The US-based Authentic Brands Group has joined forces with Saks Global to create a new luxury platform, Authentic Luxury Group (ALG).
The new joint venture aims to redefine and expand the luxury experience for global customers.
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It is set to house Authentic-owned luxury and accessible luxury brands, including Barneys New York, Judith Leiber Couture and Vince.
ALG plans to act as an incubator for brand growth, using strategic licensing agreements and distribution channels across sectors including retail, fashion, hospitality, digital, art, real estate and travel.
The venture will begin with accelerating the growth of Barneys New York by extending its brands beyond fashion into lifestyle categories, as demonstrated by the recent opening of Barneys New York Residences in Tulum, Mexico.
The venture also aims to showcase prestigious destinations through exclusive real estate partnerships, developing branded luxury residences, condominiums and hotels.
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By GlobalDataAuthentic founder, chairman and CEO Jamie Salter stated: “The creation of ALG represents years of successful collaboration under our initial licensing agreement with Saks for Barneys New York.
“Building on our complementary strengths, ALG will further cultivate our brands by creating a multifaceted environment that reaches a broader audience through a wide range of offerings and experiences. Our shared commitment to excellence and strategic vision positions us at the forefront of modern luxury.”
Saks Global comprises luxury retail brands, featuring Saks Fifth Avenue and Saks OFF 5TH, along with a collection of valuable real estate assets and investment ventures across the US.
In July 2024, HBC announced the creation of Saks Global in relation to its proposed acquisition of Neiman Marcus Group.
The acquisition is pending customary closing conditions, after which Authentic will make a minority investment in Saks Global.
The formation of ALG is contingent upon the finalisation of definitive documentation.
With Authentic’s global licensing expertise and Saks Global’s e-commerce and store fleet, ALG is equipped to offer new access points for luxury brands and experiences to discerning consumers around the world.
