Jeremy Baksht’s Post

The merger of Saks and Neiman Marcus Group created headlines - partly because of the involvement of Amazon, which will take a minority stake in the business. It got many asking whether Amazon can save the department store. It’s a legitimate question, but one that has a clear and short answer: no. The problems of US department stores run deep. Most issues are centered around the proposition of physical stores. Too many of them, some too large, an undifferentiated offer, mediocre customer experience, too much competition, and so forth. Amazon may have the Midas touch when it comes to many things, but that gift does not extend to physical retail. The failure of Amazon Style, the closure of Books and 4-Star shops, and the struggle to create a compelling grocery concept paint a picture of a retailer that finds physical stores challenging.  The Achilles’ heel of Amazon is that as great as it is at functional factors such as convenience, operational prowess, technological innovation and so on, it can lack something of a soul when it comes to creating inspiration and excitement in the physical world. So, expecting Amazon to fix the problems of one of the most troubled sectors in US retail is a very long shot. Of course, it is not Amazon’s own intention to fix department stores. Its place in this deal is to offer its third party back-end services and to learn more about, and gather data on, the luxury space. This is all about helping Amazon grow its core business, not entering new physical arenas.  I spoke a little more about this to The Business of Fashion. A link to the article is in the comments. #retail #retailnews #departmentstores #amazon #ecommerce

Probably the most significant Business/Retail/eCom announcement of this week ⎯ including the fact that #Amazon will take a minority stake in the new company, and plans to contribute with its technology and logistics expertise. Richard Kestenbaum (Triangle Capital LLC) ’s article in Forbes is absolutely a must to read to understand → Why This Is Happening❓ Thank you Richard. #saks Saks Fifth Avenue Saks OFF 5TH Neiman Marcus Group #neimanmarcus #amazon #luxury #departmentstores #grandsmagasins #lvmh #merger #luxurybrands #retail #retailtech #fashiontech #trianglecapital #forbes #acquisition #mergerandacquisition

Is Amazon prepared to lead the #departmentstore #turnaround for Hudson's Bay Company's Neiman Marcus Group and Saks Fifth Avenue?? "#Amazon agreed to back #Saks’ $2.65 billion buyout of #NeimanMarcus and take a minority stake in the combined #company, Saks Global. The exact size of the stake was not disclosed." I agree with Neil Saunders that this is a #learning exercise...“I don’t think that this is a very direct play just to try and get the #brands on Amazon’s site because the #licensing restrictions and deals worked out with brands are much more complex than that,” said Saunders. “What they could do, though, is gather data and information that would help them to understand more about the #luxuryMarket.” Great piece by Allison Smith at Modern Retail on Amazon's historical and potential future ventures in Fashion... #alwayslearning #commerce #ecommerce #fashion #fashionindustry #retail https://lnkd.in/gkVUQ3i3

😎 Could a Deal get any bigger than this for 2024? Saks Fifth Avenue and Neiman Marcus Group Marcus announced Thursday that after months of negotiations, they're ending their high-end competition. The boards of both privately held companies have approved the agreement, which calls for Saks' parent company to acquire its rival for $2.65 billion and create a new group called Saks Global, the Wall Street Journal reports. Amazon will supply the company with technology and logistical support and hold a minority stake. Salesforce also will be a minority shareholder. For years, many in the industry have anticipated these Big Brands Aligning. #RetailNews #BigBrands #Saks #NeimanMarcus #Amazon #Salesforce

Read all this post, As collapsing legacy company BestBuy closing a lot more #retail stores as it cannot compete with themite of Amazon as woke-woman appointed #CEO and her #Executives have No solution to all their problems https://lnkd.in/ejPywGJi Best Buy anti prime day push https://lnkd.in/eJD3ZCMy Bank of America massive IT meltdown leaves customers unable to get cash out with their balance showing $0 so probably bouncing checks + declined auto-pay payments as it's woke-India #CIO is a total failure due to BoA failed pro-woke pro-dei agendas that causing boycotts and sales + recruitment boycotts plus bad company image https://lnkd.in/eMZP6stW FTC looking to stop Michael Kors merger with Kate Spade https://lnkd.in/e4XtNzsS Jack Daniel's worried about it's future https://lnkd.in/emye7UuP More big layoffs at collapsing Woke-DEI company Disney again as it is in deep trouble https://lnkd.in/eFn6EXm7 Boeing delivery delays angers airplane companies like Lufthansa https://lnkd.in/egsQwPpj Wow some dock workers earn $400k a year https://lnkd.in/ez3wgriF United Logistics acquisition of a rail terminal https://lnkd.in/egzdHbqy Fed's end action against CitiGroup https://lnkd.in/edHBmBPE Volkswagen profits warning as it is another legacy company in massive trouble https://lnkd.in/eSw5x-tJ Stellantis assembly plant facing extended shutdowns https://lnkd.in/eUrnA6Nb A #Whistleblower says a company shipped substandard F-35 parts as DoD Pentagon woke appointed Director keeps failing badly https://lnkd.in/eQ_BhECd Though legacy company GM EV sales went up https://lnkd.in/enVd7fsm overall General Motors they suffered a 2.2% plunge in sales https://lnkd.in/eQHSSp4h as it's woke-woman appointed CEO keeps failing badly. Elon Musk now considering Tesla drone production https://lnkd.in/emwZN3uu US Congress wants to make vehicles makers to keep AM radio https://lnkd.in/eQ-r8-mA US open job openings rebound up https://lnkd.in/e_yip7kP Another mid-flight plane incident https://lnkd.in/eYSy7Cxz It is disgraceful that Boeing bought politicians with lobbyists lobbying money to win a big #government contract even though theyvare defect ridden plus bought a plea deal to avoid criminal action over two fatal plane crashes shows how corrupt the US-Gov and nearly every #politician is https://lnkd.in/ejcrWcnp ExxonMobil slashed to sell rating https://lnkd.in/eMbD6KdK as they look to acquire Pioneer Natural Resources that used Synon2e but only hire lazy clique Synon2e techies that talk all day! IT developers gaining little from AI gimmick https://lnkd.in/ehRghJRy Employers abouse woke-India labor they see desperate for a job will work harder for lower pay under toxic control is exploitation even though this woke-India labor is mega-slow mega-crap useless incompetent that often pro-India fellow people thus anti non India people plus toxic micromanagers https://lnkd.in/eAKznU6C I offer high-paid solutions. #news Fox Business Network #cfo #economy #finance

