(Dec 24): Saks Global completed its US$2.7 billion (RM12.11 billion) acquisition of Neiman Marcus, creating what the company says is a multibrand luxury giant that’s powered by the technology of its high-profile investors, Amazon.com Inc and Salesforce Inc.

Amazon will help to improve fulfilment and supply-chain operations while Salesforce will help the company convert data about its high-end shoppers into higher sales, according to Saks Global. The new company combines Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and the off-price Saks Off 5th chain.

The data generated from shoppers at those brands will be “probably the richest and deepest on the luxury consumer in the US,” Marc Metrick, CEO of Saks Global Operating Group, said in an interview. “That’s only as valuable as your ability to mine that data and scale it.”

The deal, which was announced in July, is the latest upheaval in the US department store landscape as companies try to find new ways to boost sluggish revenue and compete against online juggernauts and luxury powerhouses such as LVMH.

Also on Monday (Dec 23), Nordstrom Inc announced a plan to go private. Macy’s Inc, meanwhile, is closing poorly performing stores to focus on a smaller, more profitable format.

At Saks Global, Ian Putnam is CEO of Saks Global Properties and Investments, which will oversee what the company said is a real estate portfolio with a gross asset value of US$7 billion.

Authentic Brands Group and G-III Apparel Group also invested in the new company.

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