HBC, the owner of Saks Fifth Avenue, acquires Neiman Marcus, creating a luxury retail giant
07/04/24, 1:51 AM
Location
new yorklas vegasIndustry
retail
retail
HBC, the parent company of Saks Fifth Avenue, has reached an agreement to acquire Neiman Marcus in a $2.65 billion deal. This strategic move aims to consolidate the luxury retail market, creating a dominant high-end department store behemoth and enhancing the product offerings and customer experience for both brands.
Company Info
Location
New York, New York, United States
Company info
Hudson's Bay Company, known as HBC, is the parent company of Saks Fifth Avenue and has a rich history dating back to 1670. It operates multiple department store chains, including Saks Fifth Avenue and has a strong presence in both the U.S. and Canada.