Saks Fifth Avenue filed for Chapter 11 bankruptcy protection in January 2026, and the reaction in certain corners of the fashion industry was surprise — which was itself surprising. The signals had been there for years: the HBC acquisition that never quite resolved, the digital-physical integration strategy that kept failing to cohere, the gradual erosion of the brand\’s cultural authority as the department store model aged out of relevance with the customers who had the most money to spend.
The department store as a format peaked somewhere around 2008. What replaced it — online luxury retail, direct-to-consumer brand boutiques, the curator-retailer model — has been more interesting, more profitable per square foot, and significantly more aligned with how the customer that luxury brands care about actually shops.
Here\’s where that customer goes now.
What Saks Was (and What It Wasn\’t)
Saks Fifth Avenue was a discovery environment. You went to Saks because you weren\’t sure what you wanted, and the curation — across brands, categories, and price points — helped you figure it out. The personal shopping department was genuinely excellent. The beauty floor was unmatched in its category breadth.
What Saks was not, in its final years, was a place where the most serious luxury customers bought the things they most seriously wanted. Those purchases had migrated to brand boutiques (for the full experience), to Mytheresa and Net-a-Porter (for curation and speed), and to consignment platforms for pre-owned pieces.
The Chapter 11 filing formalized a transition that had already largely occurred.
Where to Shop Now
For Current-Season Luxury Ready-to-Wear
Mytheresa — mytheresa.com
The European platform that has consistently outperformed its competitors on curation and service. Mytheresa\’s edit is tighter and more considered than Net-a-Porter\’s, and the brand relationships are deeper — they frequently carry exclusive pieces and limited editions. If you\’re buying investment-level ready-to-wear, this is the primary destination.
Net-a-Porter — net-a-porter.com
The larger, more comprehensive platform. Better for discovery across a wider brand range, with particularly strong coverage of contemporary brands that sit below the traditional luxury tier. The EIP (Extremely Important People) customer service program is genuinely excellent for high-volume buyers.
Ssense — ssense.com
The Montreal-based platform with the sharpest editorial sensibility of the three. If you want to understand what\’s happening in fashion at its most directional — what the buyers and stylists are paying attention to before it reaches broader awareness — Ssense is where to look. Strong on brands that are having critical moments before commercial ones.
For Accessories and Bags
Direct from brand boutiques: For significant handbag purchases, the brand boutique remains the correct destination — both for authenticity confidence and for the wait-list access that comes with a client relationship. Build relationships with an SA at the brands you care about most.
Nordstrom — nordstrom.com
Has quietly become one of the strongest luxury multi-brand retailers in the US, with an excellent handbag department and an online platform that functions reliably. The Nordstrom personal stylist service has improved significantly in the past two years.
For Pre-Owned and Archive Pieces
The RealReal — therealreal.com
The authentication process has improved substantially in the past eighteen months following criticism and regulatory attention. For Hermès, Chanel, Bottega Veneta, and The Row — where authentication matters most — The RealReal is the most reliable resale destination in the US.
Vestiaire Collective — vestiairecollective.com
The European platform with the deepest archive of pieces from the major houses. Particularly good for Loewe under Anderson, Prada archive, and Dior Galliano-era pieces that have become serious collector items.
For Beauty
Sephora — sephora.com
Absorbed much of the beauty discovery function that Saks previously served, and has done it more effectively at scale. The loyalty program is genuinely valuable, and the curation has improved substantially.
Nordstrom Beauty — nordstrom.com
The strongest alternative to the department store beauty experience, with personal shopping available in-store and a broader luxury brand selection than Sephora.
What This Means for Fashion Culture
The Saks closure isn\’t just a retail story — it\’s a cultural marker. The department store was one of the last institutions in American life where luxury was physically shared, where a woman buying her first designer piece stood beside a woman buying her hundredth. Online luxury retail, for all its efficiency, is a private experience. Something in the culture changes when the public spaces of aspiration disappear.
Whether the boutique, the designer pop-up, or some format we haven\’t invented yet fills that function remains to be seen. But the shift is real, and it\’s permanent.
*Nia Johnson is Jebae\’s Culture & Industry Writer, based in London.*
