Global announced a final deal to acquire Rag & Bone, which was completed in April. Under the terms of the agreement, Guess paid more than $57 million for the purchase, in addition to contributions from WHP Global, according to a press release. OptimaRetail.eu: Experts in worldwide #Retail #maintenance and #repairs - SMART FACILITY MANAGEMENT  #RetailInnovation #FutureTrends #OptimaRetail #facilityManagement #PreventiveMaintenance #ReactiveMaintenance #NewsOptimaRetail #NewsRetail #OptimaRetail

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A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? Our team took a look at that and have some findings. https://lnkd.in/d2i8fHUv

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🔥 Hot Off the Press! 🔥 Dive into my latest column in TJC's Summer Issue! "9 Strategies to Elevate Your Customers' In-Store Experience." Running a successful jewelry retail business requires continuous innovation and strategic approaches to attract and retain customers. Here are effective ways to expand your business by enhancing your overall customer experience: 1. EMBRACE VIRTUAL SELLING: Explore virtual selling options by offering virtual appointments and creating sales videos. Even post-COVID, virtual selling remains a successful method to connect with customers. 2. PROVIDE FREE WATCH BATTERIES WITH A TWIST: Offer free watch battery replacements while customers wait. This low-cost service allows customers to explore other items in your store while their watch is being serviced. This simple gesture can lead to additional sales. 3. COLLABORATE WITH INFLUENCERS: Partner with social media influencers or local celebrities who align with your brand. Hosting influencer events generates free content for your store and expands your reach to their followers. Influencers can help promote your products authentically and engagingly. 4. HOST EVENTS STRATEGICALLY: Hosting events can contribute up to 10% of your annual sales. Collaborate with local businesses, offer targeted marketing based on past purchases, and invite vendors to showcase their full lines or pieces created exclusively for your store. 5. DEVELOP A LOYALTY PROGRAM: Implement a loyalty program to reward customers for their ongoing support. Exclusive discounts, early access to collections, and special perks create incentives for repeat purchases and build long-term customer relationships. 6. EXPAND INTO CUSTOM JEWELRY DESIGN: Differentiate your store by expanding into custom jewelry design. Find a supplier that offers unique customization options and set yourself apart in the market. 7. PARTNER WITH WEDDING AND EVENT PLANNERS: Establish partnerships with wedding and event planners to become their preferred jewelry provider. Offer promotional discounts for their clients, provide custom jewelry for special occasions, and collaborate with florists to display fresh flowers in your store. 8. COLLABORATE WITH LOCAL PHOTOGRAPHERS: Partner with local photographers to offer free or discounted engagement sessions. This collaboration not only attracts potential customers but also positions your store as the go-to destination for wedding-related jewelry. 9. ENHANCE THE IN-STORE EXPERIENCE: Focus on personalized service, knowledgeable staff, and aesthetically pleasing displays. A positive in-store experience encourages customer loyalty and word-of-mouth referrals. Stay innovative and adapt to your target audience’s evolving needs and preferences. Creating memorable experiences will contribute to building a strong and loyal customer base. Ready to take your jewelry retail business to the next level? Let's elevate your customer experience together! 🌟

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THE SAKS-NEIMAN MARCUS MEGA-DEAL AND AMAZON'S UNDERGROUND PATH TO LUXURY Maghan McDowell for Vogue Business 💥 HBC, the parent company of luxury retailer Saks Fifth Avenue, has confirmed reports that its long-awaited deal to acquire rival Neiman Marcus Group — owner of Neiman Marcus and Bergdorf Goodman — for $2.65 billion is finally here. And as a pending investor in the merged company, Amazon has found a new path (or underground tunnel) into luxury fashion. 💭 “We’re thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,” said Richard Baker, HBC executive chairman and CEO, in a statement. “For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees. This is an exciting time in luxury retail, with technological advancements creating new opportunities to redefine the customer experience, and we look forward to unlocking significant value for our customers, brand partners and employees.” 💥 An interesting development is Amazon’s involvement. Amazon will be an investor in and work with Saks Global “to innovate on behalf of customers and brands partners following the close of the transaction”, a release issued by HBC reads. This will give Amazon discrete access to luxury products, stores, sales associates and data. At the same time, the retailers stand to gain access to more sophisticated technology and logistics; Salesforce, which has been steadily rolling out generative artificial intelligence tools for retailers, will also become an investor. 👔 Amazon, the largest clothing retailer in the US, has for years worked to expand into luxury fashion, which has higher margins but is somewhat at odds with Amazon’s efficiency-over-style ethos. During the pandemic in 2020, it brokered deals with the Council of Fashion Designers of America and the British Fashion Council to start a new luxury stores division, recruiting brands including Oscar de la Renta, Jonathan Cohen and Adam Lippes. In 2022, it expanded that effort to include Europe, with brands including Christopher Kane and Elie Saab. It sponsored the CFDA awards in 2023. LEARN MORE: https://lnkd.in/eau7A69j #fashion #metaverse #ai #metaversefashion #investment #web3

