Last week, reports emerged that Barneys New York might again be headed toward bankruptcy. Many observers, including a fellow Forbes contributor, wonder whether the iconic Manhattan-based luxury retailer might be destined for the retail graveyard. I have some history with the brand (aside from having bought a suit there eons ago to look good for post-business-school job … Continue reading Here we go again. Can Barneys survive in luxury’s new world?
It's hard not to be impressed with The RealReal's stock market debut. The luxury reseller raised $300MM in its initial public offering and saw its shares soar nearly 45% before settling in at at a market capitalization of $2.4 billion. Not too shabby. Until very recently the resale market was dominated by decidedly low brow thrift shops along with … Continue reading With the RealReal’s blockbuster IPO is ‘recommerce’ retail’s next big thing?
Last week brought two big pieces of Neiman Marcus news. The day started with the announcement that the company had successfully extended the maturities on some $4.6 billion in debt. Then, a few hours later, Neiman's reported quarterly results, which were concerning. After six consecutive quarters of growth, comparable sales were down 1.5%, and the luxury retailer posted a … Continue reading Neiman Marcus kicks the can down the road. So now what?
Last week Nordstrom, the U.S.-based fashion retailer, announced the launch of a new loyalty program. Despite its rather uninspired name, The Nordy Club is intended to broaden customer engagement while increasing earn rates by 50% for members paying with a Nordstrom credit card. The new program also offers more access to services and personalized offerings. At first … Continue reading Nordstrom ups the ante with new loyalty program
It seems as if those who spend a lot of time worrying about the future of retail have fallen into one of two camps. There are the “retail apocalypse” proselytizers who would have us believe that virtually all shopping will eventually be done online, that most brick-and-mortar stores are doomed and that anyone who says otherwise … Continue reading E-Commerce May Be ‘Only’ 10% Of Retail, But That Doesn’t Tell The Whole Story