Luxury retailer Saks is reportedly warning its suppliers that it may take some time to get paid. As The Wall Street Journal (WSJ) reported Friday (Feb. 14), Saks issued a memo to its suppliers on Valentine’s Day aiming to reassure them about their unpaid bills. ...
The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of...
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the transaction has expired, the luxury retail companies said in...
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with, fashion industry news source Glossy reported Monday (Aug. 5). “What I don’t understand is how...
October 11, 2024
The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of creating a leading global digital luxury group. This move will […]
January 19, 2023
Lab-grown diamonds are gaining ground with consumers and retailers as sustainability meets luxury online and in-store. If there’s one brand to watch, it’s VRAI (pronounced “vray” meaning “true” in French),...
April 28, 2025
Saks Global Enterprises reportedly told creditors that it has improved its relationships with vendors and built up its inventory since implementing a plan in February to pay past-due balances over the course of a year. The luxury retailer has returned its inventory to levels set in 2023 and currently has about $400 million in liquidity, […]
February 16, 2025
Luxury retailer Saks is reportedly warning its suppliers that it may take some time to get paid. As The Wall Street Journal (WSJ) reported Friday (Feb. 14), Saks issued a...
August 21, 2024
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976...
August 05, 2024
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with,...
