HBC announced the acquisition of Neiman Marcus for $2.65 billion, uniting two iconic luxury retailers in an effort to attract a new generation of shoppers amidst a decline in luxury spending. Amazon and Salesforce will have minority stakes in the company to assist with technology and logistics. The merger aims to bring stability amid sluggish growth as the landscape of department stores shifts. The deal, years in the making, will not result in store closures as Saks and Neiman Marcus appeal to different tiers of luxury consumers. The luxury retail market faced challenges during the pandemic, with inflation impacting consumer spending. Despite the decline in department store traffic, the merger aims to redefine the customer experience and expertly curate high-end goods. Though potential legal scrutiny may loom, the merger reflects a strategic move in a challenging retail environment.