The retail industry is entering a period of profound transformation, marked by major moves such as Nordstrom’s privatization, the creation of Saks Global, and the evolving role of real estate strategies. Together, these developments underscore the challenges and opportunities facing traditional and luxury retailers.

2024 is proving to be the year of independent designers taking a hard look at their business from a longevity standpoint. As quite a few designers closed up shop earlier this year, others are reflecting on how their first attempts at running fashion brands taught them valuable lessons to implement into newer, more efficient versions of their businesses.