Timberland, Saks make a deal
The Timberland Company, with its outdoor rugged image, has made it into the epitome of upscale urban fashion: Saks Fifth Avenue.
Starting this month, Timberland will be offering a line of hand-sewn boat shoes exclusive to Saks stores in New York, Boston and Chicago, the company announced Friday.
The company also will offer other styles from the Timberland Boot Company and Abington collections
“We are proud to partner with Saks Fifth Avenue, a retailer that shares our history of style and commitment to modern craftsmanship,” said Tom Lucas, vice president of sales, Timberland North America. “We are excited to see the response from Saks customers, who are known for their discerning taste and appreciation for premium quality and authentic style.”
The Stratham, N.H.-based company will launch a pop-up shop in the Saks flagship store on New York City’s Fifth Avenue on Sept. Septembers 9, in celebration of “Fashion’s Night Out,” a city-wide shopping event to support local retailers across New York. A hand sewer from the company’s Dominican Republic factory – where Timberland’s hand-sewn shoes are made – will be on-site to demonstrate the art of building a premium shoe from Sept. 10 to Sept. 12.
Both companies have seen better years.
Timberland reported a second-quarter net loss of $19.2 million, or 34 cents a share, compared with a second-quarter 2008 net loss of $18.9 million in the same quarter the previous year, according to its last quarterly filing, released on Aug. 8.
Meanwhile, Saks, in its report filed Monday, posted its sixth consecutive quarterly loss: $54.5 million, or 39 cents per share, for the three months ended Aug. 1, with quarterly sales decreasing 21 percent.
Timberland stock closed Monday at $12.98, down 28 cents. Saks Inc. stock closed at $6.11, down 26 cents. – BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW