Akin to others in its sector, Saks Global is starting to see the impact of the currently challenging luxury environment reflected in its financials. For the first quarter of the year, the luxury retail group reported widening losses and lowered revenue as issues with inventory flow took precedence. According to the company’s financial report,...
Jul 18, 2025
Saks Global has outlined a new “data-driven” strategy for its menswear offering. The luxury retail group, formed of Saks Fifth Avenue and Neiman Marcus, among other department stores, revealed its intention to tap into identified growth opportunities at the ongoing Pitti Uomo 108 in Florence, Italy. Much of this centres around zoning in on...
Jun 19, 2025
Saks Global, the newly formed retail group comprising Saks and Neiman Marcus, has announced that it has secured 350 million dollars of financing commitments from SLR Credit Solutions. This reflects progress against its previously announced measures to strengthen its balance sheet, the company said in a release. Anticipated the close on or before...
May 30, 2025
Saks Global is expected to cut further jobs this week. The reason for this is the merging of business units following acquisition of Neiman Marcus. The operator of Saks and Neiman Marcus is expected to lay off an estimated 550 employees, as reported by trade magazine WWD, based on sources. This number represents 3 percent of the Saks Global...
Apr 23, 2025
Jacquemus has pinned down a new space in Neiman Marcus. The French luxury brand has opened a bowling-inspired installation at the US department store’s Dallas NorthPark location. Until April 2, shoppers can interact within the exclusive experience, which features a branded operational bowling alley. The space references the brand’s bowling bag,...
Mar 21, 2025
Saks Global, which acquired Neiman Marcus in 2024, has confirmed the impending closure of its store in downtown Dallas, Texas. The company has been unable to reach an agreement with the leasing landlord and the city regarding the store's location. In a statement published on February 27, Saks Global reiterated its aim to shut down its Neiman...
Mar 4, 2025
Neiman Marcus’ Downtown Dallas store is set to close March 31, Saks Global has confirmed in a press release. The company, which is currently in the process of merging its operations with the newly acquired Neiman Marcus Group (NMG), responded to circulating rumours that suggested otherwise. This comes despite reports that officials for the City...
Feb 28, 2025
Luxury department store Saks Global is believed to be laying off around 5 percent of its corporate workforce as it continues to merge its operations with Neiman Marcus. According to an internal memo sent to employees and seen by Bloomberg News, the layoffs will impact employees in the finance, legal and operations departments. Staff at Saks...
Feb 27, 2025
Saks Fifth Avenue’s recent acquisition of Neiman Marcus marks a pivotal shift in America’s competitive landscape of luxury retail. The creation of Saks Global as the parent company of both brands has immediately elevated its market presence, positioning it as the second-largest player in the luxury department store space by visit share. While...
Feb 12, 2025
From blocked merger attempts to widescale bankruptcies, 2024 has been somewhat of a rollercoaster for brands across all subcategories. FashionUnited takes a look at what is on the horizon as the biggest stories of this year continue to unfold into 2025. Head-to-head: Fashion giants tackle turbulent market A major merger at Saks and Neiman Marcus...
Dec 27, 2024
Saks Global, a luxury retail and real estate company, has finalized its acquisition of Neiman Marcus Group (NMG) for a total enterprise value of 2.7 billion dollars. Saks Global portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH, each continuing to serve customers under their own brand. Commenting on the...
Dec 24, 2024
Farfetch, the luxury e-commerce platform now under Coupang's ownership, is reportedly ceasing operations of its Farfetch Platform Solutions (FPS), a once-flagship software-as-a-service product. This move, as reported by Business of Fashion, signals a strategic shift towards cost reduction and a renewed focus on its core marketplace business. The...
Aug 22, 2024