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While the Saks-Neiman Marcus deal was not unexpected after it was disclosed on Wednesday, it did reverberate through the industry, raising enormous questions and concerns. Marc Metrick, chief executive officer of Saks, said he reacted by sending a letter to vendors and employees, a copy of which was attained by WWD.⁠ ⁠ In the letter, he wrote, “When this transaction closes, which will happen after customary regulatory review, we will establish Saks Global, a technology-driven company that brings together renowned retailers and real estate assets.”⁠ ⁠ If the government green-lights the deal, Marc Metrick will become CEO of Saks Global, the combined Saks-Neiman Marcus entity.⁠ ⁠ Discussing what lies ahead in the immediate future, he told WWD on Thursday, “We will focus on what we can control and our strategy.”⁠ ⁠ Read more: https://lnkd.in/e64yyf6k

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Yemi L.

Empowering Luxury Leaders & Investors with Actionable Insights

6d

Is Saks Fifth Avenue about technology or one of the finest luxury destinations for discovery ? Asking for a friend.

Michael Pagotto

Founder-Executive Consultant | Scaling Brands | Creating Unique Retail Partnerships | Sports + Fashion Apparel

6d

Saks Fifth Avenue & Neiman Marcus Group this inevitable partnership had to materialize; otherwise the disproportionate market for the Luxury categories became compressed with the influx of DTC behemoth like LVMH, Kering , Tapestry , Richemont , etc. They will need to start searching the globe for alternatives in upcoming brands ! Furthermore, they will need to start scaling their own brands as a private label alternative. Saks 5th Abenue the brand is known globally and needs to be exploited, same applies for Neiman Marcus, Bergdorf Goodman, etc. Costco Wholesale has Kirkland ! And is manufactured by global brands expertise and craftsmanship to push out over saturated categories. This will be a difficult transition, a lot of talented people will be pushed out from this merger; however that’s the retail environment these days. Amazon Fashion will benefit tremendously and gain a substantial amount of high income consumers. I believe Marc Metrick will crush this opportunity and create a very strong brand which will compete globally with Selfridges , Printemps , Galeries Lafayette , etc. Enjoy the ride Saks Global, have Fun !

Orlan Streams

Cyber Threat Intelligence Officer, Sr. Cyber Threat Advisor (OPTIV), Former FBI Agent, Public Affairs Officer, Air Force Cyber Security Officer (Maj. Ret) LANG

19h

As a cyber security professional I look forward to seeing what innovations come from Saks global. Taking years of retail experience and incorporating the latest technology to automate, increase revenue and secure retail commerce is a natural step for sustainability.  As a client I can’t wait to see how you improve the shopping experience.

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Jeffrey Ten

President | New Business Development, Sales, Marketing

6d

It's quite a surprise, but it makes a much smaller world for specialty retail. It will be interesting to see if they consolidate management and the buying offices.

Lidia Hayrapet

Assistant Store Manager

3d

Not surprised what so ever. Both are great luxury retailers and this was inevitable.

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Lee Gilbert

Research & Development Skincare Science of Well-aging vs Anti-aging Cosmetics R&D - Marketing and product development.

4d

Sounds like this deal is more technology driven?

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Matteo zardini

Global Head of Retail Design at Stamuli AB

4d

🔥 🔥

Mark Thomson

DELIVERING OPERATIONAL PERFORMANCE & SALES ENABLEMENT WHILE ELEVATING THE CUSTOMER JOURNEY

6d

Go HBC!! Great move.

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Robert Ortiz

Executive Managing Director at Cushman & Wakefield

5d

Saks-Neiman Marcus Transaction should receive regulatory approval ! Sake Global new technology driven Retailers with incredible Real Estate opportunities

Cinzia Bernasconi

CEO, North America at Flos

5d

Great move HBC. Marc, looking forward to this new set up!

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