luxury

Saks Brings Back Holiday Light Show


Saks Fifth Avenue is bringing bright lights back to New York City, reviving its annual holiday light show after skipping last year. Its latest seasonal campaign, called “Holiday Your Way,” also features a fashion-drenched ad campaign, several microsites, a print catalog and its annual window displays.

For the sixth year, Saks is also selling a series of experiences, which this year include the opportunity for your dog to star in a Saks fashion shoot, an evening dinner at L’Avenue at Saks overlooking the Rockefeller Center tree lighting, and VIP access to Comic Relief Live at Carnegie Hall, including a meet-and-greet with the program’s stars.

Ads focus on the art of signature style, and star model Meadow Walker, musicians Julez Smith and Magnus Ferrell, fashion editor Patti Wilson, and chefs Riad Nasr and Lee Hanson. Highlighted brands include Ferragamo, Chloé, Prabal Gurung, Oscar de la Renta, Bottega Veneta, and Dolce & Gabbana.

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Emily Essner, president and chief commercial officer of Saks Global, touted "hallmark traditions like the return of our beloved light show to reimagined customer engagements that awaken the holiday spirit and ignite inspiration" in the announcement.

Last year’s lightshow was canceled, reportedly due to budget constraints. Mastercard is the presenting sponsor, marking the 16th year in that partnership.

The lightshow coincides with the reveal of Saks’ six windows, which this year will feature a snowy Central Park boat scene, and "Your Story in Lights," which the store describes as “a visual ode to making the holidays your own.”

Saks Global, the largest multibrand luxury retailer in the world, appears to be resolving financial issues following the acquisition of Neiman Marcus, which disrupted payments to hundreds of vendors, particularly small to mid-size brands. Industry reports indicate that payments have resumed and that the retailer is gradually rebuilding relationships.

But it isn’t likely to be an easy holiday for any brand in the luxury sector. Bain’s latest research calls this the most turbulent luxury environment in 15 years, with sales expected to decline this year. The most likely scenario calls for a dip of between 2% and 5%, but the consulting company says the drop might be as high as 9%.

Saks' own research, which includes a twice-yearly survey of luxury shoppers, finds luxury consumer sentiment toward both the economy and personal finances is trending upward, with significant increases across all income groups. But it’s still not great: “Sentiment has not yet returned to 2024 levels as uncertainty around the socioeconomic climate lingers,” the company said in the report.

***** Photo credit: Angelo Pennetta

 

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