A luxury retailer is making its own high-end purchase: Saks Fifth Avenue's parent company is buying Neiman Marcus for $2.65 billion, in a merger that would create a dominant upscale department store in the U.S.
HBC, the owner of Saks and the Canadian chain Hudson's Bay, has agreed to buy Neiman Marcus, which also owns Bergdorf Goodman. Amazon will take a stake in the new combined company, slated to provide technology and logistics as part of the deal.
— Read more in Luxury department store Saks buys Neiman Marcus, and Amazon gets a stake at NPR.
This was shocking news to see.
Guessing it will save them both…
Wow, it is! But I’ve been reading for years that Neiman’s was in trouble. I wonder if they will maintain their separate stores in places like the Galleria? Or if they’ll truly merge into some one grand new thing? That’s what it sounds like from this article. Wow.
Good news…
But the amazon part..eye roll 😉
True enough, but if you want “technology and logistics”…
I heard this a few weeks ago, glad they will keep going. Still missing Barney’s.
I never bought anything there but perfume, but me too.
It makes me wonder if technology and logistics includes collecting and selling customer data.
I’m still mad at Hudson’s Bay for what they did to Lord & Taylor.