Authentic Brands Group has partnered with Saks Global, the owner of Saks Fifth Avenue, to establish a new joint venture called Authentic Luxury Group (ALG).
- This strategic collaboration aims to offer accessible luxury brands worldwide, expanding into lifestyle and property sectors.
- Key brands under ALG include Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince.
- The venture plans to accelerate brand growth through licensing and distribution, emphasising fashion, retail, and hospitality.
- The formation of ALG is seen as a significant move to maximise brand potential across various sectors.
Authentic Brands Group, a reputable name in brand development, has joined forces with Saks Global, renowned for owning Saks Fifth Avenue, to create a new luxury entity named Authentic Luxury Group (ALG). The primary objective of this collaboration is to offer accessible luxury brands across the globe while simultaneously branching out into lifestyle and real estate segments.
The brands included under the ALG umbrella comprise Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince. This venture is strategically positioned to optimise these brands not only within the fashion industry but also across digital, hospitality, art, and travel sectors.
A notable aspect of ALG’s expansion strategy involves forming licensing agreements and setting up distribution channels. Barneys New York is highlighted as the initial focus for accelerated growth, as evidenced by its ventures into lifestyle creations such as the Barneys New York Residences in Tulum, Mexico, and innovative retail spaces like a New York pop-up combining art and fashion.
Jamie Salter, the founder and CEO of Authentic, remarked on the substantial groundwork laid by the successful licensing agreements with Saks for Barneys New York. Salter emphasised that ALG is poised to broaden the audience reach by delivering diverse offerings and experiences, moving beyond traditional retail.
Final agreements for establishing ALG are anticipated shortly, marking a pivotal step in the initiative to elevate the mentioned brands across numerous sectors, thus reinforcing their market presence.
The Authentic and Saks Global partnership signifies a strategic advancement in luxury branding, poised for expansive growth and innovation.
