The downturn in discretionary spending in North America has dented the sales of fashion and luxury brands and taken a toll on U.S. department stores. Saks Fifth Avenue is one of several multi-brand retailers that are slashing orders, closing stores and delaying cash payments to fashion and luxury brands for which they act as wholesalers. That is disrupting the whole fashion and luxury retail ecosystem, industry sources have said.
This article is for subscribers only
True journalism, like goldsmithing and embroidery, relies on expertise. Miss Tweed only focuses on proprietary information and analysis. By subscribing, you support a team of journalists who work only for you. Our mission is to bring you reliable and accurate information on the luxury and fashion industry which, in 40 years, has become one of the pillars of the global economy.
Subscribe Login
