Latest news with #SaksFifthAvenue
Yahoo
11-07-2025
- Entertainment
- Yahoo
Inside Saks's Star-Studded Hamptons Dinner With Sarah Catherine Hook, Brooke Shields, and More
Sarah Catherine Hook is no stranger to encountering an eclectic mix of personalities while traveling—just consider her breakout role in The White Lotus, where her character's dream of spending a year at a Buddhist monastery went out the window the moment she realized she couldn't survive without air conditioning or organic food. So it feels perfectly on-brand that her next role is in Netflix's upcoming adaptation of Emily Henry's bestselling novel The People You Meet on Vacation. But before that, Hook—who stars in the film alongside Jameela Jamil, Lucien Laviscount, and Lukas Gage—is taking some well-deserved time off. Last night, she joined Saks in the Hamptons for a summer dinner filled with art, hosted by global president and CCO Emily Essner at The Watermill Center. Guests were given private access to the new exhibition 'Upside Down Zebra,' created by children ages 3 to 5. 'It's really such a treat to be here at The Watermill Center—it's such a beautiful evening, we're so lucky,' Essner told the crowd once everyone had taken their seats for dinner. 'I hope you all had a moment to experience the exhibition. I was so inspired by the creativity of our children.' She continued, 'It's a really transformative year for Saks Fifth Avenue, for Saks Global. We're so energized by the momentum, so optimistic about what's ahead for us.' The night unfolded with a sunset dinner curated by chef Flynn McGarry, featuring a menu inspired by the artistic styles showcased throughout the museum, from Minimalism to Abstract Expressionism. Guests were encouraged to become artists themselves with each course, using paintbrushes and edible powders to turn their plates into works of art. The night ended fireside with s'mores and cocktails. Other notable attendees included Brooke Shields, Alejandra Alonso Rojas, Ashley Avignone, Elizabeth Kurpis, Evan Ross Katz, Joseph Altuzarra, Katie Lee Biegel, Laura Kim, Leyna Bloom, Serena Goh, SouKeyna Diouf, Tanya Taylor, Tara Rudes Dann, Tinx, Tommy Dorfman, Romilly Newman, and more.$1150.00 at at at at at at You Might Also Like The 15 Best Organic And Clean Shampoos For Any And All Hair Types 100 Gifts That Are $50 Or Under (And Look Way More Expensive Than They Actually Are)
Yahoo
08-07-2025
- Business
- Yahoo
Saks Is Losing Luxury Shoppers in the Wake of Its Neiman Marcus Takeover
Saks Global is going through some growing pains. The parent company of Saks Fifth Avenue bought Neiman Marcus in a $2.7 billion acquisition last year, bringing both department-store behemoths under the same umbrella (along with Bergdorf Goodman). And though the move was meant to unite the luxury titans, the brands have run into some trouble: Consumers are opting to shop at other high-end retailers instead, such as Bloomingdale's and Nordstrom, Bloomberg reported. More from Robb Report This $6.7 Million Ultra-Modern U.K. Home Appeared in the Robert Pattinson Sci-Fi Film 'Mickey 17' Singaporeans Are Splurging Despite a Global Luxury Slump A Modernist Home in Montecito Designed by a Pioneering Architect Just Listed for $18 Million Saks Fifth Ave. saw its sales drop 16 percent year-over-year from the quarter ending June 30, while Neiman Marcus and Bergdorf's combined sales fell 10 percent in the same time period, according to Bloomberg's Second Measure, a spending index that tracks consumers' debit- and credit-card use. June also marked the largest sales drop across the three department stores, according to the data, with Saks seeing a 28 percent decrease in sales and Neiman Marcus and Bergdorf declining by 26 percent. Over at Bloomingdale's and Nordstrom, meanwhile, sales rose over 10 percent at both retailers during the same period. In June specifically, Bloomingdale's sales increased by 13 percent, the Second Measure data says. Bloomberg's spending index does have some limits, though. It tracks more debit purchases that credit card transactions; as a result, the info doesn't paint a complete picture of sales at the retailers, since consumers Saks, Neiman Marcus, and Bergdorf use credit cards more frequently compared to other customers, while Bloomingdale's and Nordstrom shoppers often opt for debit cards. Even so, Second Measure is helpful in tracking trends across different retailers. Part of the reason for Saks Global's troubles, in addition to general economic