Saks’ parent company to buy Neiman Marcus
(CNN)– Two of the most popular high-end department stores are joining forces.
Wednesday, July 3, the parent company of luxury retailer Saks Fifth Avenue agreed to buy Neiman Marcus.
The deal is expected to be worth more than two-and-a-half billion dollars.
The merger comes years after Neiman Marcus filed for Bankruptcy during the pandemic.
The CEO of Saks’ parent company ‘HBC’ told the New York Times that deal will emphasize market demands for selling luxury products in beautiful stores by salespeople customers trust.
