Saks Fifth Avenue Owner to Acquire Neiman Marcus
The deal is valued at $2.65 billion.

The deal is valued at $2.65 billion, according to the company’s statement on Thursday.
When the transaction is complete, Toronto-based HBC will form Saks Global, a company that will include Saks Fifth Avenue, Saks Off 5th, Neiman Marcus, and Bergdorf Goodman.
The stores will continue to operate under their respective brands.
HBC came in at No. 15 on National Jeweler’s “$100 Million Supersellers List,” with $524 million in watch and jewelry sales in 2023.
Dallas-based Neiman Marcus Group came in at No. 17 with $486 million in watch and jewelry sales in 2023.
Saks Fifth Avenue has 39 stores while Neiman Marcus Group operates 36 Neiman Marcus stores, 5 Neiman Marcus Last Call locations, and one Bergdorf Goodman store.
“We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman,” said Richard Baker, HBC executive chairman and CEO.
Baker will also serve as executive chairman of Saks Global.
“This is an exciting time in luxury retail, with technological advancements creating new opportunities to redefine the customer experience, and we look forward to unlocking significant value for our customers, brand partners, and employees.”
Geoffroy van Raemdonck, CEO of Neiman Marcus Group, said the move is a “proactive choice in an evolving retail landscape that will create value for our customers and brand partners.”
“Saks Fifth Avenue shares our passion for connecting customers with the world’s best luxury fashion. With our complementary capabilities and a new long-term capital structure, the combined group will position our iconic Neiman Marcus and Bergdorf Goodman brands for continued success,” said van Raemdonck.
Current Saks.com CEO Marc Metrick will become CEO of Saks Global.
“Saks has remained steadfast in our commitment to be at the forefront of luxury fashion, meeting customers not just where they are, but where they are going,” said Metrick.
He lauded the work that Neiman Marcus Group’s team has done to evolve the company.
“Together, with our ongoing focus on innovation, we are primed to drive growth for our brand partners and create career development opportunities for the incredible talent across Saks Global,” he said.
Notably, Amazon will be an investor, said HBC, working with Saks Global "to innovate on behalf of customers and brands partners following the close of the transaction."
Saks Global will also include HBC’s U.S. real estate assets and Neiman Marcus Group’s real estate assets, which amounts to a portfolio valued at $7 billion.
Ian Putnam, currently president and CEO of HBC Properties and Investments, will become CEO of Saks Global Properties and Investments.
In a press release about the move, HBC outlined the strategy behind Saks Global.
Its priorities include advancing the luxury shopping experience, serving customers through personalized interactions, supporting established and emerging brands, and creating value and career development for employees.
HBC also owns Canadian retailer Hudson’s Bay, including its network of stores, TheBay.Com, and a C$2 billion ($1.47 billion) real estate portfolio.
HBC’s Canadian business will be a standalone entity separate from Saks Global.
Two notable retailers may also soon find new owners.
Macy’s has been in talks about a potential buyout while Nordstrom is reportedly looking to go private.
The Latest

Sponsored by Instappraise

The company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.

Connecting with your customers throughout the year is key to a successful holiday marketing push.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.


National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.

Designer Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”

Supplier Spotlight Sponsored by GIA

Expanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.

Located in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.

The episode about the family-owned jeweler will premiere May 17.

The Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.

The turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.

“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

May babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.

The deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.

What’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.

Now called The Instore Jewelry Show, it will include holiday-focused education, interactive workshops, and a window display contest.

It includes pricing for unenhanced Colombian emeralds in the fine to extra fine range.

The “Sea of Wonder” collection features pieces inspired by the ocean, from its waves to flora and creatures like urchins and sea turtles.

The 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.

G.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.

Emmanuel Raheb outlines the differences between the two platforms and posits that the most successful jewelers use both.

The miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.