Hudson's Bay Company to Buy Neiman Marcus Group, With Help From Amazon and Salesforce
Saks Fifth Avenue is a premier luxury department store chain known for its high-end fashion, accessories, beauty products, and home goods.
Neiman Marcus Group is an American luxury department store operator headquartered in Dallas, Texas. Founded in 1907, the company is renowned for its exclusive merchandise, designer fashion, and exceptional customer service.
Hudson's Bay Company has acquired Neiman Marcus Group, which will merge with Saks Fifth Avenue to form Saks Global. Salesforce and Amazon will hold minority shares in Saks Global. The luxury sector is seeing consolidation for survival.