Under New Owners, Saks Will Expand in Both Directions to Appeal to Wider Retail Audience

Posted by Sheila Shayon on February 3, 2014 11:22 AM

Following the closure of its $2.4 billion acquisition by Canada's Hudson Bay Co., high-end retailer Saks has set out to shake things up across its swath of luxury department stores and outlets. 

Richard Baker, the CEO of Hudson's Bay Company, told the Wall Street Journal that he wants to bring tonier goods to his Saks stores, like $48,000 Louis Vuitton handbags and $2,000 Christian Louboutin sneakers while mussing up its Saks Off 5th outlets to better appeal to bargain shoppers. 

"Our outlet stores look too much like department stores," Baker said. "Nordstrom Rack is a mess, and customers love it."

Baker’s retail empire, valued at $6.7 billion, also includes Lord & Taylor, Canada's Hudson's Bay department stores and Home Outfitters. There are currently 71 Off 5th stores in the US, a number Baker wants to more than double with 20 outlet stores on the drawing board for Canada.Continue reading...


Holiday Windows 2013: Brands Go Bright for Global Sidewalk Displays

Posted by Sheila Shayon on December 23, 2013 05:45 PM

In the twinkling of an eye, retailers transform their windows for the holiday season into stylish and distinct winter wonderlands. From the nostalgic to futuristic, high-tech to old-fashioned, brands around the world invest countless hours and funds into creating a special, visual experience for guests of all ages. 

With Christmas and the New Year quickly approaching, here are a few that have got us in the holiday spirit:Continue reading...


Canada's Hudson's Bay Buys Saks in $2.4 Billion Deal

Posted by Mark J. Miller on July 29, 2013 04:37 PM

After months of sale rumors, 90-year-old retailer Saks has been bought by Canada's Hudson's Bay Company for $2.4 billion. The purchase boosts HBC to 320 retail locations, including 179 full department stores, according to The New York Times. In addition to the existing US retail locations, Hudson's Bay will introduce Saks Fifth Avenue and Off Fifth outlets to the Canadian market.   

Hudson’s Bay, which back in March rebranded itself from 'The Bay' as Target debuted in Canada, is owned by NRDC Equity Partners, which also owns mid-market luxury retailer Lord & Taylor. 

“This exciting portfolio of three iconic brands creates one of North America’s premier fashion retailers,” Richard A. Baker, the Hudson’s Bay Company’s chairman and chief executive, told the Times. “I’ve had a long connection with Saks over the years, and am thrilled to bring one of the world’s most recognized luxury retailers into the HBC family.”Continue reading...

brands under fire

Bangladeshi Garment Execs Vow to Improve Safety Standards

Posted by Sheila Shayon on April 30, 2013 07:12 PM

The death toll from the factory building collapse in Bangladesh could reach as high as 1,400, with at least 900 workers still missing six days after Rana Plaza in Savar crumbled and the owners facing possible prison terms for not protecting the tenants or workers.

The Dhaka collapse is the deadliest to hit Bangladesh's garment industry—worth upwards of $20 billion—but little has changed since last November's Tazreen factory blaze that killed 112 workers despite public outcry and pledges to improve safety standards. 

However, the cumulative effect of such tragedies, which have been magnified through the power of social media and the internet, is forcing major Western retailers such as Britain's Primark, Canada's Loblaw and Spain's Mango to admit involvement and ultimately offer up aid or a solution.

But for every brand that steps up and admits fault, another places blame elsewhere or remains mum. Italy's Benetton acknowledged that their products were made in Rana, but claimed it was a "one-time order," while Walmart has maintained that its third-party supplier was not authorized to outsource manufacturing to the Bangladeshi factory.Continue reading...

brand news

In the News: Google, HSBC, McDonald's and more

Posted by Dale Buss on October 19, 2012 09:02 AM

In the News

Google turns in soft quarter as PR fail pummels stock.

HSBC hit by worldwide cyberattack.

McDonald's profit falls as U.S. growth slows.

Abbott study of kidney drug is halted.

Apple's iPad Mini poised to cannibalize sales.

Lance Armstrong endorsement implosion toll reaches $30 million.

BBC director general to testify on Jimmy Savile scandal, as new head of BBC Worldwide named.Continue reading...

celebrity brandmatch

Celebrity Brand Match: Jay-Z, Mary J. Blige, David Beckham, Tina Fey & more

Posted by Shirley Brady on April 2, 2012 11:55 AM

Rocawear's first ever TV commercial features founder Jay-Z, above. In other celebrity brandcasting today, Burger King's new commercials feature Mary J. Blige, David Beckham, Jay Leno, and Salma Hayek promoting BK's 10 new menu items, its biggest menu expansion since 1954, which debuts today.Continue reading...

social commerce

AmEx Plays "Let's Like a Deal" on Facebook

Posted by Shirley Brady on July 19, 2011 12:01 AM

American Express is offering its Facebook fans and merchant partners a deal — the first of many — they can't resist.

"Link, Like, Love" is not only a new tab on its FB page, but the cornerstone of new deals-based social initiatives that AmEx is unveiling today.

More than 100 participating merchants are on-board at launch, include H&M, Whole Foods Market, Lord & Taylor, Celebrity Cruises, 20th Century Fox, and Outback Steakhouse.Continue reading...


Lord & Taylor Brings Facebook Stories to Life

Posted by Shirley Brady on December 24, 2010 09:00 AM

New York City's retail giants traditionally try to outdo each other with their Christmas window displays, and this year shows a return to pre-recession form.

The Fifth Avenue storefront windows at Lord & Taylor's Manhattan flagship this season features 12 user-submitted unique holiday memories that were submitted on L&T's Facebook page.

The windows were unveiled in a kick-off event starring singer Kristin Chenoweth, above, that was live-streamed on Take a closer look at the windows after the jump.Continue reading...

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