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Tiffany Stevens is doing some amazing work to insure continued growth for the entire supply chain. Checkout her latest thoughts on this podcast.

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A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? We took a look at that and have some findings. https://lnkd.in/dDw4s8MQ

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Despite competition from second-hand market disruptors and a dip in birth rates, childrenswear continues to outperform other sectors. Find out how by subscribing below. #childrenswear #kidswear #secondhand #resale #fashionnews #fashionretail

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As they say: ‘The riches are in the niches.’ With its fourth acquisition in just over a year, FULLBEAUTY Brands is rapidly advancing on its mission to establish a plus-size fashion empire. The current market dynamics in direct-to-consumer brands have presented FullBeauty with a unique opportunity to not only enhance its existing business but also to actively target diverse shoppers in the $81 billion women’s plus market. Full Beauty’s niche-focused strategy is evident through the acquisition of plus apparel specialist Avenue, strategically positioning their brands to cater to a wide range of consumer demographics. From younger shoppers at Dia & Co and ELOQUII to a more mature audience at Catherines, FullBeauty is covering the full spectrum of the market with precision. It’s refreshing to witness such a clear brand strategy in action, especially during a time when many companies are aiming to broaden their appeal to a wider target audience. Kudos to FULLBEAUTY Brands for their focused approach in the ever-evolving fashion landscape. #fashion #retail #dtc #sales #plussizefashion #inclusivity #marketplaces #readytowear #linkedinpostsbymariopace Read more: https://lnkd.in/e_pEijEZ

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WOW! Saks Fifth Avenue's parent company, HSBC, announced a $2.65 billion deal to acquire Neiman Marcus Group, forming a new luxury retail powerhouse named Saks Global. This entity will encompass Saks Fifth Avenue, Neiman Marcus, Saks OFF 5TH, and Bergdorf Goodman. The merger aims to strengthen their position in negotiating with luxury brands amidst industry shifts favoring direct-to-consumer sales. Leadership changes were also unveiled, with Marc Metrick and Ian Putnam taking key roles. The merger is supported by Amazon, which seeks to enhance logistics and e-commerce capabilities for the new entity. Read More Here: https://lnkd.in/eKWQ7MvG CNN Nathaniel Meyersohn Jordan Valinsky Branded Hospitality Ventures #merger #hospitality #saksFifth #Amazon #acquisition Shivi Shankaran Kim Miller Phoebe Johnson Geoffroy van Raemdonck Stefanie Tsen Ward Lana Todorovich Katie Low Anderson John S. Carter John Hinshaw

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👀 Take a closer look at this earring display! 📸 Notice those empty spaces? It's a visual reminder of the importance of effective merchandising. 💼💎 Here are some tips to keep those displays looking full and enticing: 1️⃣ Replace Sold Items Promptly: Encourage your team to restock empty spaces as soon as a product is sold. This ensures that customers always see a fully stocked display. 2️⃣ Backup Inventory: Consider keeping backup inventory pads underneath the display items. This way, replacements are readily available when needed, minimizing downtime. 3️⃣ Assign Responsibilities: Designate specific team members, whether it's the sales team or inventory team, to monitor and manage specific cases or sections. This ensures accountability and keeps the displays organized. 💪💼 Remember, every empty space represents a missed opportunity for a sale. #SalesStrategy #RetailExcellence #MeganTellsAll

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