Saks Global
| Company type | Private |
|---|---|
| Industry | Retail, Commercial real estate |
| Founded | July 2024 |
| Headquarters | United States |
Key people | Emily Essner (President and Chief Commercial Officer), Brandy Richardson (Chief Financial Officer), Marc Metrick (CEO, Saks Global Operating Group), Ian Putnam (CEO, Saks Global Properties & Investments) |
| Products | Department stores, luxury retail, off-price retail, home décor e-commerce |
| Owner | Hudson's Bay Company (prior to spin-off), various investors including Amazon, Authentic Brands Group, G-III Apparel Group, Salesforce |
Overview
Saks Global Enterprises LLC is a United States-based holding company specializing in department store operations and commercial real estate. Its portfolio includes prestigious full-line luxury retailers such as Bergdorf Goodman, Neiman Marcus, and Saks Fifth Avenue; off-price retail brands like Neiman Marcus Last Call and Saks Off 5th; as well as the home décor e-commerce platform Horchow. Additionally, Saks Global co-owns the intellectual property rights of the defunct Barneys New York department store chain in partnership with Authentic Brands Group.
The company was formed following the July 2024 spin-off of the American retail assets from the Canadian conglomerate Hudson's Bay Company, which included Saks Fifth Avenue and Saks Off 5th locations. Saks Global expanded its holdings by acquiring the Neiman Marcus Group in December 2024. While Saks Fifth Avenue and Saks Off 5th outlets in Canada remained under license to Saks Global and were operated by HBC, they ultimately ceased operations alongside the liquidation of HBC’s full-line Hudson's Bay stores in 2025.
Leadership at Saks Global includes Emily Essner, who serves as president and chief commercial officer, and Brandy Richardson, who holds the position of chief financial officer.
History
Saks Global was established in 2024 following the acquisition of the American Neiman Marcus Group (NMG) by the Canadian Hudson's Bay Company (HBC). The deal, valued at $2.7 billion, was completed in December 2024. This merger united several prominent brands including Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue, and Saks Off 5th under one corporate umbrella. Alongside these, HBC also retained ownership of its Hudson's Bay and Zellers department stores.
The transaction received financial backing from Amazon, which committed to collaborating with the group to drive innovation for customers and brand partners. Additional support came from Authentic Brands Group, G-III Apparel Group, and Salesforce. There were indications that some store closures might occur within Saks Fifth Avenue and Neiman Marcus locations. In a conversation with Vogue Business, Marc Metrick, CEO of Saks Global Operating Group, emphasized that this acquisition marked only the initial phase of the company’s broader ambitions, including potential international expansion.
By May 2025, Saks Global sought further capital infusion to stabilize its financial position amid growing concerns from bondholders facing nearly $1 billion in losses and uncertainty over receiving interest payments. Executive chairman Richard Baker announced plans to streamline the brand portfolio by eliminating between 500 and 600 vendors.
That same month, Saks Fifth Avenue shuttered its Union Square store in San Francisco, citing proximity to a Neiman Marcus location as a factor. Industry insiders also revealed that Saks Fifth Avenue apparel would soon be available at Costco warehouse clubs.
In July 2025, John Antonini departed from the company after over 25 years of service, having recently held a role focused on store growth initiatives. Subsequently, Brandy Richardson was appointed as Saks Global’s chief financial officer, replacing interim CFO Mark Weinstein.
Earlier in February 2025, CEO Marc Metrick acknowledged delays in paying vendors and pledged that outstanding invoices would begin to be settled starting July 2025. However, by August some suppliers reported no noticeable improvements in payment status.
Business divisions
- Saks Global Operating Group
Marc Metrick assumed the role of CEO following the establishment of this division.[1] Prior to this, he served as CEO of Saks, the digital segment of Saks Fifth Avenue.
- Saks Global Properties & Investments
Ian Putnam was named CEO upon the group's formation.[1] He concurrently holds the position of President and CEO at HBC Properties & Investments.
- Bergdorf Goodman
Bergdorf Goodman operates independently from the other Saks Global units.[1]
- Authentic Luxury Group
Established in October 2024 as a joint venture with the Authentic Brands Group, Authentic Luxury Group represents a new luxury platform.[2][3]
Nameplates
| Name | Year established |
Year acquired |
Remarks |
|---|---|---|---|
| Bergdorf Goodman | 1899 | 2024 | |
| Horchow | 1971 | 2024 | |
| Neiman Marcus | 1907 | 2024 | |
| Neiman Marcus Last Call | 2024 | ||
| Saks Fifth Avenue | 1867 | 2013[lower-alpha 1] | |
| Saks Off 5th | 1990 | 2013[lower-alpha 1] | |
| Authentic Luxury Group | |||
| Barneys New York | 1923 | 2024 | |
| Hervé Léger | 1985 | 2024 | |
| Judith Leiber | 1963 | 2024 | |
| VINCE. | 2002 | 2024 | |
Notes
References
Template:Hudson's Bay Trading Company, L.P. Template:Department stores in the United States
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- Articles with short description
- Clothing retailers of the United States
- Department stores of Canada
- Department stores of the United States
- Hudson's Bay Company
- Online clothing retailers of Canada
- Online clothing retailers of the United States
- Saks Fifth Avenue
- History of retail in the United States