Home » Amazon takes a step into luxury with the mega-merger of Saks and Neiman Marcus Amazon takes a step into luxury with the mega-merger of Saks and Neiman Marcus Within a U.S. luxury goods market hit by inflation, Saks acquired a major competitor Neiman Marcus for US$2 billion. At a time when department stores are sharpening logistics strategies by focusing on dropship, Amazon is making an unexpected share investment for this new entity. Through Morgane Monteiro, Sophie Baqué. Published on 15 July 2024 à 17h22 - Update on 24 September 2024 à 7h46 Resources The U.S.A. is suffering a weakened luxury goods market (down by 8% in 2023 according to Bain&Co) and department stores are consolidating in defiance. On July 4, Hudson’s Bay Company, parent company of Saks, announced the acquisition of a rival Neiman Marcus for US$2.65 billion.… Morgane Monteiro, Sophie Baqué
