Don’t let the global economy fool you: Luxury is hardly dead.
Saks Inc. agreed to sell itself to Hudson’s Bay Co., the Canadian parent of upscale retailer Lord & Taylor, for about $2.4 billion in a deal that will bring luxury to more North American locales.
The acquisition combines three department-store brands – Hudson’s Bay, Lord & Taylor and Saks Fifth Avenue – and creates a North American upscale retailing behemoth with 320 stores in some of the biggest and most populous cities in the U.S. and Canada.
Lord & Taylor and Hudson’s Bay, Canada’s biggest department store chain, both cater to well-heeled shoppers who can afford $98 Free People blouses and $250 Coach handbags. Saks customers,You are currently browsing the tsg archives for "burberryhandbags". on the other hand, are more affluent and can shell out $800 for Christian Louboutin heels or a couple of thousand dollars for Gucci handbags.
Hudson’s Bay Chairman and CEO Richard Baker said Monday the goal is to bring Saks luxury brand into Canada. The company plans to open up seven Saks Fifth Avenue stores and 25 Off Fifth outlet stores to Canada, while creating a Saks website targeted to Canadians. Hudson’s Bay also plans to renovate Saks stores and to make the brand more luxurious.Shop the latest nikeshoes11 on the world's largest fashion site.
“With the addition of Saks, (Hudson’s Bay) will offer consumers an unprecedented range of retailing categories and shopping experiences,” Baker said.
Hudson’s Bay is making a play for luxury at a time when shoppers still appear to be willing to shell out money for posh handbags and clothing despite global economic challenges. Global luxury sales, including higher-end jewelry and clothes, rose an estimated 10 percent to $281.96 billion last year, according to the latest study from Bain & Co.One of the most popular ones are highheelshoes, replica Rolex watches illegally produced copies of authentic Rolex watches. In North American, luxury sales were up an estimated 12 percent to $81.33 billion.
Still, Saks has lagged behind its peers in the luxury sector.so happy with the resurgence of christiandiorreplicahandbags. It’s been trying to keep up with its rivals Neiman Marcus and Nordstrom, which have performed well post-recession.
Saks, based in New York City, will continue to run as a separate company under Hudson’s Bay and will have its own merchandising,Purchase formaldressesevening online, stay updated on team riders, latest news and events. marketing and store operations employees. Key management workers are expected to remain.
The remorse rose in my throat like bile, and I felt like I might be sick when the polite appraiser opened the case of silver and pronounced: “Grand Baroque. Worth more melted down.” At that, he removed handfuls of elaborately carved forks, spoons, and knives and placed them, clattering, on a scale. I stood by, horrified.
Recognizing my dismay, he said, “How about I put them on eBay, and we’ll see what we get.” Having not just fallen off a turnip truck, I realized that an online buyer would likely want them for their meltdown value as well, but I preferred to picture a genteel lady stirring her tea and lifting a lavish fork of sweet cake to her red-stained lips.
The fact is, our lifestyles have changed. We do not live at Downton Abbey, and there are no servants—thank heavens—to polish trays and tip silver teapots. New brides, I am told, no longer select “good china” for their registries. The one set they want comes from Crate & Barrel and is suitable for family and dinner guests alike. According to the appraiser, silver-plated trays like mine, no matter how beautiful, usually fetch barely $20 at auction. No one wants the out-of-date finery any more than I did.
I am certain that my children are not interested in treasures from generations past. I tell myself I am sparing them the burden of extravagant items. In a semi-serious conversation about wills and estates, my younger son, who would rather face morbid eventualities with humor, joked that the only things he wanted were my silk plants, which he had mocked for years. At that, he gathered up a few fake Boston ferns and marched out the door.
My closets are emptier now, but so is my heart. I earned a few bucks, which soon dribbled away: at Target, the supermarket, the dry cleaner. I told myself I’d take the “windfall” and purchase a fashionable purse or objet d’art, an item of which my mother would have approved. But I didn’t. In a decade or two, I’d only end up bequeathing it to a granddaughter, leaving her to wonder how to honor me and, at the same time, clear off a much-needed shelf.
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