US luxury goods e-commerce platform Saks.com LLC has increased its existing financing from $350 million to $450 million to support continued growth. A second loan was increased from $115 million to $175 million. Both lines of credit are due in 2026, according to the US news service Businesswire.
“We believe that securing this additional financing reflects confidence in our strong foundation and positive momentum as we position Saks as a leader in luxury e-commerce,” said Vince Phelan, Saks Chief Financial Officer.
Saks.com automatically links to saksfifthavenue.com and operates exclusive and seamless partnerships with Saks Fifth Avenue stores. In addition to the regular range, the Saks website and app provide access to professional stylists, editorial content and interactive events. Saks is majority owned by HBC Holding, while Saks Fifth Avenue, with its physical stores, is 100 percent owned by Hudson’s Bay retail group, which in turn is part of HBC Holding.