Hudson's Bay Co. acquires Neiman Marcus for $2.65bn, creating a luxury retail giant and giving Amazon a minority stake in Saks Global.
Hudson's Bay Co., parent of Saks Fifth Avenue, has agreed to acquire luxury retailer Neiman Marcus in a $2.65bn deal, creating a dominant player in the luxury retail market with 75 stores and 100 off-price stores. As part of the deal, Amazon takes a minority stake in Saks Global, the new group that includes Neiman Marcus. Marc Metrick, CEO of Saks and Saks.com, will run the combined company.
July 03, 2024
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