What: The number of DEI roles in corporate America has declined, but the underlying work and expertise are being integrated into other organisational functions.

Why it is important: The integration of DEI expertise into HR and other functions supports talent retention and business performance, aligning with recent findings on employee satisfaction.

The landscape for diversity, equity, and inclusion roles in corporate America, particularly within retail, has shifted dramatically over recent years. While the number of dedicated DEI positions peaked in 2022 and has since declined, the expertise and principles developed in these roles are not disappearing. Instead, they are being redirected into core business functions such as HR, public affairs, and marketing. This transition is largely a response to increased political, legal, and stakeholder scrutiny, prompting companies to rebrand or adapt their inclusion strategies. Despite the reduction in explicit DEI roles, research shows that embedding inclusion into broader organisational practices continues to yield positive outcomes, including higher employee satisfaction and improved workplace culture. Companies that maintain authentic inclusion commitments, even without the DEI label, are better positioned to attract and retain talent, drive innovation, and sustain business performance. The evolution of DEI in retail demonstrates that while terminology and structures may change, the underlying imperative for equitable and inclusive workplaces remains strong.

IADS Notes: Since late 2024, the retail industry has seen a significant transformation in its approach to DEI, as detailed in "The future of work: what went wrong with DEI and how to move forward?" (Vogue Business, March 2025), "1 in 5 companies say they’ve slashed DEI since Trump’s election" (ESG Dive, July 2025), and "The demonisation of DEI" (From Day One, January 2025). Walmart and Amazon led strategic pivots by maintaining inclusion practices while removing explicit DEI language, a move validated by strong market performance and contrasted by Target’s $10 billion valuation loss following DEI controversies in early 2025. The emergence of the FAIR framework and the continued commitment of luxury brands highlight the sector’s shift toward integrated, measurable inclusion strategies. Recent studies confirm that companies maintaining authentic DEI commitments are better positioned for talent retention and business success, even as explicit roles and terminology evolve (Catalyst/NYU, June 2025; Forbes, April 2025; ESG Dive, May 2025).

3 charts that show what has happened to DEI roles — and DEI pros

What: La Samaritaine was fined €100,000 for installing hidden cameras with audio recording in staff areas, violating GDPR requirements.

Why it is important: This enforcement action highlights the growing regulatory scrutiny on privacy compliance in retail, reinforcing the need for transparent security practices.

La Samaritaine, the Parisian department store owned by LVMH, has been fined €100,000 by the CNIL for covertly installing cameras disguised as smoke detectors in its staff storage areas. These devices, which also recorded audio, were introduced in August 2023 in response to a rise in theft but were discovered and removed by employees within weeks. The CNIL found multiple breaches of the GDPR, noting that surveillance of employees must be visible and justified, and that any exceptional use of hidden cameras requires a documented analysis of compliance and necessity. In this case, La Samaritaine failed to conduct a prior GDPR assessment or properly document the temporary nature of the installation, and the data protection officer was only informed weeks after deployment. The CNIL also deemed the audio recording of staff excessive. This incident highlights the complex balance retailers must strike between loss prevention and respecting employee privacy, especially as regulatory oversight intensifies.

IADS Notes: The sanction against La Samaritaine reflects a broader industry trend, as seen in January 2025 (“Why organisations should prioritise employee data protection to combat spear phishing,” IAPP), where prioritising employee data protection became critical in retail due to rising cyber threats. The adoption of advanced surveillance technologies, noted in June 2025 (“The high-tech fight against shoplifters,” Financial Times), is a common response to theft but often raises privacy and compliance challenges. April 2025 research (“Federal shake-ups, corporate wake-ups: how to rebuild employee trust in 2025,” ERE Media) shows that covert monitoring erodes employee trust, while regulatory bodies like the CNIL are increasingly shaping acceptable security practices through significant enforcement actions, as reported in July 2025 (“Shein fined €40m for deceptive pricing in France,” Fashion Network) and June 2025 (“The reality of retail cybersecurity: Why resilience is the new competitive edge,” Inside Retail).

La Samaritaine fined €100,000 for installing hidden cameras

What: Westfield has launched Allders Parade, transforming a former historic department store into a new mixed-use retail destination.

Why it is important: Westfield’s strategy demonstrates how property owners can revitalise legacy spaces to attract modern consumers and drive foot traffic.

Westfield’s unveiling of Allders Parade in a former historic department store marks a significant evolution in retail property strategy, showcasing the adaptive reuse of legacy spaces to meet contemporary demands. The initiative transforms the traditional department store format into a vibrant mixed-use destination, blending retail, experiential offerings, and community engagement. This approach is emblematic of a wider industry trend, where property owners are reimagining underutilised or iconic sites to create environments that resonate with today’s consumers, who increasingly seek experiences alongside shopping. By integrating innovative concepts and prioritising customer interaction, Westfield positions itself at the forefront of retail transformation, ensuring resilience amid shifting market dynamics. The project not only preserves the architectural heritage of the site but also injects new commercial and social value, reinforcing the importance of strategic reinvention in sustaining foot traffic and relevance in a competitive landscape. This move underscores the necessity for retail destinations to evolve, blending tradition with innovation to secure long-term success.

IADS Notes: Westfield’s launch of Allders Parade in a former historic department store exemplifies the adaptive reuse trend shaping retail, echoing the transformation of Jenner’s department store into a mixed-use concept focused on community and innovation (WWD, October 2024). This strategy aligns with the sector’s broader shift toward experiential retail and heritage preservation, as successful department stores invest in modernisation and customer engagement to remain relevant (The Retail Bulletin, April 2025). The move also reflects the industry’s response to the retreat from traditional downtown flagships, where high real estate values and changing consumer behaviours have prompted creative mixed-use redevelopments (The Robin Report, March 2025). Westfield’s initiative is part of a wider surge in experiential retail, with landlords converting traditional spaces into interactive venues to attract younger consumers and boost foot traffic (Los Angeles Times, March 2025). The effectiveness of this approach is underscored by Westfield’s resilient performance and successful expansion, demonstrating the value of combining traditional retail with innovative, experience-driven strategies (Fashion Network, April 2025).

Westfield launches Allders Parade in former historic department store

What: Printemps renews its collaboration with ESMOD, supporting young talent through an exhibition, award, and co-branded product development.

Why it is important: This collaboration reflects a growing trend of department stores leveraging partnerships with emerging designers to drive innovation and refresh their in-house labels.

