Luxury department store giants Saks Fifth Avenue and Neiman Marcus are merging, backed by Amazon, to create a powerhouse named Saks Global. The $2.65 billion deal will combine the iconic brands of Saks, Neiman Marcus, and Bergdorf Goodman under one umbrella, giving them more negotiating power with luxury brands. With industry shifts favoring direct-to-consumer sales, the merger aims to regain control in the competitive luxury market. Leadership changes were announced, with Saks.com CEO Marc Metrick and HBC Properties CEO Ian Putnam stepping into key roles. While facing potential regulatory scrutiny, Amazon's investment signals a push to innovate in the luxury retail space. The merger highlights the industry's response to changing consumer behaviors, emphasizing the importance of e-commerce and efficient logistics in attracting younger shoppers.