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
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
Weekly QuizJan 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
MajorsJan 22, 2026
Lugano Diamonds Finds a BuyerInvestment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
SourcingJan 22, 2026
De Beers To Release ‘A Diamond Is Forever’ BookIt explores the history of the iconic tagline and the company’s strategy to redefine the role of diamonds in society.
MajorsJan 22, 2026
Swarovski Appoints New North America PresidentRetail veteran Sindhu Culas has stepped into the role.
MajorsJan 22, 2026
Stuller Names New Chief Merchandising, Marketing, Sales OfficerTaylor Burgess, who has been at Stuller since 2013, was promoted to the newly created role.
PodcastsJan 21, 2026
Episode 1: High Gold Prices, the Diamond Dilemma, & What’s NextWas 2025 a good year for jewelers? Did lab-grown diamonds outsell natural? Find out on the first episode of the “My Next Question” podcast.
EditorsJan 21, 2026
6 Jewelry Designers Poised to Have a Breakout Year in 2026Whether you recognize their jewels or are just discovering them now, these designers’ talent and vision make them ones to watch this year.
CrimeJan 21, 2026
4 Men Charged in $1.7M California Smash-and-Grab Jewelry Store RobberyPlus, JSA’s Scott Guginsky discusses the need for jewelers to take more precautions as the gold price continues to climb.
IndependentsJan 21, 2026
Delaware Jeweler Felice Morris Dies at 91Morris’ most cherished role was being a mother and grandmother, her family said.
CollectionsJan 21, 2026
Bulgari Weaves New Collection of ‘Vimini’ Creations“Vimini” is the first chapter of the “Bulgari Eternal” collection that merges archival pieces with modern creations.
Events & AwardsJan 21, 2026
Jewelers Mutual’s ‘Conversations’ Retreat Returns to Discuss AIThe third edition will be held in Half Moon Bay, California, in April.
Events & AwardsJan 20, 2026
These Are the 5 Finalists for the David Yurman Gem Awards GrantThe grant is in its first year and was created to recognize an exceptional fine jewelry designer whose star is on the rise.
ColumnistsJan 20, 2026
First-Party Data Is the Most Valuable Asset Jewelers Have in 2026Data built on trust, not tracking, will be key to success going forward, as the era of “borrowed attention” ends, Emmanuel Raheb writes.
MajorsJan 20, 2026
Borsheims Hires New Assistant Facilities ManagerHeath Yarges brings two decades of experience to the role.
