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Americas' Saks Global completes acquisition of Neiman Marcus

24 Dec '24

2 min read

Americas' Saks Global acquires Neiman Marcus for $2.7 bn

Pic: JHVEPhoto - stock.adobe.com

Insights

Saks Global has acquired Neiman Marcus Group for $2.7 billion, uniting luxury brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
Emily Essner becomes president & chief commercial officer, while Marc Metrick and Ian Putnam lead key divisions.
Executive chairman Richard Baker highlighted plans to redefine luxury retail with innovation and prime real estate.

Marc Metrick will serve as chief-executive officer (CEO) of Saks Global Operating Group, and Ian Putnam will serve as CEO of Saks Global Properties & Investments. Both will report to Richard Baker, Saks Global’s executive chairman, Saks Global said in a press release.

“This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience,” said Richard Baker, executive chairman of Saks Global.