In 2015 I wrote a piece titled "Could Amazon Do To Groceries What It Did to Books?" Two years later, Amazon bought Whole Foods Market.    Nearly a decade later I wonder this about Amazon's investment in Saks Global: Does Amazon want a ringside seat into the ins and out of a retail category where they don't have much of a presence right now? Or is Amazon looking to reinvent the retail model by making the physical store an extension of the digital experience to attract the lucrative Click-and-Mortar™ shopper? With or without Saks Global?    Here's my POV, and as always would love to hear your thoughts: https://lnkd.in/eZardqRM

Saks Owner Nears $2.65 Billion Neiman Deal With Amazon Help : Tech Stakes Amazon’s first investments in a physical retailer since it bought Whole Foods help the online retailer push into the grocery business. While Amazon has been dabbling in luxury goods, a better view into the sector could help it test the waters in the industry : e-commerce giant has done that in other industries, taking stakes in cargo carriers behind its Prime Air delivery business : involvement of Amazon “adds a bit of spice to an otherwise predictable deal” Its stake would make sense “as it has ambitions to play more heavily in the luxury space and this would give it a toehold” Salesforce has touted luxury-brand partners such as Louis Vuitton and McLaren: Salesforce, Amazon poised for minority stakes in new company : tech companies will take minority stakes in a new company, called Saks Global : Hudson’s Bay will also finance the deal with $2 billion raised from investors

Go high or go low? Learn more from Andrea Felsted in this Bloomberg article, featuring CE data, about Amazon's plans to strike a deal with Saks just days after news of their strategy to take on Temu & SheIn territory. https://lnkd.in/gGkZv9HY

📰 News: 📰 --- The Saks-Neiman Marcus Mega-Deal and Amazon’s New Path to Luxury 🚀💼💎 Hey everyone! Hold onto your hats because the luxury retail world just got a major shake-up with a $2.65 billion titanic merger between Saks Fifth Avenue and Neiman Marcus Group. This isn't just another business deal; it's a seismic shift that’s pulling Amazon into the high-end fashion mix like never before. ✨ Here’s why this news is buzzing all over: - --Eye-popping Figures--: We're talking about a --$2.65 billion-- merger! - --The Amazon Effect--: Amazon, the largest clothing retailer in the USA, finds a fresh avenue into luxury fashion. - --AI Transformation--: With Salesforce’s generative AI tools in the mix, expect your shopping experience to get a high-tech upgrade. This is a thrilling time for luxury fashion, as traditional chic meets cutting-edge tech. What’s your take on this mega-deal? 🤔 Drop your thoughts below, and make sure to follow --Bernier Group-- for more updates on game-changing developments in the world of business and tech! #Hospitality #Ecommerce #Retail #Commerce #Manufacturing #Logistics #Strategy #Innovation #Business #ArtificialIntelligence #AnniQ https://lnkd.in/eau7A69j

The article discusses the challenges American department stores face and explores how Saks, Neiman Marcus, and Amazon are attempting to revitalize the struggling sector. Saks and Neiman Marcus leverage their luxury branding and customer experiences, while Amazon brings technological innovation and vast logistics capabilities. The collaboration between these entities aims to combine scale, technology, and luxury to rejuvenate the department store model in the face of shifting consumer behaviors and the rise of e-commerce. #RetailRevival #DepartmentStores #Saks #NeimanMarcus #Amazon #RetailInnovation #Ecommerce #FashionIndustry #LuxuryRetail #TechInRetail 4o