HBC to acquire Neiman Marcus Group for $2.65 billion
Associated media - Associated media HBC, the parent company of Saks Fifth Avenue, has announced its acquisition of the Neiman Marcus Group for $2.65 billion. This merger will combine two iconic luxury retailers under one roof. The new entity, Saks Global, will encompass Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman. Richard Baker, CEO of HBC, expressed his excitement about the merger, highlighting the anticipated benefits for customers, partners, and employees. He emphasized the potential for technological advancements to transform the luxury retail experience. Key leadership changes include Marc Metrick, currently CEO of Saks.com, who will become…
