1Marcus Group has finalized its acquisition by Saks Global, marking a significant step in the luxury retail industry

Marcus Group has finalized its acquisition by Saks Global, marking a significant step in the luxury retail industry.

Saks Global, a leader in luxury retail and real estate, has successfully acquired Neiman Marcus Group (NMG) for a total enterprise value of $2.7 billion. The acquisition includes iconic brands such as Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH, each continuing to operate under their own brands.

Richard Baker, Executive Chairman of Saks Global, Marcus Group highlighted the transformative nature of the deal, stating, “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’ve created an unparalleled luxury portfolio with significant growth potential.” With data and innovation at its core, Saks Global aims to redefine the luxury shopping experience while leveraging its prime real estate assets.

Marc Metrick has been appointed as CEO of Saks Global Operating Group, and Ian Putnam will serve as CEO of Saks Global Properties & Investments. Both will report directly to Marcus Group Richard Baker. In his role, Metrick plans to drive innovation in luxury retail, emphasizing the integration of art, science, and customer-centric experiences. “Bringing these iconic brands together will allow us to transform the customer experience, blending personalization with strategic technology partnerships,” said Metrick.

To lead the company’s go-to-market strategy, Saks Global has appointed Emily Essner as President & Chief Commercial Officer. Essner, previously Saks’ Chief Marketing Officer, will focus on enhancing customer experiences while driving revenue growth.

Bergdorf Goodman, which will remain a standalone business within Saks Global, has appointed Tracy Marcus Group Margolies as President. Margolies brings extensive experience in merchandising and leadership, which will help further elevate Bergdorf Goodman’s position in the luxury market.

Saks Global also appointed Bill Bine as Chief Transformation Officer to Marcus Group oversee the integration of NMG’s assets into Saks Global. Bine, who previously served as Chief Supply Chain Officer at Neiman Marcus Group, brings invaluable expertise in retail transformation.

Saks Global Properties & Investments, now a combined entity with a $7 billion Gross Asset Value portfolio, will focus on managing the company’s high-value real estate, which includes flagship properties for Saks Fifth Avenue and Neiman Marcus. Ian Putnam, CEO of Saks Global Properties & Investments, emphasized the company’s strategy to unlock value through its real estate portfolio and explore strategic opportunities to enhance both the operating business and the real estate holdings.

The company’s new strategic relationships also include key partnerships Marcus Group with Amazon, Salesforce, and Authentic Brands Group. Amazon, a strategic investor, will collaborate with Saks Global on innovation to enhance the customer and brand experience. Authentic Brands Group will partner with Saks Global through Authentic Luxury Group (ALG) to leverage capabilities in areas such as fashion, digital, and hospitality, further elevating Saks Global’s luxury offerings.

Salesforce will support Saks Global’s personalization efforts by integrating AI and first-party data to offer highly tailored shopping experiences for consumers. G-III Apparel Group remains an important merchandising partner, providing continued support for the luxury brand portfolio.

Regarding Canadian operations, Saks Global will separate its Canadian business and real estate assets, recapitalizing Hudson’s Bay to execute on its independent business plan. Hudson’s Bay will maintain ownership or leasing rights to a CAD$2 billion real estate portfolio.

The acquisition was financed through a combination of equity investments from new partners including Amazon, Authentic Brands Group, Salesforce, M. Klein & Company, and G-III Apparel Group, as well as a $2.2 billion issuance of Senior Secured Notes. The financing also included an Asset-Based Lending (ABL) revolving credit facility. Existing investors, such as Rhône, Insight Partners, and Abu Dhabi Investment Council, have retained ownership in the new structure.

M. Klein & Company served as the financial advisor to Saks Global in this acquisition, with other advisors including Solomon Partners, Jefferies LLC, BofA Securities, and RBC Capital Markets.

Saks Global is a leading force in luxury retail, combining renowned brands and assets, while using technology to deliver personalized shopping experiences. By continuing to innovate in the luxury retail sector, Saks Global is poised to transform how customers experience luxury shopping across multiple channels.

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