Saks Announces Leadership Appointments as Neiman Marcus Acquisition Completes

Saks Global has announced that it has completed its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion. Saks now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH.

Marc Metrick will serve as CEO of Saks Global Operating Group and Ian Putman will serve as CEO of Saks Global Properties & Investments.

To ensure Saks Global is better positioned to drive growth in its luxury business, the company has created a new position, President and Chief Commercial Officer. Emily Essner, previously Chief Marketing Officer of Saks, has been promoted to the position.

Bergdorf Goodman will remain an independent business under Saks Global, continuing to build on its reputation for unique, curated luxury shopping. Tracy Margolies, previously Chief Marketing Officer of Saks, has been named President.

To support its transformation strategy, Saks Global has appointed Bill Bine to the new role of Chief Transformation Officer. Bine joins Saks Global from Neiman Marcus Group where he served as Chief Supply Chain Officer.

Richard Baker, Executive Chairman of Saks Global, explained: “This landmark transaction marks a transformational moment for Saks Global and the luxury retail industry. By combining Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue, we have created an unrivalled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at its core, and a prime real estate portfolio, we aim to redefine the luxury shopping experience.”