Saks Fifth Avenue & Neiman Marcus Merge with Amazon

Hudson's Bay Company, the parent of Saks Fifth Avenue, is acquiring Neiman Marcus for $2.65 billion, forming a new entity called Saks Global. This merger includes 75 stores and 100 off-price outlets, with Amazon taking a minority stake. The partnership aims to leverage Neiman's sales force and Amazon's logistics, targeting the growing remote shopping market. The acquisition marks Amazon's first brick-and-mortar investment since 2017. Saks' and Neiman's historical challenges and the competitive luxury market backdrop set a complex stage for the merger's success.