ALG will serve as an incubator for brand growth through new strategic licensing agreements and distribution channels across sectors, including fashion, retail, digital, hospitality, real estate, art and travel. Barneys New York will be the first brand positioned for accelerated growth under the ALG platform.

Housing Authentic-owned luxury and accessible luxury brands, including Barneys New York, Judith Leiber Couture, Hervé Léger and Vince, this innovative venture is centred on the goal of redefining and expanding the modern luxury experience for customers worldwide.

ALG will also extend its brands beyond fashion and into lifestyle categories, similar to the Barneys New York Residences, which opened in Tulum, Mexico earlier this year. ALG will also showcase the world’s most prestigious destinations through exclusive real estate partnerships to develop branded luxury residences, condominiums and hotels, the two entities said in a joint media release.

Jamie Salter, founder, chairman, and chief executive officer (CEO) of Authentic, said, “The creation of ALG represents years of successful collaboration under our initial licensing agreement with Saks for Barneys New York. Building on our complementary strengths, ALG will further cultivate our brands by creating a multifaceted environment that reaches a broader audience through a wide range of offerings and experiences. Our shared commitment to excellence and strategic vision positions us at the forefront of modern luxury.”

Richard Baker, executive chairman of Saks Global, said, "With ALG, we are able to further our efforts to serve the full continuum of luxury consumers. 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. We are proud to further enhance our partnership with Authentic and leverage our collective capabilities to unlock access to new audiences and reimagine the luxury experience.”

With Authentic’s expertise as a global licensing powerhouse, coupled with Saks Global’s elevated e-commerce experiences and well-located store fleets, ALG is well positioned to create a new access point for luxury brands and experiences, catering to discerning consumers worldwide.

Through its focus on innovation and global expansion, ALG aims to generate growth opportunities and create value for its strategic licensing and distribution partners, each of which bring distinctive positioning, loyal followings and significant global potential.

The formation of ALG is subject to the finalisation of definitive documentation. HBC announced the formation of Saks Global in connection with its proposed acquisition of Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman. The acquisition remains subject to customary closing conditions. Following closing, Authentic will make a minority investment in Saks Global.

Fibre2Fashion News Desk (SG)