Saks Global Completes $2.7 Billion Acquisition of Neiman Marcus

The deal creates a luxury retail conglomerate combining Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman under one umbrella with plans for innovation and transformation.

• The acquisition unites Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, and Saks Off 5th into a single entity with a combined revenue of approximately $10 billion.
• Saks Global plans to integrate AI and data-driven personalization to enhance the customer experience across its brands.
• The transaction was backed by major investors, including Amazon, Salesforce, Authentic Brands Group, and G-III Apparel Group, with innovative financing strategies like $2.2 billion in bonds.
• Leadership changes include Marc Metrick as CEO of Saks Global Operating Group and Tracy Margolies as President of Bergdorf Goodman, alongside the departure of several Neiman Marcus executives.
• Saks Global will evaluate potential store closures and operational changes while maintaining distinct brand identities for each retailer.

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