It’s official. The Saks Fifth Avenue-Neiman Marcus Group (NMG) merger is done. Now luxury retailers Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, plus off-price Saks Off 5th and Neiman ...

Saks Fifth Avenue's parent company has finalized its nearly $2.7 billion acquisition of Neiman Marcus Group, creating a powerhouse in luxury retailing that seeks to hang on to wealthy shoppers.

NEW YORK--(BUSINESS WIRE)--Saks Global, a leading luxury retail and real estate company, has finalized its acquisition of Neiman Marcus Group (NMG) for a total enterprise value of $2.7 billion.

Department store chain Neiman Marcus is expanding the visual recognition capabilities in its brand application to help consumers find the products they are looking for across all departments.

The new initiative will allow consignors to receive payment for their luxury goods in the form of Neiman Marcus gift cards with the added bonus of an additional 10 percent of the value.

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