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Neiman Marcus downtown Dallas to stay open through 2025 holiday season

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Saks Global has announced that it will maintain operations at the Neiman Marcus Downtown Dallas store through the 2025 holiday season, while working with the City of Dallas on a new vision for the location.

Neiman Marcus downtown Dallas to stay open through 2025 holiday season. – Neiman Marcus

Initially, Saks Global had planned to close the flagship store on Monday after more than a century in downtown Dallas, following a notice from its landlord terminating the lease. However, an effort by city officials and business leaders led to the City of Dallas acquiring the property, preserving the site’s legacy and opening the door for a potential revitalization.

City officials recently convened with Saks Global leadership to discuss a range of potential concepts for the reimagined store. These proposals include a luxury retail experience, a curated art exhibition, a multi-purpose fashion and event center, and an incubator for fashion design and manufacturing. 

“We deeply admire the city’s passion and unwavering dedication to Neiman Marcus’ storied legacy in Dallas. The potential reimagination of this iconic shopping destination reinforces Saks Global’s commitment to redefining the luxury shopping experience,” said Marc Metrick, chief executive officer of Saks Global. 

“As we explore opportunities for the Downtown store, along with the planned renovation at the NorthPark store, we will evaluate the opportunity to utilize both locations to serve different customer needs in the Dallas market.”

Since its establishment in 1907, Neiman Marcus has been a cornerstone of Dallas, shaping its fashion scene and contributing to the city’s cultural and civic landscape. Saks Global acquired Neiman Marcus Group for a total enterprise value of $2.7 billion, last year. 

“We are excited that Saks Global has decided to keep Neiman Marcus open downtown, as we explore the opportunity to unlock the potential to transform downtown into an international beacon and economic engine for fashion – just as the Neiman Marcus founders intended when they opened the store more than 100 years ago,” added Dallas city manager Kimberly Bizor Tolbert. 

“We look forward to exploring what‘s on the horizon and are committed to continuing our conversations with the Saks Global team.”

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France retains its position as the world’s fourth-largest leather exporter

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Translated by

Roberta HERRERA

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April 9, 2025

The French leather sector closed out 2024 on solid footing, recording a trade surplus of €5.5 billion. While imports totaled €13.7 billion for the year, exports increased by 1% to reach €19.2 billion, according to the Alliance France Cuir Economic Observatory.
 

Alliance France Cuir – DR

France retained its position as the world’s fourth-largest leather exporter in 2023, behind China, Italy, and Vietnam. It accounted for 6.4% of global leather exports.

However, growth remained modest in 2024, partly due to stable exports to China—France’s largest customer—a slight 1% increase in exports to the United States, and a 2% decline in shipments to Italy. China and the U.S. together accounted for more than a quarter of total French leather exports.

Exports to Japan surged 237% year-on-year, while shipments to South Korea rose 14%. In contrast, exports to Hong Kong fell 9%, and those to Singapore dropped sharply by 49%.

In Europe, France saw slight export declines to Germany (-5%) and the UK (-2%), while exports to Spain grew by 2%.

Leather goods continued to dominate the French leather industry’s exports, representing two-thirds of the total. In 2024, leather goods exports rose 2% to €13 billion. Leather apparel followed, up 13% to €260.4 million. Footwear, accounting for 28% of exports, dipped slightly by 1%, while raw material exports fell by 5%.

After a surge in imports in 2021 and 2022 during the post-pandemic rebound, France’s leather imports stabilized at around €13.7 billion in 2023 and 2024. European countries made up 49% of the total, or €6.7 billion, while Asia accounted for 47%, or €6.5 billion.

“Imports from Africa and the Americas remain marginal,” noted the Observatory, which confirmed that Italy and China remain France’s top leather suppliers.

*Source: French Customs, Economic Observatory of the Alliance France Cuir.

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Alexandre Vauthier departs fashion house he founded

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Alexandre Vauthier has departed the fashion house he founded just seven months after his brand was acquired by Californian e-tailer Revolve.

Alexandre Vauthier stepped down from his namesake label 15 years after founding the house in Paris. – DR

A friend close to the designer confirmed his departure, which comes 15 years after Vauthier launched his brand in Paris.

