Saks Fifth Avenue Buys Neiman Marcus!
Saks Fifth Avenue to buy Neiman Marcus
Transcript
00:00Are you ready to hear the latest shakeup in the luxury retail world?
00:03Saks Fifth Avenue is buying Neiman Marcus for $2.65 billion.
00:08The parent company of Saks Fifth Avenue is reportedly buying Dallas-based Neiman Marcus.
00:12This blockbuster deal, valued at $2.65 billion, includes Amazon taking a minority stake.
00:19Neiman Marcus, which filed for bankruptcy protection in May 2020 due to the pandemic,
00:24has since bounced back.
00:25Founded in Dallas in 1907, Neiman Marcus is renowned for its high-end luxury items.
00:31With Amazon providing technology expertise, this acquisition promises significant changes
00:36in the luxury retail landscape.
00:38Stay tuned for more updates on this major development.
00:41Remember to like and subscribe for the latest news in luxury retail.