Find Your Daily Voice
Essex-Manchester by the Sea
Your Local News for Essex and Manchester by the Sea, Massachusetts
Wednesday, dec 4
27°
Follow
News
Schools
Business
Obituaries
Police & Fire
Weather
Lifestyle
Politics
Sports
Traffic
Tags
Jobs
Shop
Support Us
Essex-Manchester by the Sea
Follow
Find Your Daily Voice
News
Schools
Business
Obituaries
Police & Fire
Weather
Lifestyle
Politics
Sports
Traffic
Tags
Jobs
Shop
Support Us
Home
About us
All sites
Advertise with us
Contact us
Terms of use
Privacy policy
Code of ethics
Site Map
© 2024 Cantata Media
27°
Wednesday, dec 4
Tag:
Richard Baker
Business
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner
Luxury department store Saks Fifth Avenue has acquired rival Neiman Marcus, with Amazon jumping on board with a stake in the newly combined company. HBC, the parent company of Saks, entered into an agreement to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion. As part of the deal, Amazon will provide logistics in what HBC says will be a "technology-powered luxury retail company." “We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus, and Ber…