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Marc Metrick

Business
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner
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…

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by Joe Lombardi