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Revision as of 01:20, 26 December 2024

Saks Global is the American division of the Canadian holding company Hudson's Bay Company, founded in July 2024. It is also the successor to the Neiman Marcus Group, which was acquired by HBC in December 2024.

The division includes the operations and properties of luxury department stores Bergdorf Goodman, Neiman Marcus, and Saks Fifth Avenue; off-price department stores Neiman Marcus Last Call and Saks Off 5th; and home furnishings website Horchow. HBC-owned Canadian department stores 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

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.

• Neiman Marcus
• Saks Fifth Avenue
• Saks Off 5th

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.

• Neiman Marcus building
• Saks Fifth Avenue flagship store

Bergdorf Goodman

Bergdorf Goodman is managed separately from the other Saks Global divisions.

• Bergdorf Goodman

• Bergdorf Goodman building

Authentic Luxury Group

A joint-venture created in October 2024 in partnership with the Authentic Brands Group.

• Barney's New York
• Hervé Léger
• Judith Leiber
• Vince

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.
7. "Authentic Brands Group and Saks Global Launch New Luxury Platform: Authentic Luxury Group". Authentic Brands Group. 2024-10-09. Retrieved 2024-12-25.
8. "Saks Finalises Acquisition of Neiman Marcus Group". The Business of Fashion. 2024-12-24. Retrieved 2024-12-25.

v t e Hudson's Bay Company
Current holdings	Bergdorf Goodman Hudson's Bay Neiman Marcus Saks Fifth Avenue Saks Off 5th SaksWorks Zellers (1978–2020, 2023–present)
Former holdings	Shop-Rite (1972–1982) Designer Depot (2004–2008) Fortunoff (2008–2009) Fields (1978–2012) I. G. Baker Company (1891) Freimans (1972-1973) Morgan's (1960-1972) Simpsons (1978-1991) Towers (1990–1991) Woodward's (1993) Kmart Canada (1998) Gilt (2015–2018) Galeria Kaufhof (2015–2018) Home Outfitters (1998–2019) Lord & Taylor (2012–2019)
History	Rupert's Land Rupert's Land Act 1868 Deed of Surrender Hudson's Bay Trading Company New Caledonia North West Company North-Western Territory Trading posts Pemmican War York Factory Express Ships Aklavik Anson Northup Baychimo Beaver Cadboro Columbia Fort Chesterfield Grahame Hazelton Labouchere Maud Mount Royal Nascopie Nonsuch Otter Pelican Princess Louise Strathcona Vancouver Equipment Capote Mackinaw jacket Point blanket York boat
Related topics	Company archive Flag NRDC Equity Partners Rewards program
Category

• Clothing retailers of the United States
• Department stores of Canada
• Department stores of the United States
• Hudson's Bay Company
• Online clothing retailers of Canada
• Online clothing retailers of the United States
• Saks Fifth Avenue