Expanding Portfolios and Partnerships in Fashion and Beyond
- Authentic Brands Group and Saks Global partner for a luxury joint venture called Authentic Luxury Group
- ALG to include brands like Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince
- Saks Global encompasses Saks Fifth Avenue, Saks Off 5th, Neiman Marcus, and Bergdorf Goodman
- Joint venture aims to foster brand growth in fashion, retail, hospitality, real estate, and travel
- Authentic acquired Barneys New York’s intellectual property in 2019
- Saks Fifth Avenue named as Barneys’ U.S. and Canada retail partner after acquisition
- Barneys New York Residences opened in Tulum, Mexico
- Authentic Brands Group manages IP for various celebrities and companies
Authentic Brands Group (ABG) and Saks Global have announced a joint venture named Authentic Luxury Group (ALG), which will include brands such as Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince. Saks Global is an entity that comprises Saks Fifth Avenue, Saks Off 5th, Neiman Marcus, and Bergdorf Goodman, pending the finalization of HBC’s takeover of Neiman Marcus Group. ABG plans to make a minority investment in Saks Global. The new venture, ALG, will serve as an incubator for brand growth across various sectors including fashion, retail, hospitality, real estate, and travel. Authentic founder and CEO Jamie Salter sees this partnership as a continuation of their work with Barneys New York, which they acquired during its bankruptcy in 2019. Saks Fifth Avenue was announced as the U.S. and Canada retail partner for Barneys even before the acquisition was finalized. The Barneys brand has a significant presence in Japan, with lifestyle projects like the Barneys New York Residences in Tulum, Mexico. ABG manages intellectual property for numerous celebrities and companies, including Shaquille O’Neal, David Beckham, Sports Illustrated, Brooks Brothers, Aéropostale, Forever 21, Marilyn Monroe, Elvis Presley, and Muhammad Ali.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the joint venture between Authentic Brands Group and Saks Global, the brands involved, and their plans for growth and expansion. It also mentions the background of Barneys New York’s acquisition by Authentic and its presence in various markets. The information is relevant and well-researched without any significant issues with bias or misleading statements.
Noise Level: 3
Noise Justification: The article provides relevant information about the formation of Authentic Luxury Group and its plans for brand growth, including details on the involved companies and brands. It also mentions some notable names under Authentic’s portfolio. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the launch of a joint venture between Authentic Brands Group and Saks Global, which includes several brands such as Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince. This venture will focus on brand growth in fashion, retail, hospitality, real estate, and travel. The partnership involves Authentic making a minority investment in Saks Global, which is related to the acquisition of Barneys intellectual property by Authentic in 2019. While there are financial aspects mentioned, such as investments and acquisitions, there is no direct impact on financial markets or specific companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.
www.retaildive.com