Authentic Brand Group, Saks Global launch brand incubator platform
Authentic Brands Group and Saks Global are joining forces to launch a new luxury platform.
The development, marketing and entertainment platform and the luxury retail company have announced a new joint venture, Authentic Luxury Group (ALG). Housing Authentic-owned luxury and accessible luxury brands, including Barneys New York, Judith Leiber Couture, Hervé Léger and Vince, the platform will serve as an incubator for brand growth through new strategic licensing agreements and distribution channels across sectors, including fashion, retail, digital, hospitality, real estate, art and travel.
Barneys New York will be the first brand positioned for accelerated growth under the ALG platform. ALG will also extend its brands beyond fashion and into lifestyle categories, similar to the Barneys New York Residences, which opened in Tulum, Mexico earlier this year. ALG will also showcase prestigious destinations through exclusive real estate partnerships to develop branded luxury residences, condominiums and hotels.
“The creation of ALG represents years of successful collaboration under our initial licensing agreement with Saks for Barneys New York,” said Jamie Salter, founder, chairman and CEO of Authentic. “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.”
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With Authentic’s global licensing abilities and Saks Global’s e-commerce experiences and well-located store fleets, the company’s say that ALG is “well positioned to create a new access point for luxury brands and experiences, catering to discerning consumers worldwide.” The formation of ALG is subject to the finalization of definitive documentation.
“With ALG, we are able to further our efforts to serve the full continuum of luxury consumers,” said Richard Baker, executive chairman of Saks Global. “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. We are proud to further enhance our partnership with Authentic and leverage our collective capabilities to unlock access to new audiences and reimagine the luxury experience.”
