NEIMAN AND SAKS TO BUILD ON EXPERIENCE-ORIENTED MARKETING AND OFFERINGS.
It’s been said that Millennials (those born between 1980 and 1994 and currently right around 30 to 45 years old) seek out experiences rather than possessions. Two luxury department stores, Neiman Marcus and Saks Fifth Avenue are currently poised to serve this clientele, one with a designer brand-focused marketing program, the other with a special travel partnership.
Neiman Marcus announced yesterday that, in partnership with luxury fashion house Ferragamo, it will activate in-store moments, and customer experiences, offering exclusive product to “Revolutionize Luxury Experiences” (the store’s current customer-centered mantra) for its customers. Seven stores across the country will host pop-up installations and feature store windows and visual displays that bring Ferragamo’s new and unmistakable red Pantone color across varying interpretations. The shoppable installations showcase items in vitrines, which are filled with sand dyed in Ferragamo red.
“Our customers come to us for extraordinary experiences, and we are excited to partner with Ferragamo on this unique expression of their brand that comes to life through activations and exclusive product offerings as part of our strategy,” says Lana Todorovich, Chief Merchandising Officer, Neiman Marcus. “
The relationship between Neiman Marcus and Ferragamo dates back over 50 years. Through the category expansion, Neiman Marcus will have six exclusive men’s and women’s looks from the Spring/Summer 2023 collection, and a selection of wholesale exclusive handbags.
Saks Fifth Avenue, on the other hand, will step beyond the world of apparel to work with Inspirato Incorporated an innovative luxury travel subscription brand. Through the new partnership, nearly 3,000 Saks stylists will be empowered as Inspirato brand ambassadors to introduce their clients to Inspirato’s luxury travel subscription offerings, both online and in Saks Fifth Avenue stores.
“At Saks, our strategy is centered on providing our customers with access to the very best in luxury,” said Marc Metrick, Chief Executive Officer, Saks. “As the largest luxury ecommerce platform in the U.S., it’s our mission to establish lasting, meaningful relationships with our customers and that includes delivering an assortment of experiences tailored to their unique lifestyles. We know our customers are excited about travel and look forward to introducing them to the many benefits that an Inspirato membership offers.”
As a key component of the relationship, which is expected to launch in the second quarter of 2023, Saks stylists will receive comprehensive training on Inspirato’s luxury travel subscription offerings. Saks stylists will then introduce Inspirato and its benefits to their clients with support from Inspirato’s sales team and a variety of brand collaborations.
As part of the agreement, all Inspirato members will be invited to apply for the SaksFirst Card, so that they can participate in the SaksFirst Rewards Program. Upon approval, they will be eligible for an elevated SaksFirst status level based on their annual Inspirato spend. SaksFirst members enjoy access to a variety of VIP benefits depending on their status, including complimentary gift cards, participation in Saks Beauty Rewards, invitations to special events and early access to sales. Saks and Inspirato will also collaborate on multi-channel marketing efforts and brand activations.
