Saks Fifth Avenue announced on Tuesday the launch of the Saks Emerging Designer Accelerator Program, focused on leveraging its brand platform and luxury fashion expertise to develop high-potential independent brands.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.
As a member of the pledge, Tapestry will commit to securing the advancement of Black individuals in the fashion and beauty industry and will work with BIFC executive board members over the next three years.