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

Chicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.

Owners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.

The “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”

Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.

The jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.


The update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.

Emmanuel Raheb discusses the rise of “GEO” and the importance of having well-written, quality content on your website.

With refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.

Each received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.

Catherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

We asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.

Experts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.

Beth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”

Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.

The Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.

The campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.

Rachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.

After the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.

The industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.

The vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.

Former Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.

Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.

The April event will feature a new VIP shopping day requiring a special ticket.

Bulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.

In a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.

Smith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.

The brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
























