Licensing specialist Authentic Brands Group is partnering with Saks Global to form Authentic Luxury Group (ALG), a joint venture that aims to grow Authentic’s high-end brands through strategic licensing and distribution agreements.
Authentic controls the licenses for Barneys New York, Judith Leiber Couture, Hervé Léger, and Vince. Saks Global comprises Saks Fifth Avenue and Saks Off 5th and has announced plans to merge with Neiman Marcus Group, owner of Neiman Marcus and Berdgorf Goodman.
The joint venture will first focus on Barneys New York, which has had a licensing deal with Saks since 2021. ALG aims to extend brands beyond fashion and into lifestyle categories, similar to the Barneys New York Residences that opened in Tulum, Mexico, this year, and to develop other luxury-branded luxury residences, in addition to condominiums and hotels.
“[At Saks] 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,” Richard Baker, executive chairman of Saks Global, said in a statement.
The creation of ALG is subject to final documentation. After the group is formed, Authentic will make a minority investment in Saks Global.
(Photo courtesy of Saks)
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