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Saks Fifth Avenue stores and e-commerce to become separate companies

Saks Fifth Avenue stores and saksfifthavenue.com are being split into two separate companies. Insight Partners, a private equity firm, partnered with Saks’ parent company Hudson’s Bay Co. to make Saks Fifth Avenue’s e-commerce business its own entity, simply known as Saks. Saks’ e-commerce currently has a 2 billion dollar valuation, and Insight...