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| == History == | == History == | ||
| Saks Global was created in 2024 after the Canadian ] (HBC) purchased the American ] (NMG).<ref>{{Cite web |last=Moin |first=David |date=2024-12-11 |title=Saks Owner HBC Secures $2 Billion Bond to Buy Neiman’s |url=https://wwd.com/business-news/retail/saks-owner-hbc-secures-2-billion-bond-to-close-deal-to-buy-neiman-marcus-group-1236760588/ |access-date=2024-12-24 |website=WWD |language=en-US}}</ref> The acquisiton was finalised in December 2024 and cost $2.7 billion for the purchase of the NMG.<ref name=":0">{{Cite web |last=Moin |first=David |date=2024-12-23 |title=Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group |url=https://wwd.com/business-news/retail/saks-2-7-billion-deal-neiman-marcus-group-finalized-1236777177/ |access-date=2024-12-24 |website=WWD |language=en-US}}</ref> The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,<ref name=":1">{{Cite web |last=IV |first=Antonio Pequeño |title=Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal |url=https://www.forbes.com/sites/antoniopequenoiv/2024/12/23/saks-global-inks-27-billion-acquisition-of-neiman-marcus-in-amazon-backed-deal/ |access-date=2024-12-24 |website=] |language=en}}</ref> HBC also owns the ] and ] department stores. | Saks Global was created in 2024 after the Canadian ] (HBC) purchased the American ] (NMG).<ref>{{cite web |last1=Singh |first1=Prachi |title=Saks Global completes the acquisition of Neiman Marcus |url=https://fashionunited.com/news/business/saks-global-completes-the-acquisition-of-neiman-marcus/2024122363662 |publisher=Fashion United}}</ref><ref>{{Cite web |last=Moin |first=David |date=2024-12-11 |title=Saks Owner HBC Secures $2 Billion Bond to Buy Neiman’s |url=https://wwd.com/business-news/retail/saks-owner-hbc-secures-2-billion-bond-to-close-deal-to-buy-neiman-marcus-group-1236760588/ |access-date=2024-12-24 |website=WWD |language=en-US}}</ref> The acquisiton was finalised in December 2024 and cost $2.7 billion for the purchase of the NMG.<ref name=":0">{{Cite web |last=Moin |first=David |date=2024-12-23 |title=Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group |url=https://wwd.com/business-news/retail/saks-2-7-billion-deal-neiman-marcus-group-finalized-1236777177/ |access-date=2024-12-24 |website=WWD |language=en-US}}</ref> The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,<ref name=":1">{{Cite web |last=IV |first=Antonio Pequeño |title=Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal |url=https://www.forbes.com/sites/antoniopequenoiv/2024/12/23/saks-global-inks-27-billion-acquisition-of-neiman-marcus-in-amazon-backed-deal/ |access-date=2024-12-24 |website=] |language=en}}</ref> HBC also owns the ] and ] department stores. | ||
| The purchase includes financing from ] (who will work with the group to “to innovate on behalf of customers and brand partners”)<ref name=":1" />, ], ] and ].<ref name=":0" /> There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.<ref name=":0" /> | The purchase includes financing from ] (who will work with the group to “to innovate on behalf of customers and brand partners”)<ref name=":1" />, ], ] and ].<ref name=":0" /> There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.<ref name=":0" /> | ||
Revision as of 14:39, 24 December 2024
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Saks Global is a luxury retail and real estate company with a portfolio that includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
History
Saks Global was created in 2024 after the Canadian Hudson's Bay Company (HBC) purchased the American Neiman Marcus Group (NMG). The acquisiton was finalised in December 2024 and cost $2.7 billion for the purchase of the NMG. The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th, HBC also owns the Hudson’s Bay and Zellers department stores.
The purchase includes financing from Amazon (who will work with the group to “to innovate on behalf of customers and brand partners”), Authentic Brands Group, G-III Apparel Group and Salesforce. There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.
Assets
Saks Global Operating Group
Marc Metrick was appointed as the CEO after the groups creation. He was previously CEO of Saks the digital arm of Saks Fifth Avenue.
Saks Global Properties & Investments
Ian Putnam was appointed as the CEO after the groups creation. He is also President and CEO of HBC Properties & Investments.
Bergdorf Goodman
Bergdorf Goodman is managed separately from the other Saks Global divisions.
References
- Singh, Prachi. "Saks Global completes the acquisition of Neiman Marcus". Fashion United.
- Moin, David (2024-12-11). "Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's". WWD. Retrieved 2024-12-24.
- ^ Moin, David (2024-12-23). "Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group". WWD. Retrieved 2024-12-24.
- ^ IV, Antonio Pequeño. "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes. Retrieved 2024-12-24.
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| Department stores in the United States | |
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| Online only | |
