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.
The B2B e-commerce platform has announced that it has raised $45 million in a funding round led by Brighton Park Capital and Imaginary Ventures, the venture capital fund co-founded by Net-A-Porter’s Natalie Massenet.
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.