Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire called Saks Global, with Amazon set to assist in the deal. The acquisition by HBC for $2.65 billion will bring together the iconic luxury names of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman. The merger aims to enhance negotiating power with luxury brands and adapt to industry shifts, including the decline of department stores and the rise of direct-to-consumer sales by luxury conglomerates. Amazon’s involvement in the merger signals its ambitions in the luxury space and potential advantages in logistics and e-commerce.
