Saks in Talks to Sell Stake in Bergdorf Goodman
The retail industry is buzzing with news of Saks' potential sale of a stake in luxury department store Bergdorf Goodman.
Bergdorf Goodman News and Analysis
About Bergdorf Goodman
**Bergdorf Goodman: A Legacy in Luxury Retail** Bergdorf Goodman is a renowned luxury department store located on Fifth Avenue in New York City. Founded in 1899 by Herman Bergdorf, the store became a partnership with his apprentice, Edwin Goodman, in 1901. After buying out Bergdorf in 1903, Goodman transformed the business into a pioneering force in ready-to-wear fashion, revolutionizing the industry by offering high-quality, exclusive garments to the American market[4][5][6]. **History and Milestones:** - **Early Years:** Bergdorf Goodman introduced ready-to-wear in 1914, making it a hub for both American and French fashion. The store moved to its iconic location on Fifth Avenue in 1928[4][5]. - **Expansion and Acquisitions:** In 1972, Bergdorf Goodman was sold to Carter Hawley Hale Stores. Later, in 1987, it was spun off as part of the Neiman Marcus Group, along with Neiman Marcus and Contempo Casuals[1][3]. - **Modern Developments:** The men's store opened in 1990 across from the main location. Today, Bergdorf Goodman is celebrated for its luxury offerings and influence in the fashion world[3][8]. **Key Achievements:** - **Innovation in Fashion:** Bergdorf Goodman was the first American couturier to offer ready-to-wear, setting a new standard for luxury fashion. - **Luxury Retail Leadership:** The store has been instrumental in showcasing emerging designers and hosting exclusive events, contributing significantly to New York City's fashion scene[5][6]. **Current Status:** Bergdorf Goodman continues to be a cornerstone of luxury retail, known for its high-end designer apparel and exclusive goods. With an estimated annual sales of $600 million and over 160,000 visitors per month, it remains a premier destination for fashion enthusiasts[7]. **Notable Aspects:
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