What to expect this fashion season as the Menswear fashion season start? One thing is certain, the bygone rules no longer apply. Stores continue to struggle, shoppers pressed against inflation with no end in sight. Heading to Pitti Uomo in Florence, I asked myself “Who is buying this season?” Department stores have aggressively cut costs to the bone in their attempts to lift margins. Big templates are moving to consignment models or platforms for rent models, the retail buyer career is becoming redundant. The conversations will be interesting under the Tuscany Sun.
A recent excerpt from WWD:
WWD reports that Saks Global is emerging from bankruptcy with a significantly different operating model than the traditional luxury department store.
Wholesale will remain the largest part of the business, but Saks is dramatically expanding concession and consignment with more than 350 concession and consignment shops expected across its portfolio. These formats allow brands to retain greater control over inventory, pricing, merchandising, and customer experience while reducing Saks’ inventory risk.
The shift reflects a broader luxury retail trend. Many luxury brands increasingly prefer concession or consignment arrangements because they preserve brand equity and reduce exposure to retailer financial distress. For Saks, the model also helps rebuild vendor trust after its bankruptcy and vendor-payment issues.