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Two of the biggest names in luxury department stores have officially combined forces.
Saks Global has completed a $2.7 billion acquisition of Neiman Marcus Group, Hypebeast reported on Thursday. The deal means that Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman will all be part of the same family, with each entity remaining a distinct brand.
“This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry,” Richard…
