Saks Fifth Avenue's Parent Company To Buy Neiman Marcus For $2.65B, With Amazon's Help: Report
Portfolio Pulse from Benzinga Neuro
Saks Fifth Avenue's parent company, HBC, is set to acquire Neiman Marcus for $2.65 billion, with Amazon and Salesforce taking minority stakes. The deal aims to create a luxury retail powerhouse with annual sales of around $10 billion.
July 05, 2024 | 2:59 pm
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Amazon will take a minority stake in the new entity formed by the merger of Saks Fifth Avenue and Neiman Marcus, providing technological and logistical support.
Amazon's involvement in the deal as a minority stakeholder and provider of technological and logistical support is likely to strengthen its position in the luxury retail sector, potentially boosting its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Salesforce will also take a minority stake in the new Saks Global entity, further strengthening its existing business relationship with Saks.
Salesforce's minority stake in the new entity will likely enhance its existing business relationship with Saks, potentially leading to increased revenues and a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60