Authentic Brands Group (Authentic) and Saks Global have joined forces to create Authentic Luxury Group (ALG), a joint venture that aims to reshape the luxury market. The partnership combines Authentic's brand development and licensing expertise with Saks Global's retail network, creating a platform designed to expand the reach of luxury brands across multiple industries. ALG will house well-known names such as Barneys New York, Judith Leiber Couture, Hervé Léger and Vince, with plans to grow their presence worldwide.

Positioned as an incubator for brand growth, ALG leverages strategic licensing agreements and distribution channels to expand beyond fashion, including digital, hospitality, real estate and art. Barneys New York will be the first brand to benefit from the ALG platform. The company plans to enhance its retail footprint, including dedicated e-commerce and luxury residential projects like the Barneys New York Residences in Tulum, Mexico.

According to Jamie Salter, Chief Executive Officer of Authentic, the creation of ALG builds on years of successful collaboration with Saks Global. "ALG will cultivate our brands by creating a multifaceted environment that reaches a broader audience through a wide range of offerings and experiences", commented Salter.

This sentiment was echoed by Richard Baker, Executive Chairman of Saks Global, who stated, "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”.

In addition to its fashion brands, ALG will explore new opportunities in luxury real estate and hospitality. Authentic plans to expand Barneys New York Residences and develop other branded luxury properties across the globe, making the luxury lifestyle more accessible to consumers. These initiatives will create experiences that blend fashion with high-end living.

The formation of ALG is still subject to the completion of definitive documentation, as HBC, a parent company of Saks Global, is in the process of acquiring Neiman Marcus Group.