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Amazon’s luxury storefront will carry on with or without Saks

Less than a year ago Saks Fifth Avenue began curating a high-end assortment for the e-commerce giant, but the two are now at odds.

Saks Global is moving to exit its partnership with Amazon as part of its bankruptcy, but Amazon’s luxury storefront will continue without it, the e-commerce giant said by email.

In that document, submitted the same day Saks Global filed for bankruptcy, Amazon called its investment in the $2.7 billion Saks-Neiman deal — for about a 23% stake — “worthless” and accused Saks of breaching their agreement.

Amazon’s luxury storefront will carry on with or without Saks | Retail Dive

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