Why Are E-Concessions Catching On Among Luxury Brands And Retailers?

uring Nordstrom’s latest investor day, on Thursday, President Pete Nordstrom spoke about upcoming changes to the company’s strategy. Among them: It plans to grow its partner and shared revenue streams from 5% of the business to 30%, and concessions will be the primary method of doing so. Concessions and e-concessions have become popular models in luxury fashion retail in the last year. Farfetch’s CEO Jose Neves said in August that the company has added 20 of its top brands to an e-concession model, and Kering has been on a hiring spree in the last three months to fill roles related to managing e-concession relationships with retailers. Read more at Glossy.