Saks Global has successfully concluded its acquisition of Neiman Marcus Group, bringing the total enterprise value to a significant US$2.7 billion. This strategic move involves the integration of Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH under the Saks Global umbrella.
Marc Metrick has been appointed as CEO of Saks Global Operating Group, while Ian Putman takes the helm as CEO of Saks Global Properties & Investments. To foster growth in its luxury segment, Saks Global has introduced a newly created role — President & Chief Commercial Officer. Emily Essner, former Chief Marketing Officer at Saks, has been elevated to this influential position.
Bergdorf Goodman will continue operating independently within Saks Global, furthering its reputation for bespoke luxury shopping. Tracy Margolies, who transitions from her role as Chief Merchandising Officer at Saks, assumes responsibilities as President.
In alignment with its transformation efforts, Saks Global has named Bill Bine as the Chief Transformation Officer. Bine brings his extensive experience from Neiman Marcus Group, where he served as Chief Supply Chain Officer, to Saks Global.
Commenting on these developments, Richard Baker, the Executive Chairman of Saks Global, remarked: “This pivotal transaction signifies a transformative era for both Saks Global and the luxury retail sector. Combining the strengths of Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue has given rise to an unmatched multi-brand luxury portfolio brimming with growth opportunity. With data-driven strategies, innovation, and a portfolio of sought-after real estate assets, we are set to redefine the luxury shopping landscape.”