What: Competitors like Bloomingdale’s, Mytheresa, and FWRD are aggressively targeting Saks Global’s customers, vendors, and employees amid sector-wide upheaval.

Why it is important:The aggressive strategies of Saks’ rivals reflect a broader trend of innovation and adaptation in response to market volatility and changing consumer sentiment.

The luxury retail sector is experiencing a period of intense competition and transformation as Saks Global’s ongoing restructuring and financial difficulties create opportunities for rivals to capture market share. With Ssense in bankruptcy and Farfetch scaling back, healthier players such as Bloomingdale’s, Mytheresa, and FWRD are actively courting top customers, vendors, and even employees from struggling competitors. These retailers are investing in lavish events, advanced clienteling platforms, and personalised services to build loyalty and differentiate themselves in a crowded market. The battle for talent has intensified, with high-profile executives and stylists moving between major retailers, further fueling the competitive landscape. Meanwhile, the broader economic environment remains challenging, with declining consumer sentiment and a slowdown in high-end spending prompting retailers to adapt their strategies for the holiday season. As product differentiation erodes and vendor relationships become more critical, the ability to innovate and respond to shifting market dynamics is proving essential for survival and growth in luxury retail.

IADS Notes: This season’s fierce competition among luxury retailers is directly linked to Saks Global’s instability, as highlighted in August 2025 (“Ssense files for bankruptcy,” WWD; “Saks Global’s struggle: layoffs, debt and the fight to stay relevant,” Inside Retail) and July 2025 (“Saks is ceding ground to luxury rivals,” BoF), with Bloomingdale’s and Nordstrom gaining ground amid Ssense’s bankruptcy. The sector’s focus on personalized service and talent acquisition, seen in Nordstrom’s VIC initiatives (“Nordstrom’s head of personal shopping knows what VICs want,” Financial Times, July 2025) and executive moves (“Saks Global fills two key store roles,” WWD, November 2025; “Nordstrom creates Director of Luxury Styling role,” WWD, February 2025), demonstrates how innovation and leadership are shaping strategies to navigate economic headwinds and shifting consumer sentiment (“Holiday test looms as luxury brands chase elusive rebound,” Fashion Network, November 2025).

Luxury retailers’ bare-knuckle fight to win the holidays