Draft:Saks Global

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Saks Global is an American retail group, created in July 2024 by the Hudson's Bay Company. WWD called the purchase of NMG and creation of Saks Global as creating a 'luxury retail empire'.

History

Saks Global was created in 2024 after the Canadian Hudson's Bay Company (HBC) purchased the American Neiman Marcus Group (NMG).^[1] The acquisiton was finalised in December 2024 and cost $2.7 billion for the purchase of the NMG.^[2] The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,^[3] HBC also owns the Hudson's Bay and Zellers department stores.

The purchase includes financing from Amazon (who will work with the group to “to innovate on behalf of customers and brand partners”)^[3], Authentic Brands Group, G-III Apparel Group and Salesforce.^[2] There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.^[2]

Assets

Saks Global Operating Group

Marc Metrick was appointed as the CEO after the groups creation.^[2] 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.^[2] He is also President and CEO of HBC Properties & Investments.

Bergdorf Goodman

Bergdorf Goodman is managed separately from the other Saks Global divisions.^[2]

Bergdorf Goodman

Bergdorf Goodman building

References

^ Moin, David (2024-12-11). "Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's". WWD. Retrieved 2024-12-24.
^ ^a ^b ^c ^d ^e ^f Moin, David (2024-12-23). "Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group". WWD. Retrieved 2024-12-24.
^ ^a ^b IV, Antonio Pequeño. "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes. Retrieved 2024-12-24.

[1] Moin, David (2024-12-11). "Saks Owner HBC Secures $2 Billion Bond to Buy Neiman's". WWD. Retrieved 2024-12-24.

[:0-2] ^ ^a ^b ^c ^d ^e ^f Moin, David (2024-12-23). "Saks Finalizes $2.7 Billion Deal to Buy the Neiman Marcus Group". WWD. Retrieved 2024-12-24.

[:1-3] IV, Antonio Pequeño. "Saks Global Inks $2.7 Billion Acquisition Of Neiman Marcus In Amazon-Backed Deal". Forbes. Retrieved 2024-12-24.

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