Who Owns Saks Fifth Avenue?
Saks Fifth Avenue is part of Saks Global Enterprises, which filed for Chapter 11 bankruptcy protection in January 2026. The company expects to exit bankruptcy in summer 2026 under new ownership by its lender group. Saks Fifth Avenue was founded in 1924 and is headquartered in New York City.
Parent Company
Saks Global Enterprises
Acquired
2024
Status
Private
Headquarters
New York City, New York, USA
Who Owns Saks Fifth Avenue?
- Parent Company: Saks Global Enterprises
- Ownership Type: Bankruptcy restructuring
- Acquisition Year: 2024
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Saks Fifth Avenue | Saks Global Enterprises | Bankruptcy restructuring |
History of Saks Fifth Avenue
- Founded: 1924
- Founders: Horace Saks, Bernard Gimbel
- Acquired by Saks Global Enterprises: 2024
Saks Fifth Avenue opened its flagship store on Fifth Avenue in Midtown Manhattan in September 1924, founded by Horace Saks and Bernard Gimbel. The Fifth Avenue location at 49th Street quickly became a landmark of American luxury retail, attracting celebrity clientele and establishing the brand's association with aspirational fashion and prestige.
The Gimbel family sold Saks to BATUS Inc. (British American Tobacco US) in 1973, beginning a long series of ownership changes. Proffitt's Inc. acquired Saks in 1998, then renamed itself Saks Incorporated. Saks went public and operated as a standalone public company through the 2000s and 2010s.
Hudson's Bay Company (HBC), the Canadian retail conglomerate, acquired Saks Fifth Avenue in 2013 for $2.4 billion. HBC operated Saks alongside its other retail brands including Hudson's Bay, Lord and Taylor, and Gilt.
In July 2024, HBC sold Neiman Marcus Group to a newly created entity, Saks Global Enterprises, combining Saks Fifth Avenue with Neiman Marcus and Bergdorf Goodman. The deal was valued at approximately $2.7 billion and included an Amazon equity investment of approximately $475 million.
Saks Global's combined entity struggled to manage the debt load from the acquisition while navigating declining foot traffic and vendor payment challenges. The company filed for Chapter 11 bankruptcy in January 2026.
About Saks Global Enterprises
American luxury retail holding company combining Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman under one entity, currently in Chapter 11 bankruptcy proceedings as of January 2026.
- Founded: 2024
- Headquarters: New York City, New York, USA
- Company Type: Privately Held
- Revenue: Undisclosed (private, in bankruptcy)
- Employees: ~19,000
Where Is Saks Fifth Avenue Made / Based?
- Headquarters: New York City, New York, USA
Competitors to Saks Fifth Avenue
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Nordstrom | USA | 1901 | Upscale department-store-leader | United states | Unisex | |
| Woolworths Group | Australia | 1964 | Mass market | Australia | All-ages | |
| Canadian Tire Corporation | Canada | 1922 | Mass market | Regional | All-ages | |
| Qatar Investment Authority | United Kingdom | 1849 | Premium | Global | All-ages | |
| Canadian Tire Corporation | Canada | 1670 | Premium | Global | Unisex | |
| Jd Sports Fashion Plc | England | 1981 | Mass market | Global | All-ages |
Learn More About Competitors
Nordstrom
Owned by Unknown Company
American luxury and upscale department store chain known for its broad selection of premium fashion, footwear, and beauty brands, operating Nordstrom full-line stores and the off-price Nordstrom Rack format.
Big W
Owned by Woolworths Group Limited
Australian discount department store chain offering general merchandise, clothing, electronics, and homewares at affordable prices across hundreds of stores nationwide.
Canadian Tire
Owned by Canadian Tire Corporation, Limited
Canadian retail corporation operating department stores, gas stations, and financial services, known for automotive products and household goods.
Harrods
Owned by Qatar Investment Authority
British luxury department store located in London, owned by Qatar Investment Authority, offering premium goods and services across multiple categories.
Hudson's Bay
Owned by Canadian Tire Corporation, Limited
Canadian department store chain and Canada's oldest company, now owned by Canadian Tire Corporation through intellectual property acquisition.
JD Sports
Owned by JD Sports Fashion plc
British multinational sports-fashion retail company specializing in athletic footwear, sportswear, and casual fashion apparel.
Competitive Analysis
Market Positioning: Saks Fifth Avenue competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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