ABG and Saks top executives on new luxury group: "Necessary for American fashion industry"
The joint interview, led by congress host Steph McGovern, revealed that the collaboration between the two companies had been about 12 years in the making. It took a long time to get everyone at Saks Global on board. Recently, it became clear that collaboration was necessary, not only for the two companies but, according to them, for the US industry as well. 'We had to do it, otherwise there would be no US industry left.'
Salter stated that he had wanted to enter the luxury and premium industry with Authentic Brands Group for some time. 'For years, we were only about distribution, and if you want to enter the luxury industry with your brand portfolio, you also need to have a distribution channel.'
For this, he had his eye on the Saks Global brands (Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue). It was only when it became clear how much the consumer landscape was changing that everyone at Saks realised they could also benefit from the collaboration. Baker said during the event: 'There is 600 million dollars in synergy between our companies'. Buying luxury from Amazon will "feel natural" in five years
The top executives indicated that there is an industry in which too many discounts are given, there are too many suppliers, and there is not enough margin. This is not sustainable in the long term. Within the joint venture between Saks and Authentic Brands Group, hundreds of suppliers are being cut, poorly performing brands are being divested, the company is moving further away from private label, and it is putting premium partnerships in the foreground.
Part of the new partnership is also the link with Amazon. Saks has opened its own online shop within Amazon. Although Amazon is not directly linked to luxury items at the moment, Baker believes that in five years this will 'feel very natural'.
This luxury feel of Authentic Luxury Group is to be enhanced by entering the world of luxury homes and hotels. The execs said that some are already in the making. These residences have an entire Saks look and feel. 'If a building in Bangkok says it is a Saks building, then the US expats immediately know it is a luxury residence.'
After the duo interview at the World Retail Congress, it is clear that the two have big plans for Authentic Luxury Group. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Blog
7 hours ago
- Auto Blog
MIT's Light-Only AI Chip Could Supercharge Electric Vehicles
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Chevy's Toyota Tacoma contender is getting pricier, but 2025 models offer the same powertrain and more value. View post: 2026 Chevrolet Colorado Updates Are Coming—But Should You Buy the 2025 Instead? View post: Amazon Is Selling a 'Secure' $14 Car Phone Holder for 43% Off, and Shoppers Say It's 'By Far One of the Best' The only correct way to modify something as heinous as the XM is to lean into its absurdity. Imagine an EV that doesn't need a bulky cooling system for its brain. Imagine your car processing LiDAR data, high-res camera feeds, and driver monitoring in real time—without sipping a ton of juice from the battery. MIT's new light-only AI chip, which swaps electrons for photons, might just pull this off. This isn't a minor tweak in chip design. It's a potential industry earthquake. The chip runs on photons, meaning it processes data with light instead of electricity. Sounds like sci-fi, right? But the benefits are huge: 90 percent less power consumption, almost no heat generation, and computations that happen at, well, the speed of light. For EVs, which fight tooth and nail for every mile of range, this could be the difference between 300 miles and 350 miles on a single charge. Why This Matters for EVs Every modern EV has a digital nervous system that sucks energy. The AI stack — everything from lane-keeping assist to voice commands — relies on energy-hungry chips like NVIDIA's Drive platform. Even when the car's parked, these processors run diagnostics and software updates, quietly draining the battery. By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. Swap those power-hogging silicon chips with something that barely sips energy? You free up power for the motor, heating, and air conditioning. Suddenly, EVs can be smarter and go further without strapping on a bigger, heavier battery pack. And it's not just about range. The photonic chip's speed could slash latency in autonomous driving. Maybe this is exactly what Tesla's Autopilot needs to work without killing people. Imagine your car spotting a cyclist darting across the road and responding faster than your reflexes. That's not marketing hype — that's rather some life-saving tech. The Autonomous Game-Changer Self-driving cars rely on billions of calculations per second. Traditional GPUs do the job, but they're power-hungry beasts that require liquid cooling and complex thermal management. A photonic AI chip can handle these calculations with barely any heat output, which means lighter systems, lower costs, and fewer points of failure. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Tesla, Waymo, and every other company chasing autonomy would kill for this kind of efficiency. Even if photonic chips start as co-processors — handling vision or sensor fusion — they'll free up traditional CPUs and GPUs to handle the rest with more breathing room. The Catch There's always a catch. These chips are still in the lab, and automotive-grade hardware certification isn't exactly speedy. Cars need chips that can survive scorching heat, freezing temperatures, and years of vibration. Expect a timeline closer to 2027 before you see a production EV using this tech. Still, the writing's on the wall. The next wave of EV innovation won't just be about battery chemistry or charging speed. It'll be about making the brains of the car just as efficient as its brawn. This MIT breakthrough is a reminder that the EV arms race is far from over. Today, it's all about range anxiety. Tomorrow, it will be about how fast your car's AI can think without stealing electrons from the wheels. About the Author Brian Iselin View Profile
Daily Mirror
15 hours ago
- Daily Mirror
Pretty town on the end of Underground route has best of both worlds
The town offers a bit of everything to those who still want to live within easy reach of the capital Buckinghamshire is a popular choice for commuters, with many of its towns serving as homes to those who travel into London for work. The rise of remote working led to a significant migration away from the capital. Despite its name, the London Underground extends well beyond the city limits, serving numerous towns outside London. One such Tube stop brings both tourists and commuters to the charming town of Amersham. It's no surprise that the town, popular with both groups, is frequently recognised as one of the best places to live in the country. A brief tour around the town makes it easy to understand why. But a deeper exploration reveals even more reasons. Nestled in the Chiltern Hills in Buckinghamshire, Amersham is divided into the Old Town and Amersham-on-the-Hill. The Old Town boasts buildings that are 700 years old and, unsurprisingly, a rich history. Expect to see quaint cottages and cobbled streets. It resembles a typical English village, complete with a 13th-century church and an abundance of pubs. Old Amersham also offers boutiques, spas, historical sites and beautiful areas for walks and exploration. Meanwhile, Amersham-on-the-Hill is known for its modernity, featuring a lively high street and the Tube station. While it may not be as picturesque, residents still enjoy tree-lined streets. Property guru Phil Spencer of Move IQ dubbed Amersham one of the top commuter towns for London. However, this charming town doesn't come cheap. The average property in Amersham will set you back £750,000 - making some parts of London seem like a bargain. But the ease of travel from London to Amersham makes it an ideal commuter spot for those Londoners seeking respite from the capital's hustle and bustle. Amersham Underground station falls under Zone 9 on the network. There are 18 stops between Amersham and King's Cross, with the Metropolitan Line terminating at Aldgate. A 55-minute journey on the Metropolitan line will whisk you from Amersham to King's Cross. The service operates twice an hour, with the first train from Amersham to London departing at 5.30am and the last return leaving around midnight. And if you've had your fill of the Tube, you can opt to catch a train to Marylebone which takes a mere 32 minutes. For those driving to Amersham, the M40 will get you there in just an hour.
