That’s how much producer prices rose between May 2020 and May 2021, according to the U.S. Labor Department. The rise in prices is the largest increase on record.
“I am honored to join the Saks board and to be a part of a company that is paving the future of luxury retail. This is an exciting opportunity for me to combine two of my personal passions — a love of fashion and teaming up with brands that have the potential to lead while making an impact on the communities they serve. I look forward to working with the Saks team, and to having a direct impact on the company’s future success, the fashion community and its customers.”
— NBA All-Star James Harden, who plays for the Brooklyn Nets, on being appointed as an independent board member to Saks’ e-commerce business, a standalone business that’s separate from Saks Fifth Avenue department stores. Harden made a minority investment in the business. Saks said Harden’s appointment is part of its strategy to become the “preeminent luxury e-commerce platform.” Saks’ Executive Chairman Richard Baker said, “With experience in growing businesses and as someone who values self-expression through fashion, I am confident that [Harden] will bring a distinct point of view that will help us better deliver for our customers.”
The world of offline retail is in flux, and there is a seemingly endless number of alternative realities that could play out in this unique environment. Want to learn more? Download this whitepaper.
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