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Why Saks Is In Trouble — and How PE Is To Blame

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Manage episode 490463460 series 3673367
Content provided by Social Currency. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Social Currency or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Today Sammi digs into the retail scandal that ties together private equity, power plays, broken promises, and a $2.65 billion luxury merger that's now unraveling in public. Also known as: the story of Saks.

Sammi follows the money trail to the center of Saks’ downfall: the mastermind behind the merger that would lead to the financial and reputational mess the brand is in now. This isn't a story about just one department store. It's a case study in how private equity can gut a brand, how debt can disguise dysfunction, and how small businesses are often the ones that are left holding the bag.

Today Sammi Covers:

00:00 How Saks Got Here

00:33 Richard Baker: the Mastermind

01:30 The Saks and Neiman Marcus Merger

02:00 Richard Baker's Wild Real Estate Strategy

04:31 Saks' Financial Decline

08:01 Vendor Fallout

10:13 What’s Next For Saks

12:50 How to Show Social Currency Some Love

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

17 episodes

Artwork
iconShare
 
Manage episode 490463460 series 3673367
Content provided by Social Currency. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Social Currency or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Today Sammi digs into the retail scandal that ties together private equity, power plays, broken promises, and a $2.65 billion luxury merger that's now unraveling in public. Also known as: the story of Saks.

Sammi follows the money trail to the center of Saks’ downfall: the mastermind behind the merger that would lead to the financial and reputational mess the brand is in now. This isn't a story about just one department store. It's a case study in how private equity can gut a brand, how debt can disguise dysfunction, and how small businesses are often the ones that are left holding the bag.

Today Sammi Covers:

00:00 How Saks Got Here

00:33 Richard Baker: the Mastermind

01:30 The Saks and Neiman Marcus Merger

02:00 Richard Baker's Wild Real Estate Strategy

04:31 Saks' Financial Decline

08:01 Vendor Fallout

10:13 What’s Next For Saks

12:50 How to Show Social Currency Some Love

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

17 episodes

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