Printemps has reaffirmed its commitment to emerging fashion talent by renewing its partnership with ESMOD International for a second year, focusing this edition on the creative potential of the bag. The collaboration features an exhibition of ten student prototypes, selected by a Printemps jury, and highlights the forward-thinking vision of the next generation of designers. The winning creation by Roméo Gandon-Cattier, a Bachelor’s student specializing in accessories, stood out for its poetic simplicity, technical precision, and authentic storytelling, drawing inspiration from personal heritage and craftsmanship. Printemps will further support the winner by adapting the prototype into a co-branded piece for its Saison 1865 Spring-Summer 2026 collection, ensuring commercial viability while preserving creative integrity. This initiative not only nurtures new talent but also integrates their work into the retailer’s core offer, reflecting a broader industry movement toward collaboration, innovation, and the alignment of creativity with brand DNA. The partnership underscores the importance of storytelling, sustainability, and authenticity in contemporary retail, positioning Printemps at the forefront of experiential and responsible fashion.

IADS Notes: The renewed Printemps x ESMOD partnership exemplifies the evolving role of department stores as incubators for creative talent, echoing Galeries Lafayette’s long-term collaborations with emerging designers (“Marine Serre takes over Galeries Lafayette Haussmann’s windows,” Feb 2025; “Galeries Lafayette to highlight African fashion,” Mar 2025) and Printemps’ own heritage showcases (“Printemps Haussmann showcases its historic design studio's creations,” Jan 2025). The integration of student designs into commercial collections mirrors strategies at Le Bon Marché (“Le Bon Marché rethinks its private label,” Dec 2024) and 10 Corso Como (“10 Corso Como opens in Paris at Printemps,” Nov 2024), as well as Breuninger’s art-fashion collaborations (May 2025). The focus on sustainability and narrative aligns with recent initiatives at Fortnum & Mason (“Fortnum & Mason’s recycled materials window display,” Sep 2025), Galeries Lafayette (“Galeries Lafayette launches a new CSR strategy,” Apr 2025), and Maison Margiela (“Maison Margiela enters fashion’s culture race with line of ‘Intangible Products’,” Aug 2025).

Printemps and ESMOD deepen their partnership

What: Hyundai Department Store partners with Thailand’s Siam Piwat Group to curate and launch Thai beauty and lifestyle brands in Korea, targeting younger, value-driven consumers.

Why it is important: Hyundai’s collaboration with Siam Piwat reflects a broader industry trend of using strategic partnerships and curated retail to diversify assortments and attract younger, value-driven shoppers.

Hyundai Department Store has teamed up with Siam Piwat Group, Thailand’s leading retail operator, to introduce select Thai beauty and lifestyle brands to Korean consumers. The collaboration brings flagship products from Maison Craft, GLA, and Herbs&Minerals to Hyundai’s HBYH and B.CLEAN select shops, including at The Hyundai Seoul and Pangyo branches. The initiative is designed to offer Korean shoppers a fresh, differentiated experience while giving Thai brands a platform to enter the Korean market. The curation reflects the rising demand among Korean consumers in their 20s and 30s for brands with strong stories, individuality, and a focus on sustainability. This partnership builds on a 2024 strategic agreement between Hyundai and Siam Piwat to share retail know-how and drive innovation, and it exemplifies the growing trend of intra-Asian retail synergy, experiential select shops, and cross-border brand curation as key drivers of retail evolution in the region.

IADS Notes: Hyundai Department Store’s collaboration with Siam Piwat Group to introduce Thai brands to Korea exemplifies a broader trend of cross-border brand curation and intra-Asian retail partnerships. As reported by Korea JoongAng Daily in September 2025, Hyundai has accelerated its international expansion through pop-ups and select shop formats, leveraging partnerships with leading Asian retailers like Parco and Siam Piwat to bring curated, story-driven brands to new markets. The Chosun Daily in June 2025 and Inside Retail in January 2025 highlighted Hyundai’s focus on experiential retail and value-driven assortments, targeting younger consumers who prioritise individuality and sustainability. Maeil Business Newspaper in July 2025 and The Korea Herald in October 2024 noted the growing importance of cultural storytelling and consumer trends among 20- and 30-somethings, prompting department stores to innovate and diversify their offerings. Bangkok Post in July 2025 and Fashion United in August 2025 described the rise of intra-Asian retail synergy, with Hyundai and peers like Shinsegae and The Mall Group leveraging partnerships to expand market reach and adapt to regional competition. Finally, Maeil Business Newspaper in January 2025 and Inside Retail in May 2025 provided context on stagnating domestic growth and the need for Korean department stores to pursue innovation, digital engagement, and cross-border strategies to sustain momentum.

Hyundai Department Store brings Thai Siam Piwat brands to Korea

What: Amazon’s exit from the UK Fresh grocery market underscores the difficulties digital-native brands face when expanding into established retail sectors.

Why it is important: This development demonstrates that even global leaders must adapt to local market dynamics and established competition, as seen in recent retail industry analyses.

Amazon’s decision to close its Fresh grocery convenience stores in the UK reveals the formidable barriers that even the world’s most powerful e-commerce players encounter when entering mature and highly competitive markets. Despite Amazon’s vast resources and technological prowess, the company struggled to gain traction against entrenched local grocers and adapt to the nuanced preferences of British consumers. The closure signals a broader industry reality: digital-native strategies alone are insufficient for success in traditional retail environments, where operational excellence, local expertise, and integration with existing retail ecosystems are crucial. Amazon’s pivot away from physical grocery retail in the UK is not an isolated event but part of a wider pattern, as seen in the recent failures of standalone marketplace models and the ongoing transformation of physical retail assets into logistics hubs. This episode serves as a cautionary tale for other digital-first brands seeking to expand into brick-and-mortar formats, emphasising the need for adaptability and deep market understanding to compete effectively in established sectors.

IADS Notes: Amazon’s withdrawal from UK grocery retail, despite a £40 billion investment in fulfilment centres as of June 2025 (Amazon to open four new UK fulfilment centres, Press Release), reflects the challenges of competing with established local players and shifting consumer expectations. The closure of standalone marketplaces like MyDeal in July 2025 (What the closure of MyDeal signals about the future of marketplaces in Australia, Inside Retail) further illustrates the risks of entering mature markets without strong integration. Amazon’s strategy of converting retail spaces into distribution centres, reported in February 2025 (Why Amazon and Walmart suddenly like malls, PYMNTS), highlights a pivot toward omnichannel logistics. Meanwhile, the continued relevance of well-run department stores, noted in July 2025 (Despite the demise of many department stores, the format remains relevant today, Retail Week), underscores the importance of operational excellence and local expertise for success in physical retail.

