Amazon takes a step into luxury with the mega-merger of Saks and Neiman Marcus

Featured image of the article Amazon takes a step into luxury with the mega-merger of Saks and Neiman Marcus

An article by Morgane Monteiro and Sophie Baqué

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Publication

8 July 2024 à 18h56

Updated on 24 September 2024 à 07h46

Reading time

2 minutes

Publication: 8 July 2024 à 18h56, Updated on 24 September 2024 à 07h46

Reading time: 2 minutes

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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.  

An article by Morgane Monteiro and Sophie Baqué

Add mind Retail to your sources
Publication

8 July 2024 à 18h56

Updated on 24 September 2024 à 07h46

Reading time

2 minutes

Publication: 8 July 2024 à 18h56, Updated on 24 September 2024 à 07h46

Reading time: 2 minutes

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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.

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Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

Featured image of the article Sophie Baqué
Sophie Baqué Chief Editor of mind Retail
Featured image of the article Sophie Baqué
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