Marc Metrick will serve as chief-executive officer (CEO) of Saks Global Operating Group, and Ian Putnam will serve as CEO of Saks Global Properties & Investments. Both will report to Richard Baker, Saks Global’s executive chairman, Saks Global said in a press release.
Saks Global has acquired Neiman Marcus Group for $2.7 billion, uniting luxury brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
Emily Essner becomes president & chief commercial officer, while Marc Metrick and Ian Putnam lead key divisions.
Executive chairman Richard Baker highlighted plans to redefine luxury retail with innovation and prime real estate.
“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 have created an unparalleled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience,” said Richard Baker, executive chairman of Saks Global.
“Bringing these iconic brands together is a significant step forward for luxury retail. As one company, we have an opportunity to transform the way we serve consumers, blending art and science to ensure each customer’s experience is unmistakably their own. With deep relationships across the industry, cutting-edge personalisation and strategic technology partnerships, we are poised to drive innovation and growth. I look forward to working with the many talented leaders and employees from NMG and across Saks Global as we embark upon our journey to bring these businesses together,” said Marc Metrick, (CEO) at Saks Global Operating Group.
HBC, parent company of Saks Fifth Avenue had entered into a definitive agreement to acquire Neiman Marcus Group on July 4, 2024, which has now been completed.
Saks Global properties & investments includes Saks Fifth Avenue and Neiman Marcus flagship properties with a $7 billion gross asset value portfolio in luxury markets and is responsible for executing strategic transactions. Saks global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
Fibre2Fashion News Desk (SG)