Amazon is closing its Fresh grocery convenience stores in the UK

What: The explosive growth of AI-driven shopping via chatbots is outpacing retailers’ ability to adapt, creating both risks and opportunities in the retail sector.

Why it is important: This shift is significant because it mirrors recent findings that AI adoption in retail is accelerating, with brands needing to quickly adapt their strategies to remain competitive.

AI chatbots such as ChatGPT are poised to reshape the retail industry, with adoption rates and consumer engagement growing at an unprecedented pace. While only a small percentage of current ChatGPT queries are shopping-related, the rapid increase in usage—especially among younger consumers—signals a coming transformation in how people research and purchase products online. Despite this momentum, most retailers and brands remain unprepared, focusing more on internal AI applications than on how to attract consumers through these new channels. The evolving landscape demands that brands and retailers experiment with new strategies to ensure their products are discoverable and relevant in AI-driven environments. As chatbots become more capable and integrated into the shopping journey, the gap between consumer behavior and retailer readiness presents both significant risks and opportunities. Those who adapt quickly stand to benefit, while those who rely on traditional digital marketing playbooks risk being left behind.

IADS Notes: OpenAI’s plans to integrate checkout functionality within ChatGPT, as reported by Modern Retail in August–September 2025, mark a pivotal shift from research to direct transactions, compelling brands to rethink their strategies for visibility and engagement. Gen Z’s embrace of ChatGPT for shopping advice, highlighted by Vogue Business in May 2025, is reshaping retail dynamics, with 72% of consumers now expecting AI-enhanced experiences. Forbes in March 2025 documented that 38% of global shoppers are actively using AI for purchase decisions, while February 2025 coverage in Forbes detailed the rise of autonomous AI shopping agents and their impact on retail media strategies. BoF’s January 2025 report emphasised the need for brands to recalibrate their digital presence as AI agents become central to the shopping experience.

ChatGPT and AI chatbots will reshape shopping: almost no one is ready

What: Amazon unveils new supply chain features—including expanded Multi-Channel Fulfillment, global warehousing, and generative AI customs clearance—to help merchants streamline inventory and reach customers across platforms.
Why it is important: This expansion positions Amazon as a critical infrastructure provider for global retail, enabling merchants to optimize inventory, reduce costs, and compete across multiple sales channels.

Amazon is expanding its Multi-Channel Fulfillment service to support merchants selling on Walmart, Shopify, Shein, and other platforms, allowing sellers to manage a single pool of inventory across all channels. The company is also launching Global Warehousing and Distribution, enabling sellers to store products in bulk near manufacturing sites and ship them to destination countries as needed, with initial facilities in China and Vietnam and plans for further expansion. Amazon Global Logistics is adding more direct shipping routes from manufacturing hubs to major markets, aiming to cover 96% of inbound seller volume by the end of 2026. Additionally, Amazon is leveraging generative AI to simplify customs clearance, cutting paperwork time by over 50% and reducing errors. These innovations are designed to help merchants reduce out-of-stocks, increase inventory turnover, and deliver faster, more reliably to customers worldwide, reinforcing Amazon’s role as a foundational logistics and technology partner for global retail.
IADS Notes: Amazon’s expansion of its Multi-Channel Fulfillment service and supply chain portfolio reflects a broader transformation in global retail logistics and technology. As reported by Retail Dive in November 2024, leading retailers like Ulta and Amazon are adopting market fulfilment centre models and automation to optimise inventory and reduce out-of-stocks, supporting omnichannel growth . Bain & Company in May 2025 and Forbes in January 2025 highlighted the industry-wide shift toward segmented, resilient supply chains and global warehousing strategies, enabling retailers to manage inventory more efficiently and respond to cross-border demand . BCG in November 2024 and Journal du Net in February 2025 described how generative AI and AI agents are revolutionising supply chain management, including customs clearance, by streamlining processes and reducing administrative time. Forbes in April and July 2025 covered Amazon’s expansion of its Haul platform and the launch of “Buy For Me,” illustrating how Amazon is leveraging its fulfilment infrastructure and AI to support cross-platform sales and compete with global e-commerce rivals. Finally, WWD in November 2024 and Forbes in January 2025 noted that AI and automation are now essential for retail competitiveness, with successful implementations delivering measurable improvements in speed, accuracy, and profitability.

Amazon unveils new logistics and fulfillment upgrades for sellers

What: Amazon’s $900 million commitment has resulted in more than 10,000 affordable homes for 22,000 residents in the Seattle area.

Why it is important: The development highlights the evolving role of retailers in urban development and stakeholder engagement, building on trends identified in the past year.

Amazon’s achievement of delivering over 10,000 affordable housing units in the Puget Sound region marks a significant evolution in the intersection of retail, urban development, and corporate responsibility. By investing $900 million, Amazon has not only provided stable housing for 22,000 residents but also set a new standard for long-term affordability, with units remaining accessible for 99 years. This initiative addresses the acute housing crisis exacerbated by the influx of high-paying tech jobs, which has driven up local property values and strained the availability of affordable homes. Amazon’s approach—working with local developers and authorities, issuing grants, and offering below-market loans—demonstrates how major retailers can leverage their financial power to foster community stability and economic inclusivity. The company’s commitment is part of a broader $2 billion pledge to support affordable housing in regions most affected by its growth, positioning Amazon as a leader among tech and retail giants in tackling social challenges. This milestone underscores the growing expectation for retailers to play an active role in shaping the communities where they operate, influencing both local economies and their own reputational capital.

IADS Notes: Amazon’s milestone in affordable housing delivery reflects a wider industry movement, as seen in Falabella’s sustainability agenda in May 2025 and Primark’s economic impact on local businesses in November 2024. Amazon’s influence on consumer spending was further highlighted by record-breaking Black Friday sales in December 2024. The company’s competitive strategies, such as its response to discount rivals in October 2024 and Walmart’s tech-driven transformation in February 2025, illustrate the dynamic landscape of retail competition. Urban development initiatives by John Lewis in May 2025 and Simon Malls in September 2025 demonstrate how retailers are reshaping city environments, while the World Retail Congress in May 2025 and John Lewis’s stakeholder challenges in August 2025 highlight the reputational and engagement complexities facing retailers today.

Amazon pledged to deliver affordable housing in Puget Sound, Washington. 

What: Adrian Cheng shifts focus from New World Development to Almad Group, targeting digital assets and expanding K11 by AC internationally.

Why it is important: The globalisation of K11 and Cheng’s strategic pivot highlight how leadership changes and asset restructuring are reshaping the region’s retail landscape.

