Saks Fifth Avenue owner Hudson’s Bay Co will convert parts of some department stores into co-working spaces managed by office-sharing start-up WeWork, at a time when many employees are negotiating remote-work policies.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.
Marking the company's first female CFO, Frank will be responsible for the company's finance, tax, treasury, investor relations, asset protection, facilities, operations excellence and strategy functions.