Two luxury rivals are joining forces — and Amazon is getting in on the action
Saks Fifth Avenue is purchasing Neiman Marcus in a mega luxury fashion merger.
John Greim/Getty Images
- Saks Fifth Avenue is purchasing Neiman Marcus for $2.65 billion amid luxury retail challenges.
- Amazon and Salesforce are taking minority stakes in Saks Global, the new company.
- The news shows how hard it is for department stores today — particularly compared to luxury giants.
In a deal that shows just how hard things are getting in the luxury retail space...
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