Amazon Just Invested in the $2.65 Billion Merger of 2 Luxury Retail Giants — But There's a Huge Potential Challenge Ahead

Saks Fifth Avenue and Neiman Marcus are merging to create a luxury retail network — and Amazon has a stake in the deal, too.

Saks owner HBC announced the $2.65 billion acquisition and new retail powerhouse known as Saks Global in a press release on Thursday.

Saks Global combines the two department giants, discount store Saks Off 5th and high-end retailer Bergdorf Goodman, which Neiman Marcus owns.

Amazon will serve as an investor in Saks Global to “innovate on behalf of customers and brands partners,” per the release.

The long-speculated merger grants the combined entity

→ Continue reading at Entrepreneur

Amazon Just Invested in the $2.65 Billion Merger of 2 Luxury Retail Giants — But There’s a Huge Potential Challenge Ahead