Bloomingdale’s is coming for Saks Global’s luxury throne.
The retailer’s flagship store in Midtown Manhattan seems to be taking advantage of its competitor’s financial woes by positioning itself to be the new leader in luxury.
We’re told Bloomies has been “secretly hiring people” from Saks Fifth Avenue and Bergdorf Goodman, which is owned by the teetering Saks Global.
“They’re making huge offers to people from Saks, and people are quitting [Saks] left and right,” a fashion insider told Page Six.
Earlier this week, the New York Post exclusively reported that nearly two dozen Bergdorf employees noticed significant unexplained deductions in their paychecks since Jan. 1, according to interviews with workers and a Post analysis of paystubs and internal emails. The alleged pay discrepancy comes as Saks Global shocked the fashion industry by announcing it was filing for Chapter 11 bankruptcy last month.
Employees aren’t the only ones fleeing. Designers are also look to jump ship over unpaid bills, we’re told.
A Bloomingdale’s insider confimed that, “given the landscape, employees from our competitors, as well as several brands, are coming to us to discuss opportunties.” They told us the company is keenly aware of the “great momentum” they have right now.
The retailer’s famed 59th street flagship store has been undergoing a “phased renovation” since last year, including the launch of a high-end luxury section on its fourth floor that features designers like Chanel, Valentino, Erdem, Versace and Stella McCartney. The floor will also offer its upscale clientele stylists like Wayne Scot Lukas, who has worked with Janet Jackson, Tina Turner, Christie Brinkley and Kara Young.
As for Saks? The company has secured a $1.75 billion financial package that will help settle some of its unpaid bills, according to the Post. Saks Global CEO, Geoffroy van Raemdonck, recently said in a statement to the Associated Press, “We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multichannel shopping experience.”
A spokesperson for Bloomingdale’s did not comment.
Read the full article here