Wales Online
16 hours ago
- Wales Online
Holidaymakers snap up travel essential that 'makes packing easier' for 25p each
Holidaymakers who are still stuffing or folding clothes directly into a suitcase are missing out on a hassle-free travel trick. Affordable, simple to use and a complete game-changer, now is the perfect time to uncover the transformative power of packing cubes. These lightweight, zippered containers may not look revolutionary, but they are helping travellers to find those all important extra inches in cases, bags and even hand luggage. Available in various sizes, they can be used to keep everything together on the move. With a variety of different types to select from, shoppers can 'bag' an excellent bargain via deal site Wowcher. Currently, new members of TopCashback can earn 100% cashback up to £15 on all online purchases at Wowcher, reducing the price of an 8-Piece Suitcase Compression Packing Cube Set from £16.99 to £1.99. Significantly cheaper than a cup of coffee at the airport, this packing cube set takes the fuss out of packing. Each of the different-sized cubes and containers can be used to separate items by type (think tops, knickers, swimwear etc), by day or even by passenger, making it much easier to find on the go. This travel organiser set includes a variety of different sizes for clothing, a makeup bag, a shoe bag, a flat bag and a drawstring bag that's ideal for efficiently sorting and storing travel essentials. Made from durable twill 290T fabric and PVC, the design features breathable mesh panels that help keep clothes fresh, along with water-resistant properties to protect contents from spills or moisture. Two-way zippers and reinforced stitching offer a little bit of compression to help passengers stuff more in. Ergonomic handles allow for convenient carrying and handling during travel, and the cubes can be used to keep things nice and neat in hotel drawers, dressers and more. Wowcher 8-Piece Packing Cube Set Wowcher 8-Piece Packing Cube Set Sign up to TopCashback to make big savings on this impressive set of packing cubes. £1.99 after cashback TopCashback Buy Now on TopCashback Available in black, grey or beige, the set offers a stylish solution to the age old problem of wanting to take extra bits and bobs "just in case." At £1.99 after cashback these are probably the best value packing cubes money can buy, but there are others out there too. On Amazon, this £10.99 nine-piece packing cube set is a popular choice with savvy travellers. While they are useful for keeping things organised, the Wowcher offering looks better quality with double zippers and water-resistant fabric. For a little more, the Bagsmart Compression Packing Cubes (six-piece set) offers durable construction and impressive compression capabilities. Available for £26, buyers have called them 'a great travel essential' that is 'amazing for organising clothes'. For holidaymakers looking for something a little more luxurious, the Antler Packing Cubes In Coral - Six-Piece Set has been slashed by 30% in the Antler Summer Sale. Priced at £52.50, down from £75, these practical cubes have earned rave reviews from satisfied customers, who describe them as a 'gorgeous added extra' that 'fits more clothes in'. (Image: Wowcher) Branded as 'a secret weapon for stress-free travel', the Wowcher packing cube set for £1.99 after cashback has already been snapped up 52 times by budget-conscious travellers. Whilst no reviews have appeared on the website yet, customers who bought a comparable set from Wowcher awarded it five stars on Trustpilot. One customer commented: "I already have some of these, so was really happy to find more at a really good price. Thanks to Wowcher, my future holiday packing will be so much easier. with the larger bags, you can pack items in them, then just leave them in drawers in your holiday accommodation, no need to unpack fully if it's items like underwear or socks, for example. Then keep a spare one for putting the dirty ones into." Another purchaser remarked: "You had exactly what I wanted with all the info needed, so purchased a small case for the flight and packing bags for the clothes inside, great prices and you can have fast delivery too." While there are no negative reviews at present, some buyers were concerned the postage and packing prices can be high. How to snap up the Wowcher packing cube set for £1.99 To claim the cashback offer, new members of TopCashback need to sign up here. Search for Wowcher and click 'Get Cashback Now'. Shop and checkout as usual. Cashback will then track and appear in your TopCashback account within 7 working days of your purchase. The cashback will become payable (and available to withdraw and spend) after Wowcher has paid TopCashback the commission for your purchase. Delivery costs from £3.59 per voucher and buyers should allow up to eight working days for standard delivery after redeeming.
