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
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
