Editor’s Note
The parent company of Saks Fifth Avenue has finalized a $2.65 billion deal to acquire Neiman Marcus, with Amazon taking a minority stake. This merger signals a major realignment in the luxury retail sector.
Multiple overseas media outlets have reported that HBC, the parent company of the luxury department store “Saks Fifth Avenue,” based in New York, USA, has finalized an acquisition agreement with the American department store “Neiman Marcus.” The transaction is valued at $2.65 billion (approximately ¥428 billion). As part of the deal, Amazon is expected to invest as a minority shareholder.
According to reports, the two companies began merger negotiations around the summer of 2023. The merger was finalized as both have been struggling with a prolonged slump in luxury goods consumption in the years following the COVID-19 pandemic. The new company to be launched post-merger will be named “Saks Global” and is scheduled to be officially announced following board approval.
Amazon will become a minority shareholder in the new company and is expected to provide technology and logistics services. Additionally, Salesforce, which develops business software, is also reportedly considering an investment in the new company.
