The deal will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus’ namesake department store chain and Bergdorf…
Saks Fifth Avenue parent HBC said Thursday that it would purchase Nieman Marcus Group in a deal valued at $2.65 billion.
The deal comes amid what's been a turbulent period for traditional brick-and-mortar retail in the wake of the ecommerce boom.The combination will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus' namesake department store chain and Bergdorf Goodman.
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