NEW YORK — Given the various initiatives underfoot at Saks Inc., it was fitting that chairman and chief executive officer Stephen I. Sadove opted to stand and occasionally walk across the stage at CUNY’s Graduate Center while talking shop Friday morning.
As a leadoff speaker at “Initiatives in Art and Culture,” he didn’t dance around the retail fallout from the recession, e-commerce opportunities and international expansion plans. In “Saks Fifth Avenue: One-of-a-Kind Luxury in the 21st Century,” Sadove repeatedly demonstrated how product and service continue to be the bedrock of Saks 87 years after it was founded. “We are a $3.5 billion retailer, which sounds big but it’s really not in the world of retail. Macy’s is a $30 billion retailer. Within luxury, we are a big player but within totality of retail, we are not,” he said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)