Adrian Cheng, former CEO of New World Development and a prominent figure in Hong Kong’s business community, has launched Almad Group, a new venture focused on digital assets and transformative industries such as entertainment, sports, media, healthcare, and cultural tourism. This move follows his departure from New World Development, which has faced significant financial challenges, including a record loss and ongoing asset divestments. Cheng’s strategy centers on globalising the K11 by AC brand, with particular emphasis on expanding its Anime IP business in mainland China and the Middle East. His vision is to build future-oriented businesses that address the evolving needs of the next generation. The shift from traditional property development to digital and cultural sectors reflects both Cheng’s personal ambitions and broader trends in Asian retail, where experiential and cross-border models are gaining traction. This transition also marks a significant moment in the succession and transformation of one of Hong Kong’s most influential family business empires.

IADS Notes: Adrian Cheng’s launch of Almad Group and the globalisation of the K11 by AC brand reflect a period of significant transformation for both the Cheng family and the Asian retail sector. In December 2024, The Mall Group’s partnership with K11 MUSEA expanded cross-border privileges and digital engagement for customers, as reported by the Bangkok Post. K11’s cultural commerce model achieved a 120 percent increase in sales above pre-pandemic levels, highlighted by Inside Retail in January 2025. Meanwhile, New World Development’s financial restructuring and asset divestments, including negotiations to sell K11 Art Mall for HK$9 billion, were detailed by Inside Retail in January 2025. Adrian Cheng’s resignation in September 2024 and the company’s renewed focus on debt management in November 2024, covered by Inside Retail and the South China Morning Post respectively, further underscore the impact of leadership changes and strategic pivots in response to market volatility.

What: Pimkie’s alliance with Shein led to its expulsion from French retail associations, highlighting tensions over fast-fashion partnerships.

Why it is important: This event exemplifies the growing regulatory and industry pushback against fast-fashion platforms and their impact on traditional retail.

Pimkie’s recent partnership with Shein has ignited significant controversy within the French retail sector, resulting in the brand’s unanimous exclusion from the Alliance du Commerce and the Fédération des enseignes d’habillement. Industry leaders and federations condemned the alliance, arguing that Shein’s business model undermines employment, weakens urban retail, and contravenes the sector’s environmental transformation efforts. The move is seen as a capitulation rather than a rescue for Pimkie, whose CEO, Salih Halassi, defends the decision as essential for the brand’s survival and international growth. Critics, however, point to Shein’s history of regulatory circumvention, deceptive pricing, and environmental violations, which have drawn increasing scrutiny from both French and European authorities. The federations’ decisive action aims to deter other retailers from following suit, emphasizing the need for collective industry standards and stronger regulatory intervention. This episode encapsulates the mounting challenges faced by legacy brands as they balance financial pressures, digital disruption, and the imperative to uphold ethical and sustainable practices in a rapidly evolving retail landscape.
IADS Notes: The Pimkie-Shein controversy mirrors recent developments across Europe, where regulatory and industry bodies have intensified their oversight of fast-fashion and e-commerce platforms. In February 2025, the EU enacted comprehensive regulations targeting environmental and consumer protection (Financial Times, "EU cracks down on fast fashion and food waste") . In July 2025, Shein was fined €40 million in France for deceptive pricing (Fashion Network, "Shein fined €40m for deceptive pricing in France") . The surge of low-value Asian imports, highlighted in April 2025, has prompted new customs and compliance measures (Journal du Net, "Asian parcel invasion: Europe under pressure, France prepares its response") , and the European Commission’s July 2025 investigation into Temu underscores the growing demand for digital marketplace accountability (Financial Times, "Brussels accuses China’s Temu of breaking EU digital rules") . Legacy retailers, meanwhile, are increasingly compelled to adapt their strategies—whether through restructuring or controversial partnerships—to remain viable amid these sweeping changes.

Pimkie expelled from French retail associations

What: London Mayor Sadiq Khan launches a campaign to rescue Oxford Street, including plans for pedestrianisation and major public-private investment.

Why it is important: The initiative demonstrates how coordinated urban policy and investment can reverse the decline of iconic retail destinations in the face of changing consumer behaviour.

London’s Oxford Street, once a flagship shopping destination, has faced a period of managed decline due to the rise of online shopping, the growth of out-of-town retail centers, and the exit of high-profile retailers. In response, Mayor Sadiq Khan has initiated a campaign to revitalise the district, highlighted by plans to pedestrianise a key stretch of the street and ban vehicles, including buses, between Oxford Circus and Marble Arch. This move, strongly supported by both the public and major retailers, aims to increase footfall, retail spend, and create a more vibrant, accessible environment for shopping, leisure, and outdoor events. The transformation is underpinned by more than £300 million in private investment, new store openings, and strategic redevelopments, which have driven vacancy rates to historic lows. Experiential events, such as the one-day pedestrianisation preview, have further demonstrated the potential of placemaking to re-engage consumers and restore Oxford Street’s status as a world-class retail corridor.

IADS Notes: Oxford Street’s recent decline, driven by the rise of online shopping, out-of-town retail centers, and the departure of high-profile retailers, has prompted a coordinated response from both public and private sectors. The Mayor of London’s intervention, including the confirmation of plans to pedestrianise Oxford Street in June 2025, has been met with strong support from major retailers such as Selfridges and IKEA, who see the initiative as a catalyst for revitalisation. This policy shift is complemented by significant private investment, with over £300 million committed to new developments and store openings, reducing vacancy rates to historic lows of 0.5% by May 2025. The district’s transformation is further accelerated by experiential events, such as the one-day pedestrianisation preview in September 2025, which showcased the potential of outdoor activities and placemaking to increase footfall and retail engagement. These efforts, alongside the impact of infrastructure projects like the Elizabeth Line, have helped Oxford Street rebound from its post-pandemic slump, demonstrating how strategic leadership, urban policy, and innovative retail concepts can collectively rescue and reimagine a flagship shopping destination.

Sir Sadiq Khan begins fight to “rescue Oxford Street”

What: Shinsegae debuts in Singapore with Metro, launching a pop-up at Paragon and introducing six Korean fashion and lifestyle brands.

Why it is important: Shinsegae’s move highlights how international retailers are using pop-ups and cross-cultural collaborations to test new markets and drive brand engagement.

