Story of the Week Saks Global files for bankruptcy, shakes up leadership after a year of struggles On January 14th, Saks Global filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The move comes after a year of financial struggles following a $2.7 billion deal to merge Saks Fifth […]
Story of the Week Report: Anta makes offer to buy stake in Puma Anta Sports Products has “offered to buy 29%” of Puma from the Pinault family, according to sources cited by Wu & Crowley of Reuters. Anta “made the offer a few weeks ago” and sources noted the company has “secured financing for the […]
Story of the Week U.S. economy grows by 4.3% in third quarter, much more than expected, delayed report shows The U.S. economy grew at a much faster-than-expected pace in the third quarter, boosted by strong consumer spending, according to a delayed report released on Dec 23. U.S. gross domestic product, a sum of all goods […]
Story of the Week The art market’s $13.2 billion comeback A $31.4 million bar cart shaped like a hippopotamus. A $30.2 million Fabergé egg. A $12 million solid-gold Maurizio Cattelan toilet. And that $236.4 million Gustav Klimt portrait. After a two-year slump, art sales surged across nearly every category at the world’s chief auction houses […]
Story of the Week M.S. Rau Adds December Pop-Up Shops and Gets Ready for Aspen Gallery M.S. Rau, the New Orleans retailer of vintage jewelry, antiques, and art, is expanding its reach, with its first pop-up shops in department stores nationwide and a new gallery space in Aspen, Colorado. The pop-up at Saks Fifth Avenue […]