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...
Posted by Mark J. Miller on November 22, 2012 02:02 PM
For close to 80 years now, pretty much every American kid has had a little bit of Babar in their lives. And now the Babar brand is getting a major push so that generations more will learn to love the kindly king of the elephants along with his wife Celeste, the monkey Zephir, and his four children, Pom, Flora, Alexander, and Isabelle, among others.
The first English-language edition of the Babar book series debuted in 1933, two years after it launched in France. Now about $100,000 is being spent on advertising and marketing the elephant to help keep growing the brand, according to the New York Times. The Times calls the campaign is an excellent example of comfort marketing, “which is particularly popular in uncertain economic times.” Those involved in the re-introduction of the brand include Saks Fifth Avenue, Babar publisher Abrams, Manhattan kids bookstore Books of Wonder, and plush-toy manufacturer Yottoy.
“It’s a strategy used regularly in the children’s marketing business, and when it’s well executed it can reinvigorate a property,” said Marty Brochstein, SVP for industry relations and information at the International Licensing Industry Merchandisers’ Association, according to the Times. Brochstein notes two other brands that have gone through the same process are Clifford the Big Red Dog and Thomas the Tank Engine.Continue reading...
Posted by Barry Silverstein on September 17, 2012 02:33 PM
The perceived slump in sales of luxury goods has top fashion brands considering all sorts of strategies to pump up consumer engagement.
Burberry has just transformed its London flagship store into a digitally-enhanced shopping experience that brings to life its Burberry World online store, following on the heels of Audi's flagship Audi City digital retail experience in London. This may be just the beginning of a trend to re-engineer the traditional retail store environment so that it entices and excites consumers who would otherwise choose online shopping.
Indeed, fashion brands are more committed to sales on the retail floor than one might think. Brands including Coach, Crocs, and Tumi are planning to open more stores of their own, but they haven't given up on the department store, either. At last week's Reuters Retail and Consumer Summit, Richard Dickson, CEO of branded businesses at Jones Group, stated that "We believe in the department store. Department stores have done a brilliant job continuing to energize and re-invent themselves in order to stay relevant."Continue reading...
Posted by Dale Buss on March 16, 2012 04:57 PM
Brands must understand that customer service is an important part of the "value equation" for consumers these days even though it might seem that price remains their most important criterion for brand satisfaction because of the continued financial struggles of so many Americans.
Apple, Cadillac, Four Seasons, JetBlue, Kohl's, Saks Fifth Avenue, Scotttrade, USAA and Wegmans are among the brands that understand the importance of people as a driver of service excellence has increased substantially these days, and that's why they were among the 50 brands named this week by J.D. Power & Associates as 2012 Customer Service Champions.Continue reading...
Posted by Shirley Brady on November 25, 2011 05:12 PM
Saks is back with a seasonal 3D holiday projection at its flagship store in New York. The Saks Fifth Avenue Snowflake & the Bubble projection show is bigger and even more spectacular this year. The 3D Projection mapping show runs every night for 5 hours through Jan 6th, making it the longest outdoor video mapping experience in the world. Also new this year: a Fiat 500 — the Gucci special edition — in one of the Christmas windows.Continue reading...
Posted by Shirley Brady on May 24, 2011 09:00 AM
Allstate and other insurers brace for disaster claims.
Amazon finds a fierce bidder in Liberty Media's John Malone.
Armani bucks trend, vows to stay private.
Boys & Girls Clubs of America embrace social media.
British Airways among European airlines impacted by Iceland volcanic ash.
Camel Snus target smoke-restricted NYC.
Coach finds buyers returning to priciest bags.Continue reading...
Posted by Barry Silverstein on March 10, 2011 11:30 AM
Predictions in late 2010 were that luxury brands would see a rebound in 2011. Hallelujah, the forecasters were right.
Current estimates indicate that sales of luxury goods are up as much as 12% from last year, according to retail equity research firm Telsey Advisory Group. That could be one reason the French luxury brand conglomerate LVMH just snapped up Bulgari and has its sights set on Hermes.
"People are willing to pay a premium on something that delivers on luxury," said Milton Pedraza, CEO of the Luxury Institute, to CNN Money. "They will buy fewer but more expensive things. There's a lot more value consciousness."
In fact, it's that value consciousness that seems to be having a weird effect on retailers. Consumers are more likely to buy luxury items at the high end as a special treat, but they also seek out designer brand names in value stores. Interestingly, that means mid-range retailers like JC Penney and Macy's may have a harder time making sales.Continue reading...
Posted by Shirley Brady on December 24, 2010 10:00 AM
Saks jumps on the 3D projection trend with Snowflake and the Bubble, its holiday 2010 theme that wraps its NYC flagship with snowflakes and bubbles after dark. CEO Steve Sadove commented at the holiday lights' unveiling, above, that the underlying theme this year is celebrating diversity. Watch singer Patti LaBelle help kick things off after the jump.Continue reading...