Korean fashion conglomerate Shinsegae is making its first foray into Singapore through an exclusive partnership with Metro, launching a pop-up at Paragon from September 25 to October 5. This initiative introduces six Korean fashion and lifestyle brands—Studio Tomboy, Man on the Boon, Jaju, Voice of Voices, Rawrow, and Vidivici—to Singaporean consumers, with collections remaining available at Metro Paragon until the end of October. The collaboration features a unique design partnership between Singapore’s Phunk Studio and Studio Tomboy, blending Peranakan and Korean motifs to create a cross-cultural retail experience. Metro’s CEO, Erwin Wuysang-Oei, emphasised that this partnership marks a pivotal shift from traditional department store retailing to a more fashion-focused, experiential model. By leveraging the pop-up format and integrating cultural storytelling, Shinsegae and Metro are setting a new standard for international retail collaboration in Southeast Asia, reflecting the growing importance of flexible, immersive retail strategies in the region.

IADS Notes: Shinsegae’s debut in Singapore through its partnership with Metro and the launch of a pop-up at Paragon reflects the Korean conglomerate’s broader international expansion strategy and its commitment to experiential, premium retail. The success of Shinsegae’s “House of Shinsegae” luxury concept, as reported in Maeil Business Newspaper in February 2025, has driven the group to expand into new formats and markets, leveraging its premium positioning. This approach is echoed in Shinsegae’s K-beauty pop-up at Paris Printemps in June 2025, which demonstrates the group’s ability to blend cultural storytelling and brand curation for global audiences. According to Inside Retail in January 2025, Shinsegae’s international growth strategy is a direct response to domestic market challenges, with Southeast Asia—and Singapore in particular—identified as key markets for multi-format and experiential retail. The growing popularity of pop-up activations across Asia, highlighted by Inside Retail in February 2025, underscores the importance of flexible, short-term retail formats for testing new markets and engaging consumers. Finally, the June 2025 Parco-Hyundai partnership illustrates how cross-cultural collaborations are setting new standards for fashion retail and cultural integration in the region.

Korean fashion giant Shinsegae debuts in Singapore with Metro

What: Lotte shifts strategy in Vietnam, abandoning a major property project to prioritise supermarket, department store, and shopping mall expansion.

Why it is important: Lotte’s strategy underscores how global retailers are adapting to local legal complexities and leveraging successful models to achieve ambitious profit targets.

Lotte Group has decided to withdraw from its long-delayed Eco Smart City project in Ho Chi Minh City’s Thu Thiem district, ending nearly a decade of stalled progress due to regulatory delays and shifting legal frameworks. The project, once envisioned as a modern mixed-use complex with luxury retail, residences, and smart city infrastructure, was valued at approximately US$761 million. Despite this setback, Lotte is reaffirming its commitment to Vietnam by focusing on its core retail strengths, planning to expand its network of supermarkets, department stores, and high-end shopping malls. Building on the success of Lotte Mall West Lake Hanoi, the company aims to open two to three additional malls in key urban markets and more than double its operating profits by 2030. This strategic pivot reflects both the challenges and opportunities facing international retailers in Vietnam, where regulatory complexities and rapid market evolution require agility and a focus on proven retail models.

IADS Notes: Lotte Group’s decision to withdraw from the Eco Smart City project in Thu Thiem marks a clear pivot in its Vietnam strategy, shifting focus from large-scale property development to expanding its core retail operations. This transition is underscored by Lotte’s announcement in Korea JoongAng Daily in October 2024 of a $5.06 billion investment plan to grow its shopping mall business by 2030, with Vietnam as a key market for international expansion. The success of Lotte Mall West Lake Hanoi, which contributed to a 4.7 percent increase in overseas sales as reported by Inside Retail in January 2025, exemplifies the effectiveness of high-end retail models in Southeast Asia. At the same time, Vietnam’s retail sector is experiencing rapid growth but faces persistent regulatory and legal challenges, as highlighted by Inside Retail in March 2025, requiring international retailers to adapt their strategies. Lotte’s transformation, including a 44.3 percent year-on-year operating profit increase in May 2025 as covered by Inside Retail, and ambitious sales targets of $14.8 billion by 2030 reported by The Korea Times in October 2024, demonstrates the group’s commitment to innovation and market leadership through a balanced approach to physical and digital retail, even as it navigates the complexities of emerging markets.
Lotte axes major Vietnam project – but promises more malls

What: Brunello Cucinelli’s CEO has defended the brand’s Russian operations against short seller allegations, insisting all activities comply with EU sanctions and that the company is adapting to new market realities.

Why it is important: This case highlights how luxury brands are navigating sanctions, regulatory scrutiny, and shifting consumer behaviour by adapting distribution, pricing, and compliance strategies.

Brunello Cucinelli’s chief executive has publicly rejected claims from short sellers that the brand is violating EU sanctions by continuing to sell luxury goods in Russia, clarifying that its boutiques are closed and only legal, price-capped sales are conducted through its Moscow showroom. The company maintains that all shipments to Russia comply with the €300 EU limit, with any higher-value sales limited to residual stock delivered before the war. Cucinelli’s approach—keeping its local structure intact to support employees and honour leases—reflects the broader dilemma facing Western luxury brands in Russia: balancing compliance with sanctions and maintaining a presence in a key market. The brand’s defence comes amid allegations of inventory “dumping” and triangulation, which Cucinelli denies, citing regular internal and customs checks. The company’s Russian revenue has dropped from 9% to 2% of group sales since 2021, and exports have fallen from €16 million to €5 million. This episode underscores the complexities of luxury retail in a fragmented regulatory environment and the need for transparent, adaptive strategies.

IADS Notes: Brunello Cucinelli’s response to short seller allegations over its Russian operations comes at a time when luxury brands are navigating a complex landscape of sanctions, shifting consumer behaviour, and heightened scrutiny. As reported by the Financial Times in January 2025, wealthy Russians have continued to access luxury goods through sophisticated personal shopping networks, exposing the limitations of sanctions enforcement and prompting brands to adapt their distribution strategies. Despite these challenges, Cucinelli has maintained its focus on exclusive, experiential retail, as highlighted by Fashion Network in December 2024, reinforcing its quiet luxury positioning through initiatives like Casa Cucinelli. The broader luxury sector, according to Vogue Business in October 2024, is experiencing a downturn driven by low consumer confidence in China and global economic uncertainties, though Cucinelli has shown relative resilience. Meanwhile, the Financial Times in August 2025 notes a significant drop in tourist spending in Europe and Japan, forcing brands to rethink their market approaches. Inside Retail in August 2025 further underscores how EU tariffs and sanctions are reshaping luxury pricing and fueling the rise of the resale market, with brands increasingly introducing lower-priced products to maintain accessibility and compliance.