uncertainty, is an increase in order complaints since January, such as damaged packaging and rejected refunds, according to Mary Ross Gilbert, a Bloomberg analyst that studied customer reviews. This has led consumers to look elsewhere for their luxury goods. On top of that, the conglomerate is dealing with some financial woes, recently taking on more debt, in part, to pay off its overdue bills from vendors, who have slowed or even stopped shipments over fears of a lack of payment, Bloomberg reported. Saks isn't alone in its struggles. A trend of declining sales has been popping up across the luxury industry, thanks to looming tariffs in the U.S. and weakened demand in China, among other challenges. LVMH, for one, was below its estimated sales for Q1 this year, Reuters reported, while Gucci saw its sales drop 25 percent in the first three months of 2025, according to Vogue Business. This year's figures come on top of declining numbers at the end of 2024, with Kering (Gucci's parent company), seeing a year-over-year drop of 12 percent. As for Saks Global, things may be on the up and up. For one, the brand's new storefront has been met positively, a spokesperson for the company told Bloomberg. And shipments from vendors are increasing, too, in the wake of new financing, something that Saks says will 'continue as we execute on our plan to begin paying outstanding balances in July,' the spokesperson told the publication. Making those vendors happy will be a key step to putting the retailer back on the right track. Click here to read the full article.
Yahoo
08-07-2025
- Business
- Yahoo
Saks Is Losing Luxury Shoppers in the Wake of Its Neiman Marcus Takeover
Saks Global is going through some growing pains. The parent company of Saks Fifth Avenue bought Neiman Marcus in a $2.7 billion acquisition last year, bringing both department-store behemoths under the same umbrella (along with Bergdorf Goodman). And though the move was meant to unite the luxury titans, the brands have run into some trouble: Consumers are opting to shop at other high-end retailers instead, such as Bloomingdale's and Nordstrom, Bloomberg reported. More from Robb Report This $6.7 Million Ultra-Modern U.K. Home Appeared in the Robert Pattinson Sci-Fi Film 'Mickey 17' Singaporeans Are Splurging Despite a Global Luxury Slump A Modernist Home in Montecito Designed by a Pioneering Architect Just Listed for $18 Million Saks Fifth Ave. saw its sales drop 16 percent year-over-year from the quarter ending June 30, while Neiman Marcus and Bergdorf's combined sales fell 10 percent in the same time period, according to Bloomberg's Second Measure, a spending index that tracks consumers' debit- and credit-card use. June also marked the largest sales drop across the three department stores, according to the data, with Saks seeing a 28 percent decrease in sales and Neiman Marcus and Bergdorf declining by 26 percent. Over at Bloomingdale's and Nordstrom, meanwhile, sales rose over 10 percent at both retailers during the same period. In June specifically, Bloomingdale's sales increased by 13 percent, the Second Measure data says. Bloomberg's spending index does have some limits, though. It tracks more debit purchases that credit card transactions; as a result, the info doesn't paint a complete picture of sales at the retailers, since consumers Saks, Neiman Marcus, and Bergdorf use credit cards more frequently compared to other customers, while Bloomingdale's and Nordstrom shoppers often opt for debit cards. Even so, Second Measure is helpful in tracking trends across different retailers. Part of the reason for Saks Global's troubles, in addition to general economic uncertainty, is an increase in order complaints since January, such as damaged packaging and rejected refunds, according to Mary Ross Gilbert, a Bloomberg analyst that studied customer reviews. This has led consumers to look elsewhere for their luxury goods. On top of that, the conglomerate is dealing with some financial woes, recently taking on more debt, in part, to pay off its overdue bills from vendors, who have slowed or even stopped shipments over fears of a lack of payment, Bloomberg reported. Saks isn't alone in its struggles. A trend of declining sales has been popping up across the luxury industry, thanks to looming tariffs in the U.S. and weakened demand in China, among other challenges. LVMH, for one, was below its estimated sales for Q1 this year, Reuters reported, while Gucci saw its sales drop 25 