Saks Global Enterprises LLC is an American

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store under one roof, each area ("department") specializing in a product category. In modern major cities, the department store mad ...

s and real estate. It owns the full-line luxury stores

Bergdorf Goodman Bergdorf Goodman Inc. is an American luxury department store based in New York City, founded in 1899 by Herman Bergdorf. , it operates a women's store and a men's store across the street from each other on Fifth Avenue in Midtown Manhattan. ...

Neiman Marcus Neiman Marcus is an American department store chain founded in 1907 in Dallas, Texas by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman. It has been owned by Saks Global, a Corporate spin-off, spin-o ...

, and

Saks Fifth Avenue Saks Fifth Avenue (Colloquialism, colloquially Saks) is an American Luxury goods, luxury department store chain founded in 1867 by Andrew Saks. The first store opened in the F Street and 7th Street shopping districts, F Street shopping distric ...

; the

off-price Off-price is a trading format based on Discounts and allowances, discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of branded goods directly from them. The off-price retail model relies on the purchase of ...

stores Neiman Marcus Last Call and

Saks Off 5th Saks OFF 5TH, formerly Saks Fifth Avenue Off 5th, is an American off-price department store chain founded in 1990, and a sister brand to the luxury department store chain Saks Fifth Avenue. Both chains were owned by holding company Saks, Inc., a ...

; and home furnishings website Horchow. It jointly owns the intellectual property of the former

Barneys New York Barneys New York is an American brand founded in 1923 by Barney Pressman that operated full-line department stores from 1923 until 2020. Authentic Brands Group acquired Barneys' intellectual property in 2019, and has licensed the brand to Saks F ...

department store chain with

Authentic Brands Group Authentic Brands Group LLC (ABG) is an American brand management company headquartered in New York City. Its holdings include various apparel, athletics, and entertainment brands, which it partners with other companies to license and merchandise. ...

. Saks Global was established after the American assets of Canadian holding company

Hudson's Bay Company The Hudson's Bay Company (HBC), originally the Governor and Company of Adventurers of England Trading Into Hudson’s Bay, is a Canadian holding company of department stores, and the oldest corporation in North America. It was the owner of the ...

(including Saks Fifth Avenue and Saks Off 5th stores) were spun-off in July 2024, and expanded with the acquisition of the

Neiman Marcus Group Neiman Marcus Group was an American holding company of department stores. It was established after holding company Carter Hawley Hale spun-off several of the department store chains it owned in 1987. At the time of its two-fold acquisition by ...

in December 2024. Saks Fifth Avenue and Saks Off 5th stores in Canada were licensed by Saks Global and operated by HBC, and closed alongside the full-line Hudson's Bay stores with the liquidation of HBC in 2025. Emily Essner is president and

chief commercial officer The chief commercial officer (CCO) (sometimes referred to as the chief business officer) is an executive-level role, with the holder being responsible for the commercial management and the development of an organization. It typically involves a ...

of Saks Global.

History

Saks Global was created in 2024 after the Canadian

(HBC) purchased the American

(NMG). The acquisition was finalized in December 2024 and the purchase cost $2.7 billion. The acquisition brought together Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue and Saks Off 5th, HBC also owns the Hudson's Bay and

Zellers Zellers was a Canadian discount store chain founded by Walter P. Zeller in 1931. It was acquired by the Hudson's Bay Company (HBC) in 1978, and after a series of acquisitions and expansions, peaked with 350 locations in 1999. However, fierce ...

department stores. The purchase was supported with financing from

Amazon Amazon most often refers to: * Amazon River, in South America * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon (company), an American multinational technology company * Amazons, a tribe of female warriors in Greek myth ...

(who will work with the group "to innovate on behalf of customers and brand partners"),

G-III Apparel Group G-III Apparel Group is an American clothing company that designs, manufactures, markets, and sells women's and men's apparel with a global portfolio of licensed, owned, and private label brands, including DKNY, Donna Karan, Karl Lagerfeld, Calvin ...

and

Salesforce Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence, and ap ...

. There is also the possibility of store closures across Saks Fifth Avenue and Neiman Marcus. In an interview with Vogue Business, Metrick (CEO of Saks Global Operating Group) said that this is only the beginning of the group's ambitions and that they are now thinking of what the entity might look like internationally. In May 2025, Saks Global was seeking additional capital to sustain its finances while its

bondholders In finance, a bond is a type of Security (finance), security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to provide cash flow to the creditor (e.g. repay the principal (i.e. a ...

, who faced almost $1 billion in losses, began to question if they'll receive a single

interest In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct f ...

payment. Saks Global's executive chairman Richard Baker planned to remove 500 to 600 brands from the portfolio. In May 2025 Saks Fifth Avenue closed its

Union Square, San Francisco Union Square is a public plaza bordered by Geary, Powell, Post, and Stockton Streets in downtown San Francisco, California. "Union Square" also refers to the central shopping, hotel, and theater district surrounding the plaza for several b ...

location, citing the nearby Neiman Marcus. In May 2025, industry sources reported that

Costco Costco Wholesale Corporation is an American multinational corporation which operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in the world, and as of August 2024, Cos ...

warehouse club will be carrying Saks Fifth Avenue apparel in the coming months.

Business units

; Saks Global Operating Group Marc Metrick was appointed as the CEO after the group's creation. He was previously CEO of Saks the digital arm of Saks Fifth Avenue. *

; Saks Global Properties & Investments Ian Putnam was appointed as the CEO after the group's creation. He is also President and CEO of HBC Properties & Investments. *

Neiman Marcus building The Neiman Marcus Building is a department store located in the Main Street District in downtown Dallas, Texas, United States. It was designed by George Dahl for Herbert Marcus, Abraham Lincoln Neiman, and Carrie Marcus Neiman, and opened in ...

Saks Fifth Avenue flagship store The Saks Fifth Avenue flagship store is a department store on Fifth Avenue between 49th and 50th Streets in Midtown Manhattan, New York City. The original 10-story structure at 611 Fifth Avenue has served as the flagship store of Saks Fifth A ...

; Bergdorf Goodman Bergdorf Goodman is managed separately from the other Saks Global divisions. *

Bergdorf Goodman building The Bergdorf Goodman Building is a department store building at 754 Fifth Avenue between 57th Street (Manhattan), 57th and 58th streets in Midtown Manhattan, New York City. The building, designed by Albert Buchman and Ely Jacques Kahn, was ere ...

; Authentic Luxury Group Authentic Luxury Group is a

joint-venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

created in October 2024 in partnership with the

. *

Hervé Léger Hervé Léger () is a French fashion house that was founded by the designer Hervé Peugnet, who was also known as Hervé L. Leroux. As of 2023, the creative director is American designer Michelle Ochs. History Hervé Léger was founded in 19 ...

* Judith Leiber * VINCE.

Nameplates

Notes

References

{{Department stores in the United States 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