Brunello Cucinelli chief hits back at short seller over alleged sanction breach

What: Simon Malls introduces a micro-space platform with IEM, providing short-term, subsidized retail environments for emerging brands to bridge digital and physical retail in high-traffic locations.

Why it is important: Simon’s partnership with IEM highlights the evolution of malls into dynamic, multi-brand platforms, supporting omnichannel strategies and the next generation of retail experiences.

Simon Property Group has partnered with retail innovation company IEM to launch a “micro spaces” platform across its US malls, offering 10-by-15-foot branded environments in high-traffic common areas. These turnkey, experiential spaces are designed for e-tail and emerging brands seeking to test and scale physical retail with minimal risk. The initiative features short-term leases and subsidized rents, enabling brands to use the micro spaces as cost-efficient incubators to gather data, build brand awareness, and create memorable shopping experiences. Early adopters include Oofos, Generation Tux, and Caddis Eyewear, with more brands set to launch through early 2026. The move reflects Simon’s broader strategy to adapt its malls for digital-first brands and changing consumer behaviors, positioning its properties as flexible, omnichannel platforms that blend retail, experience, and community engagement.

IADS Notes: Simon Property Group’s launch of “micro spaces” in partnership with IEM reflects a broader transformation in US mall strategy, emphasizing flexibility, experiential retail, and omnichannel integration. As reported by WWD in November 2024, Simon’s focus on attracting younger consumers and digital-first brands has driven strong mall performance and increased youth traffic . Inside Retail in May 2025 highlighted Simon’s global expansion, record occupancy rates, and investments in data-driven marketing, positioning the company as a leading platform for brand incubation and omnichannel retail . The Los Angeles Times in March 2025 and The Economist in April 2025 described the surge in experiential retail, with landlords transforming mall spaces into interactive, social destinations to boost engagement and footfall . Retail Dive in October 2024 and WWD in December 2024 noted Simon’s use of influencer campaigns, micro-distribution, and flexible leasing to support emerging brands and cost-efficient physical retail entry . Finally, Inside Retail in January 2025 and The Robin Report in January 2025 observed that malls worldwide are leveraging technology, entertainment, and flexible design to remain relevant, resilient, and attractive to both brands and consumers .

Simon Malls house ‘Micro Spaces’

What: Target is prioritizing generative engine optimization (GEO) and AI-driven search, preparing for agent-to-agent commerce and more complex, contextual product discovery across its digital platforms.

Why it is important: Target’s GEO strategy demonstrates the growing importance of contextual, AI-powered discovery and the need for retailers to optimize for both human and agent-driven shopping journeys.

Target is rethinking its digital search strategy by focusing on generative engine optimization (GEO) and AI-driven product discovery. As shoppers increasingly use longer, more complex queries and generative AI tools, Target is training its systems and agents to deliver relevant, contextual results both on its own website and through third-party shopping assistants. The retailer’s Bullseye Gift Finder, a generative AI-powered recommendation tool, saw strong adoption during the 2024 holiday season and is now being scaled for other key retail moments. Target is also preparing for a future where agent-to-agent commerce becomes standard, requiring its product data and digital experiences to be optimized for both direct and AI-mediated interactions. The company’s research shows that consumer trust and willingness to use AI shopping assistants depend on the relevance and accuracy of results, making contextual discovery and personalization critical for future digital retail success.

IADS Notes: Target’s focus on generative engine optimization (GEO) and AI-driven search reflects a broader transformation in retail technology and consumer behavior. As reported by The Robin Report in December 2024, generative AI adoption surged during the holiday season, with 38% of shoppers using AI tools and major retailers like Target leveraging these technologies for personalized recommendations and product discovery . BCG in July 2025 further highlighted the rapid consumer acceptance of AI shopping assistants and the importance of contextual, relevant results for building trust . BoF in January 2025 and Forbes in February 2025 described the rise of agentic commerce and the shift toward longer, more complex search queries, with Target and Amazon preparing for agent-to-agent interactions and optimizing for GEO . Journal du Net in September 2025 and Retail Dive in November 2024 noted that AI agents are mediating e-commerce transactions, requiring retailers to train both internal and third-party agents for effective product representation and discovery . Bain & Company in November 2024 and McKinsey in February 2025 emphasized that trust and contextual accuracy are critical for AI adoption, with 71% of consumers expecting personalized interactions and 76% expressing frustration when these aren’t delivered . Finally, Forbes in March 2025 and WWD in October 2024 reported that 87% of retailers implementing generative AI saw at least a 6% revenue increase, confirming that AI is now essential for maintaining competitive advantage in retail .

How Target is rethinking search for generative AI

What: Department stores in Denmark, led by Salling’s Copenhagen debut and Magasin’s new formats, are experiencing a revival as experiential, community-driven destinations after years of online shopping dominance.

Why it is important: The trend highlights the growing demand for in-person experiences and social spaces, showing that physical retail can thrive alongside digital channels when it offers more than just shopping.

Department stores in Denmark are making a comeback as social and cultural hubs, challenging the long-standing narrative of their decline. Salling’s upcoming opening in Copenhagen marks its first store in the capital and is designed as a 3,000-square-meter showroom and community space, catering to both online and offline customers. Magasin du Nord is expanding its “Small Store” concept and investing in local brands, while also integrating cafés, bars, and cultural programming to enhance the in-store experience. Experts note that after years of online shopping, consumers are seeking spaces where they can connect, experience culture, and be “more human than consumer.” The renewed focus on experiential retail, omnichannel integration, and community engagement is driving footfall and sales, with department stores reporting strong holiday performance and record Black Friday results. The arrival of Salling in Copenhagen is expected to intensify competition, prompting Magasin and Illum to further sharpen their customer experience and brand positioning.

IADS Notes: The revival of department stores in Denmark, exemplified by Salling’s upcoming Copenhagen opening and Magasin du Nord’s expansion, reflects a broader trend toward experiential, community-driven retail. As reported by Via Ritzau in October 2024 and April 2025, Magasin’s “Small Store” concept and investments in Danish brands highlight the shift toward localised, omnichannel formats that blend physical and digital experiences . Retail Bulletin in April 2025 and Forbes in April 2025 emphasised the importance of cultural programming, food offerings, and community engagement in making department stores relevant social hubs once again . Fashion Network in July 2025 and Retail Week in August 2025 described how Magasin’s digital integration, brand partnerships, and competitive positioning are helping it maintain relevance as Salling enters the Copenhagen market . Retail Week in August 2025 and Via Ritzau in December 2024 noted the resurgence of in-store shopping and the enduring appeal of department stores during key periods like Christmas, underscoring the consumer desire for in-person experiences and community . Collectively, these developments show that Danish department stores are successfully adapting to new consumer behaviors by investing in experiential retail, omnichannel strategies, and local partnerships.

