This is an old revision of this page, as edited by WikiRedactor (talk | contribs) at 04:29, 25 December 2024. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 04:29, 25 December 2024 by WikiRedactor (talk | contribs)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)| Company type | Division |
|---|---|
| Industry | Retail |
| Founded | December 23, 2024; 6 days ago (2024-12-23) |
| Area served | United States |
| Key people |
|
| Parent | Hudson'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 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
| 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
References
- Pequeño IV, Antonio (24 December 2024). "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes.
- ^ Schulz, Madeleine (2024-12-24). "The Saks-Neiman merger is on". Vogue Business. Retrieved 2024-12-25.
- 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.
- ^ IV, Antonio Pequeño. "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes. 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.
| Hudson's Bay Company | |||||
|---|---|---|---|---|---|
| Current holdings |
| ||||
| Former holdings |
| ||||
| History |
| ||||
| Related topics | |||||
 Category | |||||
| Department stores in the United States | |
|---|---|
| Current | |
| Defunct | |
| Online only | |
