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Which region will Saks Global expand to next by December 31, 2024?
2
Resolution / Starting Odds
Asia • 25%
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Official announcements from Saks Global or major news outlets
Story
Saks Parent Acquires Neiman Marcus in $2.65 Billion Deal with Amazon's Support, Forming Saks Global
Jul 3, 2024, 08:47 PM
The parent company of Saks Fifth Avenue has finalized a $2.65 billion deal to acquire its rival, Neiman Marcus. This merger, which creates a significant player in the luxury retail market, is backed by Amazon, which will take a minority stake in the new company, named Saks Global. Amazon's involvement is expected to provide technological and logistical support to the newly formed entity. Additionally, Salesforce is also poised to take a minority stake in the new company.
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