Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores

Pre-owned model, including rentals and resales, establishes luxury as rarity, uniqueness and power of objects granted to them by everyone who touched them, owned them, and wore them.

Hospitality is dispersing — from a few destinations to many, from hotel towers to individual rooms — and value is shifting from from asset-heavy hotel companies to the network-based Airbnb. As knowledge workers come back to the office after a year of working from home, they won’t want to give up their newfound flexibility. The rise of gig workers, ... See more

“Brands are forced to rethink not just the format, location and permanence of their stores but it also begs the question of how to measure their value when you can no longer use sales as a single success metric. It requires brands to look at the full equation,” says PwC’s Windsor.