Image courtesy of cnbc.com
It appears that Saks Global, which holds Saks Fifth Avenue, Bergdorf Goodman, and Neiman Marcus, is looking to reorganize its debt and operations with Chapter 11 bankruptcy. Sak Global’s Chapter 11 bankruptcy will happen only if Saks Global can finalize $1.75 billion in financing with their creditors.
Most of the financing is rumored to be coming from Pentwater Capital Management in Naples, Florida, and Bracebridge Capital, based in Boston. Neither company is known as experts in luxury fashion. This financing will assist Saks in meeting their employee payroll demands, pay vendors, and restock dwindling inventory while they attempt to restructure the business.
Saks Global financial woes began with the acquisition of Neiman Marcus in 2024. Richard Baker, who was elevated as Saks Global’s CEO, following the sudden resignation of Marc Metrick on January 2, is rumored to be leaving his role as CEO as Chapter 11 bankruptcy approaches.
Image courtesy of eventcartel.com
NYFW preliminary calendar
The Council of Fashion Designers of America (CFDA) has released the preliminary fashion calendar for the fall 2026 season. The fall 2026 fashion season promises to be a very important season with the return of familiar names to the fashion calendar with a bevy of new names to New York Fashion Week (NYFW).
Returning fashion brands/designers include, but Altuzarra, Area, Calvin Klein Collection, Carolina Herrera, Coach, Khaite, LaQuan Smith, Michael Kors, Prabal Gurung, Sandy Liang, Sergio Hudson, Tory Burch, Ulla Johnson, and others. Proenza Schouler returns to the fashion calendar under the creative directorship of Rachel Scott.
Public School returns to the calendar with Maxwell Osborne and Dao-Yi Chow at the helm. The Derek Lam Collection returns to the fashion calendar now under the direction of Robert Rodriquez. Rodriquez dissolved his namesake brand in 2020. For his debut collection for the Derek Lam Collection, Rodriquez is inspired by New York City, “and the women who move through it with quiet confidence,” as well as the “cast-iron facades, worn stone streets, and the procession of utilitarian objects throughout the city.”
Fashion brands/designers showing at NYFW for the first time include but are not limited to 7 For All Mankind by creative director Nicola Brognano, Alix of Bohemia, Andrew Curwen, Caroline Zimbalist, Contessa Mills, Cult Gaia, Hilá, J. Press, Jasper, Mel Usine, Menyelek, Ossou, Pipenco, and Veejay Floresca. Ralph Lauren is presenting his collection of February 10. And again, Marc Jacobs is presenting his fall 2026 later during the season.
Image courtesy of medium.com
Fashionable Kevin
Kevin Hart is now branching into fashion. Hart has inked a wide-ranging deal with Authentic Brands Group (ABG), giving the IP licensing company rights to his name. Currently, Kevin Hart is a shareholder in the Authentic Brands Group. Hart and ABG have partnered to produce clothing brands, consumer products and digital platforms, and live performances.
“This partnership is about acceleration, growth and diversification. I’ve spent years building businesses and creating opportunities, and joining Authentic gives me the platform and global infrastructure to take my brand to the next level,” Hart said in a statement, presented in a dailyfrontrow.com article. “Becoming a shareholder allows me to co-own some of the most recognizable IP of all time while building my own brand legacy. I want the Hart name to live on for generations to come and be something that my grandkids and their grandkids will be able to be proud of.”
William S. Gooch
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