Saks International, a number one luxurious retail and actual property firm, has accomplished its acquisition of Neiman Marcus Group (NMG) for a complete enterprise worth of $2.7 billion. To make sure Saks International is finest positioned to drive the expansion of its luxurious companies, the corporate has established the function of president & chief business officer. Emily Essner, who beforehand served as chief advertising officer at Saks, has been promoted into this function, main the corporate’s go-to-market technique by aligning key business capabilities to boost the shopper expertise and drive income.
Marc Metrick will function chief-executive officer (CEO) of Saks International Working Group, and Ian Putnam will function CEO of Saks International Properties & Investments. Each will report back to Richard Baker, Saks International’s government chairman, Saks International mentioned in a press launch.
Saks International has acquired Neiman Marcus Group for $2.7 billion, uniting luxurious manufacturers Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
Emily Essner turns into president & chief business officer, whereas Marc Metrick and Ian Putnam lead key divisions.
Govt chairman Richard Baker highlighted plans to redefine luxurious retail with innovation and prime actual property.
“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. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience,” mentioned Richard Baker, government chairman of Saks International.
“Bringing these iconic brands together is a significant step forward for luxury retail. As one company, we have an opportunity to transform the way we serve consumers, blending art and science to ensure each customer’s experience is unmistakably their own. With deep relationships across the industry, cutting-edge personalisation and strategic technology partnerships, we are poised to drive innovation and growth. I look forward to working with the many talented leaders and employees from NMG and across Saks Global as we embark upon our journey to bring these businesses together,” mentioned Marc Metrick, (CEO) at Saks International Working Group.
HBC, mum or dad firm of Saks Fifth Avenue had entered right into a definitive settlement to accumulate Neiman Marcus Group on July 4, 2024, which has now been accomplished.
Saks International properties & investments contains Saks Fifth Avenue and Neiman Marcus flagship properties with a $7 billion gross asset worth portfolio in luxurious markets and is liable for executing strategic transactions. Saks world now contains Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
