#USA #New York #Neiman Marcus #Saks Fifth Avenue #luxury menswear

Saks Global's Bold Move into the Future of Luxury Menswear

In a groundbreaking announcement at Pitti Immagine Uomo 108 in Florence, Italy, Saks Global revealed a comprehensive strategy aimed at reshaping the luxury menswear landscape. As the world’s largest multi-brand luxury retailer, their mission is clear: to revolutionize the shopping experience for modern American men.

The initiative, which bridges the offerings at Saks Fifth Avenue and Neiman Marcus, is built on three pillars: leveraging scale, in-depth customer insights, and meticulously curated luxury assortments. This strategic approach provides the company a unique position to tap into new growth avenues in the luxury menswear market, which has seen a significant shift in consumer behavior and preferences.

"At Saks Global, we aim to redefine luxury shopping so that each customer’s experience feels uniquely tailored to them," stated Emily Essner, the President and Chief Commercial Officer of Saks Global. According to Essner, the company’s expansive multi-brand platform, combined with rich customer insights and a refined selection of products, arms Saks Global with the tools necessary to lead the category.

With nearly 50% market share within the American luxury menswear sector, Saks has set its sights on further expanding its influence. The retailer has identified emerging trends such as evolving notions of masculinity and increased spending power among Gen Z and Millennials as vital factors for this growth. The upward trend in casual fashion and the resurgence of interest in men’s fashion also contribute to a favorable market environment.

"The luxury menswear market presents an enormous opportunity for both Neiman Marcus and Saks Fifth Avenue, driven by a new wave of consumers passionate about quality and personal expression," noted Paolo Riva, Chief Brand Partnerships and Buying Officer at the two retailers. Riva emphasized that the strategy focuses on not just keeping their existing clientele satisfied but also expanding their reach to new and diverse customer segments.

Understanding the modern menswear shopper is critical to Saks’s approach. Customers today are looking for versatile, interchangeable pieces that allow for seamless transitions and adaptability in their clothing choices. To support this vision, Saks is enhancing its stylists’ ability to guide consumers toward building a cohesive modern wardrobe, drawing from various luxury categories while dressing them for unexpected moments in life.

This new strategy aligns with Saks Global's overarching vision, aptly named "The Art of You," a commitment to integrating data and AI in order to create an unparalleled luxury shopping experience. By pioneering these methods, Saks Global aims to not only meet but anticipate customers' desires—delivering precisely what they seek at the right moment.

About Saks Global

Saks Global comprises several renowned luxury brands, including Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH. With a focus on high-end shopping experiences, Saks Global combines high-quality service with an expansive catalog of both established and emerging global brands. Using data-driven technologies, the company is dedicated to personalizing the shopping experience, helping customers discover desirable products across various platforms.

In summary, Saks Global is making decisive moves to not only stay ahead of trends in the menswear market but also to redefine what luxury retail can mean in today's world. As new generations of consumers enter the market, the company stands ready and hopeful to welcome them into a fresh era of luxury menswear shopping.