04
Jul
Amazon — which has long tried to boost its luxury offerings as part of its "everything store" concept — and Salesforce are getting in on it, too, with both taking minority stakes in the new company, Saks Global. The pair will provide technology and logistics support to the latest luxury giant, the Journal said.As e-commerce and the power of luxury conglomerates like LVMH and Kering have grown, department stores are facing diminishing returns. In 2020, Lord & Taylor filed for bankruptcy. Macy's announced in February that it would be closing 150 stores over the next three years. In a way,…