Richard Vorisek

Interesting read from Erica La Sala from Beauty Independent related to the Saks and Nieman merger. The question asked: What do you make of the Saks Fifth Avenue/Neiman Marcus deal? How will it impact the luxury beauty market? Will it strengthen the declining department store sector?  According to Cristina Nuñez, "... the department store channel is a challenging one. Historically, it has been the main retail channel for luxury beauty brands given it is more suited for a higher price point. But with continued declines in traffic at department stores, the channel has proven to be a difficult place for luxury brands to rely upon for growth. Instead, growth is being driven at specialty retailers such as SEPHORA and Ulta Beauty, whose dominance has largely been at the expense of department stores". "At the end of the day, consumers will continue to shop for beauty at retailers offering best-in-class in-store experiences optimized for brand discovery. Brands should seek out these partners offering the best brand building support and a path to achieving scale. Perhaps the combination of Saks and Neiman Marcus will allow for a more enhanced retail experience overall that is even better suited for luxury beauty. Time will tell." True Beauty Ventures

38

1 Comment

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

5

1 Comment

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!

6

1 Comment

Hoop hurray! Shall we thank them now, or if this ever gets passed and wriitten rightly into law? Enviornmentally speaking, time is ticking. Urgently, and with every passing hour, more obscenely. It is unbelievable to me that we are knocking the 1.5 degree, and STILL have fashion operating freely? Serious obsenity. Legislation is obscenely negligent in protecting as this entitlement of system is not very speedy. In exception of course to the recent EU passing against greenwashing. This law managed to crawl up the mighty hill of unliklliness and passed unusually quickly. Not so for the whole of the fashion industry, All are accountable today for sustainable shifting. With the scientific news of Earths tipping points tipping… every choice after matters intentiy. We know who, and what is accountably harming. We know. Globally we see. Legislation is past due on acting and protecting. Decades have been lost to government foot dragging. To “the business” of running the industry of economy by “collectively” ignoring the science to keep this “growth” business model flowing. Regardless of the harm we are causing. Now the corals are bleaching. The world is watching. Act urgently and accountably. #Planetfirst is everything. 🌍👁

2

1 Comment

I was quoted in this article on the FTC trying to block the merger between Tapestry and Capri. What I find interesting is that, like me, most of the other people quoted find the ruling incredulous. This includes an executive from a competitor brand, who admitted that while they should be happy about the attempt to block, they actually think the FTC is anachronistic and has no understanding of how the market works. I go further. I think the FTC has become a menace. It is attacking the companies that generate wealth and make the country stronger. It does so under the camouflage of 'protecting consumers' but, in reality, the only thing it's protecting in this instance is its own warped worldview. Thanks to WWD for including my thoughts alongside many other interesting musings... https://lnkd.in/e-qqm_z6 #retail #retailnews #luxury #handbags #FTC #competition

10

1 Comment

🚀 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

4

💎Luxury used to be about exclusivity and a certain "untouchable" air. But times are changing! Gen Z shoppers are redefining luxury, placing a premium on empathy and genuine connection with brands. https://ow.ly/llBQ50RFNZm 📝 The article argues that arrogance is a major turn-off. Luxury brands need to focus on building relationships and understanding customer needs. 🤝 Do you agree? #MeganTellsAll

15

5 Comments

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

17

1 Comment

We are on the lookout for experts in jewelry design and engineering, particularly those with a deep understanding of the tools used in the craft. Learn more about this consulting opportunity: https://lnkd.in/eMYCUpzh Not an expert in this field? Know someone who is a right fit? Pass on the message and get a Referral Commission. #jewelry #engineering #loupes #innovation #management #technology #productivity #gettingthingsdone #businessintelligence #managementconsulting #consultants #business #networking #leadership #hiring #job #research #digitaltransformation #marketresearch #qualitativeresearch #microconsulting #MavenResearch

8

JVBswim is making waves! Our latest feature on The Interline takes you on a journey through JVBswim's commitment to redefining industry standards - integrating traditional practices and innovative methods to produce high-quality, eco-friendly products. Delve into the full article to understand our unwavering commitment to ethical practices and sustainability!

1

Developing a Strong Store Design Strategy 🛒💡 In today’s competitive market, a well-executed store design can make all the difference. Unfortunately, a weak store design strategy can hinder brand recognition and dilute a brand’s personality and DNA. When consumers step into your stores, they should instantly connect with your brand. Here’s why it matters: 1.    Brand Recognition: A strong store design ensures that customers recognize your brand immediately. From the layout to the signage, every element should reflect your brand’s essence. 2.    Advertising Power: Your stores are more than just physical spaces; they’re powerful advertising tools. Each detail—whether it’s the lighting, materials,  displays, or product arrangement—should reinforce your brand message. 3.    Competing Beyond Price: Weak brands often fall into the price competition trap. By investing in a cohesive store design based on your brand positioning, you can differentiate yourself and compete on value rather than price alone. Remember, every millimeter of your store contributes to your brand’s story. Make sure it aligns seamlessly with your brand DNA. 🚀

7

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

38

17 Comments

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

78

The topic of innovation is top of mind in the performance running shoe market – especially if you ask Nike, which has been widely criticized for having a lackluster product pipeline by analysts and the Street in recent months. But for Deckers chief executive officer Dave Powers, this isn’t an issue for its star running brand Hoka. Indeed, on the product front, Hoka is driving growth and consumer acquisition through innovative updates and new introductions across a diverse assortment of footwear. Footwear News Deckers Brands HOKA Nike Dave Powers #running #hoka #runningshoe #earnings #sneakers #nike #marathon

6

The Good Fashion Fund has released its "Lessons Learned during Phase I" report, shedding light on its experiences as an impact fund promoting sustainable practices in the textile and apparel industry. 📝 From bridging the funding gap for new technologies to navigating sustainability challenges, this report offers valuable insights for stakeholders in textile manufacturing, especially in Bangladesh and India.   Some key takeaways from the report:   1️⃣ Importance of technology in driving sustainability 2️⃣ Role of financial actors in supporting manufacturers 3️⃣ Bridging the gap between brand expectations and supplier needs   Download or read more about the report here: https://lnkd.in/edXHkbGe #Sustainability #TextileIndustry #ImpactInvestment #GoodFashionFund #sustainablefashion

19

#GoodFashionFund by FOUNT.eu has released its Lessons Learned during Phase 1 report, and here are our fruitful takeaways from the report: 👔 Manufacturers struggle to invest in new technologies without a proper commitment from brands and they often work for multiple companies with different approaches simultaneously. ⚙️The need for strong, sustained international partnerships to support manufacturers' adoption of new technologies. 🌏The imperative for enhanced collaboration and long-term commitment among diverse stakeholders in the textile industry to drive a sustainable transition on a larger scale Signs for technology solutions to achieve sustainability in the textile industry! Learn more and read the full report below. #Sustainability #TextileIndustry #CleanTech #GoodFashionFund #Textiledyeing

7