Story3 invests in luxury ecommerce platform Saks.com

Story3 Capital Partners has announced a significant new investment in luxury ecommerce destinations Saks.com.

Commenting on funding in Saks, Peter Comisar, founder and managing partner of Story3 and former Goldman Sachs Partner, stated, "We believe we are at the early innings of powerful global growth and penetration for luxury brands. As new international regions become enchanted with the culture of fashion, no one is better positioned to be the beacon of taste and omni-channel excellence than Saks."

The company said in a statement that the new investment provides liquidity for Saks' next wave of growth including support for its distinguished product curation driven partnerships with the world's leading luxury brands.

"Saks has exponential growth potential empowered by the tipping point of AI, personalization and resultant cohort monetization. As such, Saks is well positioned to be the leading global voice and influencer in luxury," added Samir Shah, Story3 partner.