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.

Related: LVMH Acquired Tiffany & Co. for $15.8 Billion — And Now They’re Going After This Iconic Brand

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

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