Saks Global has presented a new “data-driven” strategy for its men’s fashion offer. At the men’s fashion trade fair Pitti Uomo in Florence, the luxury individual trade group, which includes Saks Fifth Avenue and Neiman Marcus, explained that it wants to use his identified growth opportunities.
One focus is on the development of new customer segments in the luxury men’s modem market. This should be achieved in particular by concentration on emerging trends such as the “evolution of masculinity” and casualization as well as the increasing purchasing power of generation Z and millennials.
The newly created group of Saks Global, which was created by SAKs last year after the Neiman Marcus Group was taken over by Saks, holds a market share of 50 percent in the US luxury men’s modes segment. The group wants to use this basis to open up further growth potential.
Paolo Riva, Chief Brand Partnerships and Buying Officer from Saks Global, underlined these ambitions. He said that the additional potential is created “by a new era of stylish consumers with high demands on quality, craftsmanship and personal expression”.
“Our strategy focuses on maintaining and expanding our customer base and shopping for a new customer segment, while at the same time we continue to meet the needs of our existing customers,” emphasized Riva.
While personal experiences such as the use of stylist: to inspire and advise men’s fashion: should contribute to the inside, the strategy also attaches importance to data and AI. This is part of Saks Global’s more comprehensive vision “The Art of You”, which aims to advance the integration of technology throughout the company.
This article was used with digital tools translated.
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