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Saks Global
American holding company From Wikipedia, the free encyclopedia
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Saks Global Enterprises LLC[1] is an American holding company of department stores and commercial property. It owns the full-line luxury stores Bergdorf Goodman, Neiman Marcus, and Saks Fifth Avenue; the off-price stores Neiman Marcus Last Call and Saks Off 5th; and home furnishings website Horchow. It jointly owns the intellectual property of the former Barneys New York department store chain with Authentic Brands Group.
Saks Global was established after the American assets of Canadian holding company Hudson's Bay Company (including Saks Fifth Avenue and Saks Off 5th stores) were spun-off in July 2024, and expanded with the acquisition of the Neiman Marcus Group in December 2024. Saks Fifth Avenue and Saks Off 5th stores in Canada were licensed by Saks Global and operated by HBC, and closed alongside the full-line Hudson's Bay stores with the liquidation of HBC in 2025.
Emily Essner is president and chief commercial officer of Saks Global,[2] and Brandy Richardson is chief financial officer.
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Saks Global was created in 2024 after the Canadian Hudson's Bay Company (HBC) purchased the American Neiman Marcus Group (NMG).[3][4][5] The acquisition was finalized in December 2024 and the purchase cost $2.7 billion.[6] The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th,[7] HBC also owned the Hudson's Bay and Zellers department stores.
The purchase was supported with financing from Amazon (who will work with the group "to innovate on behalf of customers and brand partners"),[7] Authentic Brands Group, G-III Apparel Group and Salesforce.[8] There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus.[8] In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the group's ambitions and that they are now thinking of what the entity might look like internationally.[6]
In May 2025, Saks Global was seeking additional capital to sustain its finances while its bondholders, who faced almost $1 billion in losses,[9] began to question if they'll receive a single interest payment.[10] Saks Global's executive chairman Richard Baker planned to remove 500 to 600 brands from the portfolio.[11] In May 2025 Saks Fifth Avenue closed its Union Square, San Francisco location, citing the nearby Neiman Marcus.[12] In May 2025, industry sources reported that Costco warehouse club will be carrying Saks Fifth Avenue apparel in the coming months.[13][14] In July 2025 John Antonini left the company after more than 25 years at Saks Fifth Avenue. He had been working a few months in a newly created position centered on store growth.[15] In July 2025 Saks Global named Brandy Richardson as its next chief financial officer, succeeding interim CFO Mark Weinsten.[16]
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Business units
- Saks Global Operating Group
Marc Metrick was appointed as the CEO after the group's creation.[8] He was previously CEO of Saks the digital arm of Saks Fifth Avenue.
- Saks Global Properties & Investments
Ian Putnam was appointed as the CEO after the group's creation.[8] He is also President and CEO of HBC Properties & Investments.
- Bergdorf Goodman
Bergdorf Goodman is managed separately from the other Saks Global divisions.[8]
- Authentic Luxury Group
Authentic Luxury Group is a joint-venture created in October 2024 in partnership with the Authentic Brands Group.[17][18]
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