Editor’s Note
This article details the recent $2.65 billion acquisition of Neiman Marcus Group by Saks Fifth Avenue’s parent company, HBC, a significant consolidation in the luxury retail sector.
Recently, HBC, the parent company of the US luxury department store chain Saks Fifth Avenue, announced that it has completed the acquisition of another established luxury department store group, Neiman Marcus Group, in a deal valued at $2.65 billion.
Saks Fifth Avenue is a well-known American luxury department store, founded in 1924. Its flagship store is located on Fifth Avenue in New York City and is renowned for offering high-end fashion, accessories, beauty products, and home goods. Neiman Marcus Group was founded in 1907 and is a premier American luxury retail group headquartered in Dallas, Texas. It owns renowned brands such as Neiman Marcus, Bergdorf Goodman, and Last Call. The retail group is famous for providing high-end fashion and personalized services, creating a unique shopping atmosphere through luxurious displays, personal shopping services, and cutting-edge digital technology.