Salling is coming to Copenhagen

What: Macy’s kicks off the holiday season with curated gift lists, expanded in-store Holiday Square markets, and immersive experiences, aiming to drive engagement and sales after its first quarterly growth in three years.

Why it is important: This approach highlights how experiential retail and curated assortments are becoming essential for department stores to compete in a crowded holiday market.

Macy’s has launched its 100 Days to Christmas campaign, unveiling a curated list of 100 unique holiday gifts and promising over 40% newness in its seasonal assortment. The retailer is expanding its experiential Holiday Square market concept, with the Herald Square flagship hosting a 15,000-square-foot market featuring customizable gifts and on-site food vendors, and Chicago’s State Street store debuting its own version with a French-inspired flair. Macy’s is also rolling out immersive Santa experiences and a nationwide Santa tour, building on the momentum of its first quarterly sales growth in three years. The strategy reflects a broader industry trend toward early and extended holiday marketing, as well as the integration of in-store experiences, exclusive products, and digital engagement to attract shoppers. Macy’s efforts come amid aggressive holiday promotions from competitors like Amazon and Target and mixed forecasts for 2025 holiday retail sales, underscoring the need for innovation and differentiation in a highly competitive market.

IADS Notes: Macy’s expansion of its Holiday Square experiential markets and early holiday marketing campaigns reflect a broader transformation in US holiday retail strategy. As reported by WWD in October 2024, Macy’s introduced both indoor and outdoor holiday markets at Herald Square, blending traditional market experiences with curated, trend-driven assortments and supporting diverse vendors . Press Release in July 2025 and The Robin Report in October 2024 highlighted Macy’s Black Friday in July and 100 Days to Christmas campaigns, illustrating the trend toward longer, more competitive holiday selling seasons and innovative promotional strategies . Retail Dive in August 2025 and The Robin Report in January 2025 described Macy’s partnership with Amazon for retail ads and the increasing importance of omnichannel, AI-driven, and mobile-first holiday shopping experiences . BoF in January 2025 and Forbes in September 2025 noted Macy’s mixed holiday sales results, the performance of competitors like Amazon and Target, and the critical role of portfolio optimisation and customer-centric strategies . Finally, PwC and BCG in September 2025 provided mixed forecasts for 2025 holiday sales, emphasising the impact of generational shifts, value-driven consumer behaviour, and the need for retailers to balance digital innovation with in-store experiences .

Macy’s kicks off ‘100 Days to Christmas’ with new merchandise, curated gift ideas

What: Saks Global is closing Neiman Marcus at Willow Bend and selling the site for redevelopment, while focusing investment on more productive locations.

Why it is important: This move reflects Saks Global’s broader strategy of optimising its store network and investing in high-performing locations amid post-merger restructuring.

Neiman Marcus will close its Willow Bend store in Plano, Texas, as Saks Global sells the property to Centennial, a developer planning to transform the center into a mixed-use destination. The decision aligns with Saks Global’s ongoing efforts to streamline its store portfolio following its acquisition of Neiman Marcus Group, with a clear emphasis on cost-cutting and operational efficiency. While the Willow Bend location will remain open until January 2027, Saks Global continues to invest in more productive sites, notably the NorthPark Center store, which is recognised for its higher performance. The company is also working with the City of Dallas to potentially extend the life of its downtown Dallas flagship, reflecting a selective approach to market presence. Employees affected by the closure will be offered transfer opportunities or separation packages. This strategic repositioning comes as retail real estate evolves, with developers increasingly integrating residential, dining, and entertainment elements to revitalize shopping centers and respond to shifting consumer preferences.

IADS Notes: The closure of Neiman Marcus at Willow Bend exemplifies the post-merger restructuring and cost-cutting measures Saks Global has implemented since its $2.7 billion acquisition of Neiman Marcus Group, as detailed in Forbes (January 2025) and Inside Retail (August 2025). The company’s focus on consolidating its store network and investing in high-performing locations, such as NorthPark Center, is further supported by WWD (February 2025). Simultaneously, the redevelopment of retail centers into mixed-use destinations, highlighted by The Economist (April 2025), Los Angeles Times (March 2025), and WWD (December 2024), underscores the sector’s shift toward experiential retail and operational efficiency in response to evolving consumer behaviours.

Neiman Marcus to close Willow Bend store in Texas

What: Debenhams Group appoints Tom Handley as independent non-executive director, while Alistair McGeorge steps down amid ongoing board reshuffles and strategic transformation.
Why it is important: This governance change highlights the critical role of board expertise and stability as Debenhams Group navigates financial challenges and a major business model transformation.

Debenhams Group, formerly Boohoo Group, has announced the appointment of Tom Handley as independent non-executive director following the immediate departure of Alistair McGeorge from the board. Handley, a director at Provenio Law and former CEO of Exchange Chambers, will join the Audit and Risk, Remuneration, and Nomination Committees. John Goold will assume the role of senior independent director. The reshuffle comes at a pivotal moment for the group, which owns Debenhams, Boohoo, and Karen Millen, as it works to restore profitability after reporting a widened operating loss of £241.4 million and a 12% revenue decline for the year ended February 2025. The group is also in the process of selling PrettyLittleThing and repositioning its portfolio around a digital-first, marketplace-led model. The board changes underscore the importance of governance expertise and stability as Debenhams Group navigates financial headwinds and ongoing transformation.
IADS Notes: Debenhams Group’s latest board reshuffle and ongoing transformation reflect the complex challenges and strategic shifts facing the UK retail sector. As reported by Drapers in March 2025, the rebranding from Boohoo Group to Debenhams Group marked a pivotal move toward a marketplace-led model and brought new leadership to the board . Fashion Network in August 2025 highlighted the group’s widening operating loss and 12% revenue decline, while also noting the strong performance of the Debenhams marketplace and the strategic review of PrettyLittleThing . Drapers in July 2025 reported on supplier payment delays, underscoring the operational risks that can accompany rapid restructuring and digital transformation . Retail Week in July 2025 and Fashion Network in June 2025 described Debenhams Group’s continued investment in digital innovation, including AI partnerships and the expansion of beauty showrooms, as part of a broader industry trend toward operational efficiency and customer engagement . These developments mirror wider trends in UK retail, where governance, portfolio optimisation, and financial turnaround are top priorities for multi-brand groups navigating a challenging market environment.

