This is an old revision of this page, as edited by WikiCleanerBot (talk | contribs) at 10:59, 28 December 2024 (v2.05b - Bot T20 CW#61 - Fix errors for CW project (Reference before punctuation)). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 10:59, 28 December 2024 by WikiCleanerBot (talk | contribs) (v2.05b - Bot T20 CW#61 - Fix errors for CW project (Reference before punctuation))(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) This article is about the division of the Hudson's Bay Company. For the department store chain, see Saks Fifth Avenue. For the defunct holding company, see Saks, Inc. | |
| Company type | Division |
|---|---|
| Industry | Retail |
| Founded | July 2024; 5 months ago (2024-07) |
| Headquarters | New York City, New York, United States |
| Area served | United States |
| Key people |
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| Parent | Hudson's Bay Company |
| Subsidiaries |
|
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 store Hudson's Bay is managed by a distinct Canadian division with this reorganization.
History
Saks Global was created in 2024 after the Canadian Hudson's Bay Company (HBC) purchased the American Neiman Marcus Group (NMG). The acquisition was finalized 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.
Business units
- 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.
- Authentic Luxury Group
Authentic Luxury Group is a joint-venture created in October 2024 in partnership with the Authentic Brands Group.
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 |
Notes
References
- Latham, Tori (26 December 2024). "Saks Officially Acquires Neiman Marcus for $2.7 Billion".
- 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.
- ^ Schulz, Madeleine (2024-12-24). "The Saks-Neiman merger is on". Vogue Business. Retrieved 2024-12-25.
- ^ 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.
- "Authentic Brands Group and Saks Global Launch New Luxury Platform: Authentic Luxury Group". Authentic Brands Group. 2024-10-09. Retrieved 2024-12-25.
- "Saks Finalises Acquisition of Neiman Marcus Group". The Business of Fashion. 2024-12-24. Retrieved 2024-12-25.
| Hudson's Bay Company | |||||
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 Category | |||||
| Department stores in the United States | |
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| Current | |
| Defunct | |
| Online only | |
