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0. In a move that could reshape the landscape of luxury retail, the parent company of has announced the acquisition of Neiman Marcus for a staggering $2.65 billion.
This landmark deal will merge two of the nation’s most prestigious upscale retailers, creating a combined entity known as Saks Global. Saks Global will boast an impressive portfolio of 75 stores, including two iconic Bergdorf Goodman locations and a network of 100 off-price outlets. The merger will bring together a wealth of experience and expertise, with a particular focus on the renowned sales teams at Neiman Marcus, which HBC CEO Richard Baker highlighted as a key motivator for the acquisition.
Amazon is playing a crucial role in facilitating the deal by taking a minority stake in Saks Global. This marks Amazon’s first investment in a brick-and-mortar retailer since its acquisition of Whole Foods in 2017. The online giant’s involvement is expected to bring significant advantages in logistics and e-commerce, particularly in appealing to younger consumers who are increasingly shopping online.
Key to this acquisition is the role of Amazon, which is taking a minority stake in Saks Global. This partnership is not just a financial endorsement but a strategic move that could revolutionize the way luxury products are sold. This deal marks Amazon’s first investment in a brick-and-mortar luxury retailer since .
