Saks Global outlines ‘data-driven' strategy for menswear at Pitti Uomo
Saks Global has outlined a new 'data-driven' strategy for its menswear offering. The luxury retail group, formed of Saks Fifth Avenue and Neiman Marcus, among other department stores, revealed its intention to tap into identified growth opportunities at the ongoing Pitti Uomo 108 in Florence, Italy.
Much of this centres around zoning in on untapped customer segments in the luxury menswear market, particularly through a focus on rising trends like the 'evolution of masculinity' and casualisation, as well as the increased spending power of Gen Z and Millennials.
According to the newly established group, which was formed after Saks acquired its rival Neiman Marcus Group last year, it holds a 50 percent market share in the US luxury menswear sector, which it hopes to leverage as it looks to unlock further growth potential.
It is exactly this that was noted by chief brand partnerships and buying officer, Paolo Riva, who said such potential is being 'fueled by a new era of style-conscious consumers with a deep appreciation for quality, craftsmanship and personal expression'.
Riva added: "Our strategy is focused on cultivating and growing our customer base and merchandising for a new customer segment, while continuing to meet the needs of our established clients."
While in-person experiences, like stylists, will be utilised to both inspire and educate menswear customers, the strategy also puts emphasis on data and AI as part of Saks Global's wider 'The Art of You' vision, aimed at heightening the inclusion of technology across its business.
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