Dive Brief:
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Authentic Brands Group and Saks Global will launch a joint venture dubbed Authentic Luxury Group that includes Barneys New York, Judith Leiber Couture, Hervé Léger and Vince, all brands owned by Authentic.
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Saks Global is an entity formed earlier this year that encompasses Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman, pending finalization of Saks owner HBC’s takeover of Neiman Marcus Group. Authentic plans to make a minority investment in Saks Global, per the companies’ press release Wednesday.
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ALG’s formation is “subject to the finalization of definitive documentation,” the companies said. The new entity will be “an incubator for brand growth,” including not just fashion and retail but also hospitality, real estate, art and travel, they also said.
Dive Insight:
Authentic founder and CEO Jamie Salter bills this new venture as a continuation of the brand management firm’s work with Saks on Barneys New York.
Authentic snapped up the Barneys intellectual property in 2019 during the once-iconic retailer’s bankruptcy. Even before that acquisition was finalized, Saks Fifth Avenue was announced as the retail partner for Barneys in the U.S. and Canada. Many observers see that as the moment when Barneys morphed from an arbiter of edgy designs for young fashionable city dwellers to a brand for hire with global potential.
Barneys remains in focus, with the companies saying Wednesday that “Barneys New York will be the first brand positioned for accelerated growth under the ALG platform.” That includes lifestyle projects like the Barneys New York Residences that opened in Tulum, Mexico, earlier this year. The Barneys New York brand also has a “significant presence in Japan,” per Wednesday’s release.
The firm’s portfolio is wide-ranging: Authentic controls the IP of big names in sports, fashion and popular culture, including Shaquille O’Neal, David Beckham and Sports Illustrated; Brooks Brothers, Aéropostale and Forever 21; and Marilyn Monroe, Elvis Presley and Muhammad Ali.
