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Authentic and Saks Global Launch Joint Venture, Authentic Luxury Group (ALG)

Author

Slice of Retail Team
October 10, 2024

Key Highlights:

  • Authentic Brands Group (Authentic) and Saks Global partner to form Authentic Luxury Group (ALG).

  • ALG will serve as an incubator for brand growth through new licensing agreements and distribution channels.

  • Barneys New York is positioned for accelerated growth under the ALG platform, with expansion into lifestyle categories.

  • ALG aims to redefine the modern luxury experience through real estate partnerships and exclusive branded residences.

Notable Quotes:

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“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."

Jamie Salter, Founder, Chairman, and CEO at Authentic
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“With ALG, we are able to further our efforts to serve the full continuum of luxury consumers. We always strive to use our platform to give both established and emerging brands greater opportunities to extend their reach in luxury fashion, and this new platform will do just that."

Richard Baker, Executive Chairman at Saks Global

Our Take:

The partnership between Authentic Brands Group and Saks Global to establish the Authentic Luxury Group (ALG) represents a strategic move to redefine the luxury market. By leveraging Authentic's expertise in brand management and Saks' strength in luxury retail, ALG is positioned to bridge traditional luxury with evolving consumer expectations. The focus on expanding beyond fashion into lifestyle categories, particularly through branded real estate like Barneys New York Residences, marks a significant shift towards creating immersive luxury experiences. This initiative is likely to strengthen the presence of its brands globally, appealing to a diverse range of luxury consumers and setting new standards in the industry.