Can Luxury Retail Attract a New Generation of Shoppers?

| January 13, 2020

article image
In spring 2019, Saks Fifth Avenue unveiled a lavish, much-publicized $250 million renovation of its iconic Manhattan store. Meanwhile, Seattle-based luxury retailer Nordstrom which had already staked a claim in New York City with its Nordstrom Rack and Nordstrom Local stores just threw down the gauntlet with its first-ever New York flagship. The new store occupies a full seven floors of the tallest residential building in the western hemisphere, according to CNBC.com, at the posh address of 57th and Broadway. And last March on Manhattan’s West Side, the long-anticipated Hudson Yards complex opened its doors, featuring a veritable parade of designer brand stores such as Chanel, Coach, Dior, Fendi, Louis Vuitton and Tiffany, not to mention Dallas-based luxury retailer Neiman Marcus.

Spotlight

Rue La La

Ready for the most memorable – and stylish – experience of your professional career? Then join us at Rue Gilt Groupe. Combining two complementary brands, Rue La La and Gilt, we are the premier off-price e-commerce portfolio company. Our high-end, flash-sale model has disrupted the retail industry and offers more than 20 million members access to coveted designers. We believe in fashion for all and in inspiring our customers to express their personal style.

OTHER ARTICLES

Square, Xero enhance integration and point-of-sale features

Article | February 14, 2020

If you’re a Xero subscriber using Square, you know how great these two solutions are. We’ve listened to your feedback and are working to make sure they’re even better when combined. Today, we’re delighted to announce we’ve enhanced the Xero-Square integration for Australian users, and we’re working to bring these improvements to other regions soon. You’ll see several new features.

Read More

WeWork To Sell Iconic NYC Building To Amazon

Article | March 12, 2020

Amazon’s New York expansion plans will now include the former Lord & Taylor building in downtown Manhattan, as the eCommerce company announced that it will purchase the storied building from office sharing startup WeWork, according to the New York Post. The price tag on the building, famous for being the former New York hub for the shopping retailer, is in excess of $1 billion. The building’s current owner is WeWork, which has been having a difficult time as of late after a failed IPO and then the need for a bailout from SoftBank later. The building has 12 stories. It was sold to WeWork in 2017 for $850 million on the basis that it would become the WeWork headquarters.

Read More

How Art Van went from a retail juggernaut to a house afire

Article | March 8, 2020

The Warren-based retailer's sudden announcement that it would wind down operations comes only three years after its late founder, Art Van Elslander, sold the company to a Boston-based private equity firm, Thomas H. Lee Partners LP, in an estimated $550 million deal. How did a seemingly healthy, valuable and beloved company go so wrong so fast? After its 2017 acquisition, Thomas H. Lee set an aggressive strategy to open 200 more stores and double revenue to $2 billion by 2020. But being saddled with roughly $400 million in debt and no financial cushion to respond to the disruption of changing furniture habits left Art Van's business model sitting on a tinderbox. Management missteps were all the fuel needed to burn the house down.

Read More

what impact will it have on convenience stores?

Article | March 16, 2020

The Internet of Things (IoT) is not an elegant phrase, but for independent retailers, it is an important one. It refers the way in which computing devices embedded in everyday objects can communicate with each other. In shops, this could mean anything from shelf-edge labels to fridges, to vending machines to security cameras. For cameras, the IoT provides the connections necessary to record, analyse and identify known thieves who might enter your shop. Nick Fisher, chief executive of Facewatch, has high hopes the system could help his company become a major benefit to retailers of all sizes. He says: “Convenience stores are a significant market for us. They have high footfall, a problem with theft and there are not enough police to help stop it.”

Read More

Spotlight

Rue La La

Ready for the most memorable – and stylish – experience of your professional career? Then join us at Rue Gilt Groupe. Combining two complementary brands, Rue La La and Gilt, we are the premier off-price e-commerce portfolio company. Our high-end, flash-sale model has disrupted the retail industry and offers more than 20 million members access to coveted designers. We believe in fashion for all and in inspiring our customers to express their personal style.

Events