Debenhams Group reshuffles board

What: Warm and dry weather in August boosted retail sales volumes and shifted consumer demand toward seasonal categories.

Why it is important: The growing influence of climate on retail performance highlights the need for agile merchandising and promotional planning.

The impact of weather on retail sales has become increasingly pronounced, with recent warm and dry conditions in August driving notable shifts in consumer behaviour and sales performance. In July 2025, Korean department stores experienced a surge in foot traffic and sales as heatwaves and monsoon rains pushed shoppers indoors, leading to double-digit increases in visitor numbers and strong growth in seasonal categories such as swimwear and bedding. Retailers responded with targeted promotions and experiential offerings, transforming their spaces into climate-controlled destinations and demonstrating the sector’s agility in adapting to environmental challenges. Globally, the fashion industry is rethinking store networks in response to extreme weather events, as highlighted in January 2025, with operational disruptions and financial losses prompting a fundamental reassessment of physical retail strategies. In the US, severe weather in May 2024 directly reduced consumer mobility and spending, underscoring the broader volatility and resilience required in retail operations. These developments collectively illustrate how weather-driven fluctuations are shaping sales metrics, consumer demand, and strategic adaptation across the retail sector.

IADS Notes: Recent warm and dry weather patterns have reinforced the critical link between climate and retail performance. In July 2025, Inside Retail reported that Korean department stores saw a 10–14% rise in visitors and robust sales growth in seasonal categories, as retailers leveraged promotions and experiential concepts to attract weather-driven footfall. Vogue Business in January 2025 emphasised the need for global retailers to redesign store networks in response to operational disruptions and financial losses from extreme weather, while Visa’s May 2024 analysis highlighted the direct impact of storms and tornadoes on US consumer spending and confidence. These sources collectively confirm that weather volatility is prompting retailers to adapt their merchandising, inventory, and promotional strategies to maintain resilience and capitalise on shifting consumer behaviour.

UK retail sales buoyed by warm and dry weather in August

What: Shinsegae and Alibaba’s joint venture creates a new challenger to Coupang and Naver in South Korea’s e-commerce sector.

Why it is important: The joint venture highlights the growing impact of cross-border partnerships and regulatory oversight in shaping retail competition.

The Shinsegae–Alibaba joint venture marks a decisive shift in South Korea’s e-commerce landscape, as the alliance directly challenges the entrenched dominance of Coupang and Naver. This partnership, announced in January 2025, is rooted in Shinsegae’s strategic restructuring and leverages Gmarket’s extensive seller network alongside Alibaba’s global reach, creating a formidable competitor with the scale to disrupt market dynamics. The move comes amid a broader trend of traditional retailers seeking international alliances to counter the rapid ascent of Chinese platforms like AliExpress and Temu, as well as the stagnation of department store growth and the need for digital transformation. Regulatory scrutiny has intensified, with the Korea Fair Trade Commission imposing strict data privacy conditions, reflecting a climate shaped by recent high-profile data violations involving major payment providers. As Korean e-commerce platforms diversify into luxury and digital innovation to combat slow growth, the Shinsegae–Alibaba venture exemplifies the convergence of cross-border collaboration, heightened competition, and evolving regulatory frameworks, setting the stage for a new era of market rivalry and consumer choice.

IADS Notes: The Shinsegae–Alibaba alliance, announced in January 2025, represents a pivotal response to Coupang’s dominance and builds on Shinsegae’s November 2024 restructuring, which separated its department store and E-mart operations to enhance competitiveness, as reported by both Inside Retail and Fashion Network in January 2025. This strategic move comes at a time when online shopping surpassed in-store sales for the first time in 2024, and the influence of Chinese platforms such as AliExpress and Temu surged, prompting traditional retailers to pursue international partnerships, as highlighted by Inside Retail in both January and February 2025. The joint venture’s launch coincides with heightened regulatory scrutiny, exemplified by the Korea Fair Trade Commission’s strict data privacy conditions and the significant fines imposed on Apple Pay and KakaoPay for unauthorized cross-border data transfers, as covered by Inside Retail in January 2025. Furthermore, the alliance aligns with the broader trend of Korean e-commerce platforms expanding into luxury and digital innovation to counteract market stagnation, a development detailed by Inside Retail in February 2025. Coupang’s operational restructuring and international expansion further underscore the intensifying competition triggered by this new partnership, as noted by Inside Retail in February 2025.

Shinsegae–Alibaba e-commerce venture gets green light

What: Saks Global is said to consider the sale of a of Bergdorf Goodman, valuing the retailer at up to $2 billion, as it seeks to stabilise its finances.

Why it is important: The decision highlights Saks Global mounting financial pressures.

Saks Global is actively weighing the sale of a minority stake in Bergdorf Goodman, the flagship of its luxury portfolio, with a potential valuation between $1.5 billion and $2 billion. This move comes as the company faces significant financial strain, following its $2.7 billion acquisition of Neiman Marcus and Bergdorf Goodman, which left it with over $4 billion in debt. Despite recent refinancing efforts and a $1.8 billion asset-backed lending facility, Saks Global remains under pressure from vendors and credit agencies, with Standard & Poor’s warning of default risk within the next year. The company’s strategy to sell a stake in Bergdorf Goodman is intended to inject much-needed capital and restore confidence among stakeholders. However, the sale is complicated by the fact that only the retail operation, not the valuable Fifth Avenue property, is on offer. The situation reflects broader industry trends, as luxury retailers increasingly turn to asset sales and external investment to navigate a challenging macroeconomic environment and shifting consumer expectations.

IADS Notes: The potential sale of a Bergdorf Goodman stake comes amid Saks Global’s ongoing transformation, following its $2.7 billion Neiman Marcus acquisition in December 2024 and a subsequent strategic reset. By June 2025, Saks was exploring joint venture opportunities for Bergdorf Goodman (WWD, June 2025), while simultaneously grappling with mounting debt and vendor skepticism, as highlighted by distressed bond trading and complex restructuring deals in August 2025 (Financial Times, August 2025). Despite securing $350 million in new financing (Vogue Business, June 2025) and completing a $600 million debt swap (WWD, August 2025), operational challenges persist. Meanwhile, international investors remain active in luxury retail, as seen with Saudi Arabia’s Public Investment Fund’s 40% stake in Selfridges (WWD, October 2024) and Multiply Group’s majority investment in Tendam (Retail Detail, March 2025), underscoring the global appeal and strategic importance of marquee retail assets.

Saks Global to sell a minority stake in Bergdorf Goodman?