The house had been in financial difficulties since 2021, when the Commercial Court of Paris initiated a judicial administration procedure. The company subsequently went into receivership in February 2024.

As a result, the house sought buyers for several years, a process overseen by the Commercial Court in a bidding process. That ended last June when Revolve, based in Cerritos, California, acquired the Paris-based house.

Revolve declined any comment on Vauthier’s leaving, though the source said the couturier departed with several members of his design team.

When buying the house, Revolve already knew Vauthier well, having sold more than $4 million worth of Alexandre Vauthier products to its customers.

Describing itself as “a next-generation fashion site for Generation Y and Generation Z consumers,” Revolve was founded in 2003 by Mike Karanikolas and Michael Mente. When Revolve acquired control via a French holding named L.A. Rive Droite, founder Vauthier retained only 20% of the capital.

As part of the deal, Revolve promised to invest a total of €6 million in the house of Alexandre Vauthier, whose purchase price was just €250,000. Revolve further promised to “perpetuate the business of the Paris-based company” and “build a global brand” by leveraging its e-commerce platform, marketing capabilities, and pre-existing customer base and by taking “advantage of Revolve’s technological infrastructure” and its community of 2.6 million international customers.

Born in Agen in southwest France, Vauthier is known as a highly skilled couturier who honed his craft as a senior designer at Thierry Mugler before joining Jean-Paul Gaultier as design director of its couture collections for eight years. He debuted his first eponymous collection in 2009 and subsequently became an official haute couture house in 2014. He has been listed on the official calendar of the Fédération de la Haute Couture et de la Mode for the past decade.

Famed for his bravura sense of French high-octane glamour, Vauthier went on to dress Madonna, Beyoncé, Miley Cyrus, Lady Gaga, Fanny Ardant, and Monica Bellucci.

He left his house just three months after staging a haute couture presentation in January during the most recent couture season in Paris. Vauthier seemed in top form, presenting his Spring-Summer 2025 collection in the sumptuous salons of the Hôtel de la Monnaie, focusing on his tailoring expertise in a collection that featured three-piece suits, as well as jackets, almost baggy pants slipped into heeled ankle boots, and draped dresses revealing one shoulder or the back.

Alexandre Vauthier Haute Couture 2023
Alexandre Vauthier Haute Couture 2023 – Alexandre Vauthier

Based in an elegant building opposite the Palais de Tokyo in the 16th arrondissement, the Vauthier couture house employed some 30 people. In the most recent filing, the brand achieved a turnover of €12.7 million in the fiscal year ending March 31, 2023, according to accounts filed with the Commercial Court of Paris.

The house’s women’s ready-to-wear and haute couture collections, leather goods, and shoes were sold via its website, as well as through its network of multi-brand retailers such as the Neiman Marcus chain in the United States, the flagship store of Mytheresa in Munich, and the Parisian boutique Biondini located in a gallery on the Champs-Élysées.

Revolve boasts around $1 billion annual sales and owns a portfolio of around twenty brands through Alliance Apparel, which it acquired in 2014.

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No change to ASOS, Debenhams US distribution centre closure plans despite tariffs

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Both ASOS and fashion e-tail peer Boohoo/Debenhams have been planning to close their US distribution centres (DCs) as part of their turnaround drives and it seems there’s no change to their intentions despite the current tariff carnage.

ASOS

The two companies confirmed their decisions in response to a question from City AM.

The imposition of higher tariffs on goods imported into the US and the closing of tariff-free loopholes for low-cost goods means both companies’ exports to the country will attract duties. That said, even with local DCs, if the items are manufactured in other countries, they would still incur new taxes.

ASOS said in January that it’s closing its Atlanta, Georgia DC in the second half of the year and will serve US consumers from its automated fulfilment centre in Barnsley, Yorkshire, although there will also be a “smaller, more flexible local US site,” it said.

Meanwhile Boohoo/Debenhams had last autumn said it planned to stop fulfilling US orders from its Pennsylvania DC and would move them to its own automated DC in Sheffield, which is also in Yorkshire.

The moves would cut both firms’ costs and allow them to offer the wider variety of products that are available via their UK bases.

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