Neiman Marcus Group CEO Jeffrey Van Raemdonck opens the company’s new Dallas location at CityPlace in 2023. [Photo: Neiman Marcus Group]
Geoffroy van Raemdonck
CEO
Neiman Marcus Group
About Saks Fifth Avenue’s parent company HBC’s acquisition of Neiman Marcus for $2.65 billion.
News of last week’s earthquake in the luxury retail industry rippled from Dallas to New York and beyond. Saks Fifth Avenue Parent Company HBC I am getting Neiman Marcus Group It has launched a new tech-enabled luxury retail company for $2.65 billion. Saks Global. and Amazon is a key partner and investor in the transaction and will work with Saks Global following completion to “innovate for our customers and brand partners,” the companies said.
“This announcement is a testament to our team’s unwavering commitment to leveraging our differentiated business model to build rewarding customer relationships,” said Neiman Marcus Group’s CEO. Jeffrey Van Raemdonck The statement added: “Saks Fifth Avenue shares our passion for bringing the world’s best luxury fashion to our customers. With our complementary capabilities and new long-term capital structure, the combined group will be uniquely positioned to join the iconic Neiman Marcus and Bergdorf Goodman It contributes to the continued success of the brand.”
Saks Global’s retail and real estate assets, which include Saks Fifth Avenue, Saks Off Fifth, Neiman Marcus and Bergdorf Goodman, will continue to operate under their respective brands. Mark Metric He will become CEO of Saks Global.
The mega-merger aims to advance all of its tech-focused brands, with Saks Global “strengthening its technology-driven approach to personalization, leveraging first-party data and AI to create individualized online shopping experiences and empower its sales associates to better serve customers,” the companies said in a statement.
Additionally, the combined company plans to “further build on” each retail brand’s history of innovation, with Saks Global “driving further advancements in online capabilities and fulfillment processes to further improve access to merchandise,” the companies said.
“Saks remains steadfast in its commitment to be at the forefront of luxury fashion, meeting customers not only where they are now but where they are going,” Metrick said in a statement. “We respect and admire NMG and the contributions its team has made to the company’s development. With our continued focus on innovation, we are ready to foster growth for our brand partners and create career development opportunities for incredible talent across Saks Global.”
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