Neiman Marcus Sells for $6 Billion
Luxury department store Neiman Marcus has been sold for $6 billion to a group spearheaded by Ares Management and Canadian Pension Plan Investment Board. The two new owners will hold an equal interest in the retailer, while Neiman Marcus management, led by CEO Karen Katz, will retain a minority stake.
“We plan on investing meaningful capital into the business to ensure Neiman’s long-term position as the unparalleled leader in luxury retail,” David Kaplan, co-head of private equity at Ares, said in a statement.
Earlier this year, Neiman’s competitor Saks Fifth Avenue was sold to Hudson’s Bay Co., the Canadian parent of upscale retailer Lord & Taylor, for $2.4 billion.
Related Articles
Rewriting the Rules: Sedge Beswick on Risk, Motherhood, and Success
In a world that runs on conformity, Sedge Beswick has established her career through standing apart. A builder, forward-thinker, and creative strategist, Beswick has built her career by seeing new opportunities where everyone else sees risk.
MiLi Christmas Limited Edition — Christmas Gift Ideas That Shines Beyond the Holidays
Festive MiLi Christmas luggage tag with MiTag Duo—trackable, stylish, Apple & Android compatible, and useful all year round.
Top New Year’s Eve Hotel Experiences In Boston
From elegant multi-course meals to glamorous parties, here are some top New Year’s Eve hotel experiences in Boston for 2025.
Christopher King Opens Stunning Worth Ave Flagship in Palm Beach
Christopher King opens a Palm Beach flagship on Worth Avenue, showcasing Italian craftsmanship, vertical luxury, and timeless design.
Daniel’s Brings an Elevated Steakhouse Pop-Up to Palm Tree Club Miami’s Waterfront Scene
Daniel’s launches its first steakhouse pop-up at Palm Tree Club Miami, bringing award-winning cuisine to the waterfront weekdays.
The Art of Adornment How Gucci Interprets Heritage in High Jewelry
Haute Living exclusive Gucci High Jewelry editorial spotlighting the Labirinti, Horsebit, Marina Chain, and Monili collections.
Latest Stories
Trending Articles
Related Articles
Rewriting the Rules: Sedge Beswick on Risk, Motherhood, and Success
In a world that runs on conformity, Sedge Beswick has established her career through standing apart. A builder, forward-thinker, and creative strategist, Beswick has built her career by seeing new opportunities where everyone else sees risk.
MiLi Christmas Limited Edition — Christmas Gift Ideas That Shines Beyond the Holidays
Festive MiLi Christmas luggage tag with MiTag Duo—trackable, stylish, Apple & Android compatible, and useful all year round.
Top New Year’s Eve Hotel Experiences In Boston
From elegant multi-course meals to glamorous parties, here are some top New Year’s Eve hotel experiences in Boston for 2025.
Christopher King Opens Stunning Worth Ave Flagship in Palm Beach
Christopher King opens a Palm Beach flagship on Worth Avenue, showcasing Italian craftsmanship, vertical luxury, and timeless design.
Daniel’s Brings an Elevated Steakhouse Pop-Up to Palm Tree Club Miami’s Waterfront Scene
Daniel’s launches its first steakhouse pop-up at Palm Tree Club Miami, bringing award-winning cuisine to the waterfront weekdays.
The Art of Adornment How Gucci Interprets Heritage in High Jewelry
Haute Living exclusive Gucci High Jewelry editorial spotlighting the Labirinti, Horsebit, Marina Chain, and Monili collections.
Subscribe to Haute Living
Receive Our Magazine Directly at Your Doorstep
Embark on a journey of luxury and elegance with Haute Living magazine. Subscribe now and have every issue conveniently delivered to your home. Experience the pinnacle of lifestyle, culture, and sophistication through our pages.
Haute Black Membership
Your Gateway to Extraordinary Experiences
Join Haute Black and unlock access to the world's most prestigious luxury events