What: Saks Fifth Avenue has launched its "Main Character Energy" holiday campaign, shot inside its Manhattan flagship, ahead of its holiday windows and light show on November 23.

Why it is important: With Saks reduced from 33 to 15 stores, its Fifth Avenue flagship now carries a much larger share of the business, making this holiday season a direct test of whether Exemplar Luxury Group can turn a leaner balance sheet into renewed customer demand.

Saks Fifth Avenue has launched "Main Character Energy," its 2026 holiday campaign, directed and shot by Nadine Ijewere at its historic Manhattan flagship. The campaign follows a group of friends, played by creative personalities including Ruby Lyn, Stella Jones and George McNally, as they move through the store discovering gifts for family and friends and shopping for themselves, with each floor offering something unexpected.

The flagship will unveil its holiday windows and stage its light show on November 23, presented by Bread Financial, the official payment sponsor of Saks' 2026 holiday season. Six windows will animate a holiday journey through New York City. Saks cancelled the show in 2024 to cut costs before reinstating it last year. Bread Financial will also host events at select Saks stores.

In-store, a holiday market offers decor, gifts, epicure, snow globes and items from around the world, alongside a life-size Santa and dancing penguins. The gift guide spans party outfits, men's holiday dressing, beauty and gifts under $200, and the campaign supports Make-A-Wish.

Saks, Neiman Marcus and Bergdorf Goodman emerged from bankruptcy in June under Exemplar Luxury Group, with new owners and management, a healthier balance sheet and fewer stores.

IADS Notes: The holiday season has now served as a stress test for Saks two years in a row. In November 2025, Saks Global entered the season after acquiring Neiman Marcus, securing $600 million in new financing and cutting costs, with immersive experiences and omnichannel engagement positioned as the levers to restore investor, vendor and customer confidence (WWD, November 2025). The group then exited Chapter 11 as Exemplar Luxury Group, with debt reduced by nearly 75%, new ownership and a streamlined portfolio of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman after multiple store closures. The rebrand also made Saks less central to the group's identity (WWD, June 2026). ELG still carries $1.2 billion in debt, expects $85 million in adjusted EBITDA for 2026 and targets $9 billion in gross merchandise value by 2030. Its recovery therefore depends on commercial execution: making its three banners distinct, restoring newness and exclusives, and securing priority allocations from luxury brands, with holiday trading again cited as a key test of customer perception (WWD, September 2026).

Saks Fifth Avenue's holiday campaign spotlights the Manhattan flagship