Exclusive: Saks Global Partners with Authentic Brands Group on Luxury Venture [Yahoo! Finance]
ADIDAS AG S/ADR (ADDYY)
NASDAQ:AMEX Investor Relations:
adidas-group.com/en/investors/overview
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Source: Yahoo! Finance
The new venture, called Authentic Luxury Group, will initially focus on Authentic Brands-owned luxury and accessible luxury names including Barneys New York, Judith Leiber Couture, Hervé Léger and Vince. More from WWD The principals of the Authentic Luxury Group touted several ambitious plans and aspirations, such as rolling out Barneys retail locations or in-store shops, adding categories to existing fashion brands in the Authentic Brands portfolio and widening their distribution in the U.S. and abroad, and purchasing brands. Essentially, the new luxury group plans to serve as an incubator for brand growth through strategic licensing agreements and distribution channels across fashion, retail, digital, hospitality, real estate, art and travel, according to the joint venture. “We're creating a luxury version of Authentic Brands that's half owned by Saks Global, half owned by Authentic Brands,” Richard Baker, executive chairman of Saks Global, told WWD. “This will be a new ventu
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