percent in the first three months of 2025, according to Vogue Business. This year's figures come on top of declining numbers at the end of 2024, with Kering (Gucci's parent company), seeing a year-over-year drop of 12 percent. As for Saks Global, things may be on the up and up. For one, the brand's new storefront has been met positively, a spokesperson for the company told Bloomberg. And shipments from vendors are increasing, too, in the wake of new financing, something that Saks says will 'continue as we execute on our plan to begin paying outstanding balances in July,' the spokesperson told the publication. Making those vendors happy will be a key step to putting the retailer back on the right track. Click here to read the full article. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
07-07-2025
- Business
- Bloomberg
Saks Is Ceding Ground to Luxury Rivals After Buying Neiman Marcus
The $2.7 billion acquisition of Neiman Marcus by Saks Fifth Avenue's owner last year was supposed to create a luxury powerhouse. Instead, both department stores are losing customers and sales to competitors including Bloomingdale's and Nordstrom. Sales at Saks Fifth Avenue fell 16% during the quarter that ended in June from a year earlier, according to Bloomberg Second Measure, which tracks debit and credit purchases. During the same period, combined sales at Neiman Marcus and Bergdorf Goodman sank 10%. The slowdown accelerated over the three months, with June showing the biggest drop at the three retailers.
India Today
01-07-2025
- Business
- India Today
Estée Lauder began in a restaurant kitchen and built brands like MAC and Clinique
Under the dim glow of a humble converted restaurant kitchen in Manhattan, New York, a young Estee Lauder stirred creams over a stove late into the night. It was the early 1940s. She and her husband Joseph Lauder had just founded their cosmetics business -- and this kitchen was their entire before her name became synonymous with luxury beauty, the duo hand-mixed each batch, poured passion into every jar, and then labelled and boxed each jar themselves. By dawn, Estee was off to department-store counters, ferrying these overnight creations in a 1944, American luxury department store Saks Fifth Avenue placed their first order -- $800 worth of products that sold out in just two days, a triumph that hinged entirely on those small-batch kitchen creations. In 1945, Estee and Joseph would go on to officially found Estee Lauder Inc., with that converted kitchen as their first SCIENCE MET SALESBorn Josephine Esther Mentzer to Jewish immigrants in Queens on July 1, 1908, she grew up amid disorderly shelves of nuts and bolts in her family's hardware store, learning business acumen early she learned to arrange displays neatly and wrap hammers as gifts at Christmas. These were lessons in presentation that would later define her brand aesthetic. Estee and Joseph Lauder at a fine arts festival at Mar-A-Lago (1970) (Photo: Wikimedia Commons) advertisementAs a teen, her cosmetics classroom was the stable-turned-lab behind their home. There, her uncle, Dr John Schotz, a Hungarian chemist, crafted creams with her taught Estee the chemistry behind creams, launching her lifelong fascination with SCHOOL MAKEOVERS TO SALON SELL-INSAt Newton High School, Estee wasn't merely a student -- she was a budding entrepreneur. Friends received 'complete makeovers' to prove the magic of her uncle's formula. Estee observed carefully, colourful jars in started blending small batches. Soon she was selling Super Rich AllPurpose Cream, Six-in-One Cold Cream and more to salons, beach clubs and day at the House of Ash Blondes salon, the owner noticed her flawless skin. Estee returned with four jars the next day -- and landed her first outside MAKEUP, HEARTBREAK, REUNIONShe married Joseph Lauter (later Lauder) in 1930, and in 1933 they welcomed son Leonard. Even after motherhood, she spent daylight hours selling, nights refining her creams on the partnership blended life and enterprise: Estee refined formulas by the kitchen stove while Joseph managed logistics. (AI-generated image) A divorce in 1939 sent her to Miami Beach where she carried on when her son took ill around that time, she ended up finding love once more with Joseph. They reunited and remarried in 1942 -- recommitting not only to each other, but to their shared GIFT-WITH-PURCHASE TO THE SAKS BREAKTHROUGHBy the 1940s, Estee was staging live demos in salons, college lounges, even