A Challenged Luxury Shoe Business Is Bracing for Major Impact Ahead of Probable Saks Global Bankruptcy

A Saks Global bankruptcy would have a significant impact on independent luxury shoe designers and fashion houses that derive a large percentage of sales from the footwear category. “In some cases, footwear represents 40 percent to 50 percent of the designers’ businesses,” said Gary Wassner, CEO of Hilldun Corp., the factoring firm that works with many of the luxury brands and designers who sell to the retail banners Saks Fifth Avenue and Neiman Marcus. More from WWD According to Wassner, these companies ...