Department Store Wars
In the never-ending saga of American department stores, Saks Global’s acquisition of the Neiman Marcus Group for $2.7 billion will go down in history as one of the most complicated—and consequential—plot points. Lauren and Saks Global C.E.O. Marc Metrick run through the list of complaints against the luxury department store super group, which includes Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman—from issues paying vendors to customer return snafus. And then, Marc outlines why he believes the deal was inevitable, and why it’ll be better for the customer in the long run.
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