MajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B DealMajorsDec 30, 2024
Saks Global Finalizes Acquisition of Neiman Marcus
The retailer’s portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
Saks Global has acquired Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman. Seen here is a Neiman Marcus store in Fort Worth, Texas.
New York—Saks Global has completed its acquisition of Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman.
With the deal valued at $2.7 billion finalized, Saks Global’s portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
Following news of the acquisition in July, Toronto-based HBC, the owner of Saks Fifth Avenue, formed Saks Global, an entity that included Saks Fifth Avenue and Saks Off 5th, and now also includes Neiman Marcus and Bergdorf Goodman.
Each retailer will continue to serve customers under their respective brands.
“This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with tremendous growth potential,” said Richard Baker, executive chairman of Saks Global.
Marc Metrick, the former Saks.com CEO, will serve as CEO of Saks Global Operating Group.
Ian Putnam, the former president and CEO of HBC Properties and Investments, will be CEO of Saks Global Properties and Investments.
Both executives will report to Baker.
Related stories will be right here …
With the deal valued at $2.7 billion finalized, Saks Global’s portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
Following news of the acquisition in July, Toronto-based HBC, the owner of Saks Fifth Avenue, formed Saks Global, an entity that included Saks Fifth Avenue and Saks Off 5th, and now also includes Neiman Marcus and Bergdorf Goodman.
Each retailer will continue to serve customers under their respective brands.
“This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with tremendous growth potential,” said Richard Baker, executive chairman of Saks Global.
Marc Metrick, the former Saks.com CEO, will serve as CEO of Saks Global Operating Group.
Ian Putnam, the former president and CEO of HBC Properties and Investments, will be CEO of Saks Global Properties and Investments.
Both executives will report to Baker.
Saks Global has also announced some newly created roles and appointments.
The company has also established the role of president and chief commercial officer, which will be held by Emily Essner, who was promoted from her former role as chief marketing officer at Saks.
“This role will break the mold for how we bring the luxury shopping experience to life. Emily is the ideal person to lead this critical new function and advance our strategy to meet customers’ increasing demand for individualized experiences,” said Metrick.
Tracy Margolies, who previously served as chief merchandising officer for Saks, has been appointed to president of Bergdorf Goodman.
“Tracy’s deep expertise and track record of leading results-driven strategies will propel Bergdorf Goodman into the future while honoring its unique legacy,” said Metrick.
Saks Global created another new role as it looks to support its transformation strategy.
The company appointed Bill Bine, the former chief supply chain officer for Neiman Marcus Group, to the role of chief transformation officer.
“A highly strategic, results-oriented executive, Bill’s significant experience leading large-scale business transformation and operations in retail will be instrumental to our integration journey,” said Metrick.
The deal was financed through a combination of equity contributions from new investors, including Amazon, Authentic Brands Group, Salesforce, M. Klein & Company, and G-III Apparel Group, as well as the issuance of $2.2 billion of senior secured notes and an asset-based lending revolving credit facility.
More on Majors
The Latest
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
