In this episode of From the Newsroom, host Evan Clark shares the mic with David Moin, WWD’s retail editor, to provide an overview of the merger between Saks and Neiman Marcus, which was finalized in December.
To listen to the episode, CLICK HERE.
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It was a long time coming. Saks Global’s Richard Baker has been eyeing Neiman’s since at least 2013. Now, he has to make the combination work.
Moin said the merger aims to ensure long-term survival by combining resources and could reset the luxury retail industry. However, challenges such as vendor tensions, extended payment terms, layoffs (with 550 employees cut recently and store closures) and integration complexities remain significant hurdles.
The company is now working to strengthen its core. Moin said the retailer created a centralized operating structure, including revamped merchandising roles that focus on brand partnerships and buying for both Saks and Neiman Marcus. The aim is to balance cost-saving synergies, with a goal of saving $500 million annually, and avoid homogenization that could dilute the chains’ luxury appeal.
To listen to the episode, CLICK HERE.
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