Marc Metrick will serve as chief executive officer (CEO) of Saks Global Operating Group, and Ian Putnam will serve as chief executive officer of Saks Global Properties & Investments. Both will report to Richard Baker, CEO of Saks Global, Saks Global said in a news release.
Saks Global acquired Neiman Marcus Group for $2.7 billion, uniting luxury brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH. Emily Essner becomes president and chief commercial officer, while Marc Metrick and Ian Putnam lead key divisions. Chief executive Richard Baker highlighted plans to redefine luxury retail with innovation and prime real estate.
“This landmark transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with enormous growth potential. “With data and innovation at our core and a world-class real estate portfolio, we aim to redefine the luxury shopping experience,” he said. Richard Baker, CEO of Saks Global.
“Bringing together these iconic brands is an important step forward for luxury retail. As one company, we have the opportunity to transform the way we serve consumers, combining art and science to ensure every customer's experience is unmistakably their own. With deep industry-wide relationships, cutting-edge customization, and strategic technology partnerships, we are poised to drive innovation and growth. “I look forward to working with the many talented leaders and employees of NMG and Saks Global as we embark on our journey to bring these businesses together,” he said. Marc Metrick, (CEO) of Saks Global Operating Group.
HBC, parent company of Saks Fifth Avenue, had signed a definitive agreement to acquire Neiman Marcus Group on July 4, 2024, which has now been completed.
Saks Global Properties & Investments includes flagship Saks Fifth Avenue and Neiman Marcus properties with a $7 billion gross asset value portfolio in luxury markets and is responsible for executing strategic transactions. Saks global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH.
Fiber2Fashion News Desk (SG)
