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'''Saks Global''' is the American division of the Canadian holding company ]. It was founded with the completion of Hudson Bay Company's acquisition of the ] on December 23, 2024.
'''Saks Global''' is the American division of the Canadian holding company ]. It was founded with the completion of Hudson Bay Company's acquisition of the ] on December 23, 2024. The division includes the operations and real estate of the full-line ] stores ] (based in ]), ] (based in ]), and ] (based in New York City); ] stores Neiman Marcus Last Call and ]; and home furnishings website Horchow. HBC-owned department store ] (based in ]) and Saks Fifth Avenue stores in Canada are managed by a distinct Canadian division with this reorganization.<ref name="Antonio">{{cite news |last1=Pequeño IV |first1=Antonio |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/ |work=Forbes |date=24 December 2024}}</ref><ref name="MADELEINE">{{cite news |last1=SCHULZ |first1=MADELEINE |title=The Saks-Neiman merger is on |url=https://www.voguebusiness.com/story/companies/the-saks-neiman-merger-is-on |work=Vogue Business |date=December 24, 2024}}</ref>

The division includes the operations and properties of the luxury and ] department stores ], ], ] (all based in ]), ], ] (both based in ]) and the home furnishings website ] (based in ]).<ref name="Antonio">{{cite news |last1=Pequeño IV |first1=Antonio |date=24 December 2024 |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/ |work=]}}</ref><ref name=":2">{{Cite web |last=Schulz |first=Madeleine |date=2024-12-24 |title=The Saks-Neiman merger is on |url=https://www.voguebusiness.com/story/companies/the-saks-neiman-merger-is-on |access-date=2024-12-25 |website=] |language=en-US}}</ref> HBC's other Canadian department stores chains (] and ]) are managed by a distinct Canadian division.


== History == == History ==
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. 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 the purchase cost $2.7 billion.<ref name=":2" /> 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 was supported with 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">{{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=] |language=en-US}}</ref> There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.<ref name=":0" /> In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the groups ambitions and that they are now thinking of what the entity might look like internationally.<ref name=":2" />


== Nameplates == == Nameplates ==

Revision as of 04:03, 25 December 2024

Saks Global
Company typeDivision
IndustryRetail
FoundedDecember 23, 2024; 6 days ago (2024-12-23)
Area servedUnited States
Key people
ParentHudson's Bay Company
Subsidiaries

Saks Global is the American division of the Canadian holding company Hudson's Bay Company. It was founded with the completion of Hudson Bay Company's acquisition of the Neiman Marcus Group on December 23, 2024.

The division includes the operations and properties of the luxury and off-price department stores Bergdorf Goodman, Saks Fifth Avenue, Saks Off 5th (all based in New York City), Neiman Marcus, Neiman Marcus Last Call (both based in Dallas) and the home furnishings website Horchow (based in Irving). HBC's other Canadian department stores chains (Hudson's Bay and Zellers) are managed by a distinct Canadian division.

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 the purchase cost $2.7 billion. 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 was supported with 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. In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the groups ambitions and that they are now thinking of what the entity might look like internationally.

Nameplates

List of Saks Global nameplates
Name Year
founded 		Year
acquired 		Notes
Bergdorf Goodman 1899 2024
Horchow 1971 2024
Neiman Marcus 1907 2024
Neiman Marcus Last Call 2024
Saks Fifth Avenue 1867 2013
Saks Off 5th 1990 2013

Divisions

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.

Notes

  1. ^ Acquired by Hudson's Bay Company before the establishment of Saks Global

References

  1. Pequeño IV, Antonio (24 December 2024). "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes.
  2. ^ Schulz, Madeleine (2024-12-24). "The Saks-Neiman merger is on". Vogue Business. Retrieved 2024-12-25.
  3. Singh, Prachi. "Saks Global completes the acquisition of Neiman Marcus". Fashion United.
  4. Moin, David (2024-12-11). "Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's". WWD. Retrieved 2024-12-24.
  5. ^ IV, Antonio Pequeño. "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes. Retrieved 2024-12-24.
  6. ^ Moin, David (2024-12-23). "Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group". WWD. Retrieved 2024-12-24.
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