The parent company, Neiman Marcus Group of Iconic Dallas retailer Neiman Marcus as well as Bergdorf Goodman, has been sold for $2.65 billion to HBC, the parent company of Saks Fifth Avenue.
Neiman Marcus, founded by Herbert Marcus, Sr., A.L. Neiman, and Carrie Marcus Neiman, opened in downtown Dallas in 1907. Originally a community custom clothing store supplying men’s and women’s clothing, the brand evolved over time into the luxury fashion retailer we know today.
The newly formed company of Saks Global will be made up of Saks Fifth Avenue and its offshoot Saks OFF 5th as well as the new acquisitions of Neiman Marcus and Bergdorf Goodman, which will retain their current brand names. Included in Saks Global will be the U.S. real estate assets of HBC and Neiman Marcus Group creating a portfolio worth $7 billion in luxury shopping destinations.
Rebranding often requires the creation of a new Logo Design.
Marc Metrick, the current CEO of Saks.com, will assume the position of CEO of Saks Global while the present HBC Properties and Investments CEO and president, Ian Putnam will manage and build the company’s asset portfolio as the CEO of Saks Global Properties and Investments.
Plans for after the merger include plans for Saks Global to invest in the online fulfillment process for luxury shopping, support up-and-coming designers, integrate AI into the customer experience, and offer employees career development opportunities.
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