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Exciting news in the world of luxury and technology. Saks Owner (Hudson's Bay Company) will buy Neiman Marcus Group. ◾ The Wall Street Journal indicates Amazon will take a minority stake in the new co (Saks Global) and would provide technology & logistical expertise - note, this has NOT been confirmed by Amazon. ◾ The boards of Saks parent HBC and Neiman Marcus have approved the transaction, and an announcement could come as soon as this evening. - WSJ ◾ This will be a huge win for Richard A Baker of HBC, a creative deal maker, that's looked at Neiman's over the years. https://lnkd.in/gt_ivMC9 #futureofretail #futureofcommerce #fashion #technology #brands #luxury #businessnews #futureofcustomerexperiences #retail
Important update - thanks for sharing! I remember working on many financial scenarios for this in my time at Saks… crazy to see this deal really coming to life.
Executive Leadership/ Growth / Transformation / Strategy Sales Product Development Merchandising / Sourcing /Marketing Former CEO AG Jeans / St. John Knits / Dolce Gabbana / Donna Karan New York / Giorgio Armani
2wSad day for US Retail