Before accepting Hudson’s Bay Co’s offer, Saks Inc. and its chief executive officer Steve Sadove were hot on the trail to buy Neiman Marcus Inc.
Saks’ bid, which was backed by private equity firm KKR, was ultimately rejected by Neiman’s owners as too low, opening the door for HBC to sweep in with an enriched offer to buy Saks. Although KKR is no longer working with Saks, it might still be eyeing Neiman’s, according to sources.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"