department- store elevators, guided by a motto she lived: 'Telephone, telegraph, tell-a-woman.'The Lauder duo understood that a beauty product needed to be experienced. Ad agencies dismissed them, so they used their US$50,000 ad budget for free samples and 'gifts with purchase.'The year 1944 marked a turning point. Estee secured an order from Saks Fifth Avenue -- and sold out in just two by this success, she and Joseph officially incorporated Estee Lauder Inc. in 1946. Even then, production stayed in that converted restaurant kitchen -- night after night of simmering creams fuelling her vision. Estee and Joseph Lauder at a Red Cross Ball at The Breakers in Palm Beach (1971) (Photo: Wikimedia Commons) advertisementYOUTH DEW AND PERSONAL BRANDINGIn 1953, Estee introduced Youth Dew, a bath oil that doubled as an affordable perfume. Priced at $8.50, it offered accessible glamour. It was poured it into their baths -- and ordered 50,000 bottles in that first year. Within a decade, Youth Dew made up 80% of company sales, driving Forbes-worthy flair wasn't just in chemistry -- it was in sensing that women wanted indulgence that didn't break the also understood image. She styled herself as the archetype of grace, wore couture, and turned product demos into theatre -- spraying YouthDew at launch events or even spilling it in Paris department stores to stir pioneered the 'free sample' and 'gift-with-purchase' marketing techniques which are now standard in beauty retail. These moves weren't just gimmicks, but built on her brand ethos. (AI-generated image) advertisementA WOMAN, A FAMILY, A GLOBAL EMPIREIn 1958, Este's son Leonard Lauder formally joined the family business. He was just 25 then, but sharp-eyed and business-savvy -- much like his mother. Under his leadership, what began as a kitchen-born dream grew into a global powerhouse that would help shape the future of global company went public in 1995, a move Leonard masterminded. Valued around US$2 billion, it turned the family name into a Wall Street then, Estee Lauder was already a growing constellation. In 1964, they'd launched Aramis, one of the first prestige men's grooming lines. In 1968, came Clinique, a skincare line developed by dermatologists and marketed as allergy-tested, fragrance-free, and rooted in science -- a radical move at the the 1990s, the company acquired and grew brands like MAC Cosmetics, La Mer, Bobbi Brown, Aveda, and Jo Malone London. In 2006, it helped launch Tom Ford Beauty, and by 2022, it owned the Tom Ford brand outright. Estee Lauder during the inauguration of one of her stores (October 1989 in Hungary) (Photo: AFP) advertisementEstee's reach had already crossed oceans long before going public with the company. By the early 1970s, her creams and perfumes were sold in more than 70 countries, from Harrods in London to Galeries Lafayette in had started with five employees and US$850,000 in earnings in 1958, ballooned into a 1,000-person company generating over US$100 million by MATRIARCH'S LEGACY AND FINAL CURTAINEstee herself remained a fierce creative force through it all. She continued to mentor and test, refine and dream. She showed up at counters whenever a new store opened, personally handing out samples well into her later years. And she wasn't the only woman shaping the brand's wife, Evelyn Lauder, made her own global mark. It was Evelyn who co-created the iconic pink ribbon -- now recognised around the world as the symbol of breast cancer awareness -- and helped raise millions for cancer passed away in 1983 -- she honoured him by establishing a management institute. On April 24, 2004, when Estee Lauder died of cardiopulmonary arrest at around the age of 97 in New York, the tributes poured in. Estee Lauder (L) meeting the Princess of Great Britain before attending the London Festival Ballet's performance of Romeo and Juliet. (July 25, 1989, in New York City) (Photo: AFP) She had been awarded the Presidential Medal of Freedom and France's Legion of Honour. But perhaps her real honour was how she transformed the beauty sons Leonard and Ronald -- and later her grandchildren -- kept the family vision alive within the powerhouse she built. What began as artisanal creams simmered in a kitchen became a billion-dollar genius lay not just in formulas, but in her belief that luxury could be personal, accessible, and showed the world that high-end brands could start in humble places, bloom from formula to fragrance, and thrive on passion more than polish.- Ends
