So What Happened To Saks Global? Part 4: It Was The Customers, Stupid

Forbes Business

by Lilian Raji, Contributor

February 25, 2026

AI-Generated Deep Dive Summary

The article explores the decline of Saks Global, focusing on Richard Baker's real estate ventures and Marc Metrick's financial strategies, which are often cited as factors in the company's downfall. However, it argues that a simpler explanation—customer dissatisfaction—played a pivotal role. The piece suggests that while Baker and Metrick's decisions may have contributed to challenges, the root cause lies in losing touch with customer needs and preferences. The article highlights how Saks Global's focus on high-end real estate projects and financial restructuring alienated its core customer base. Richard Baker's obsession with luxury properties and Marc Metrick's emphasis on financial metrics like EBITDA created a disconnect from the brand's original appeal to middle-class consumers. This shift in strategy led to declining sales, as customers felt the company was no longer aligned with their values or offerings. The article emphasizes that the simplest explanation—customer dissatisfaction—is often the most overlooked factor in business failures. It underscores the importance of understanding and prioritizing customer needs, even when pursuing ambitious financial and strategic goals. For readers interested in business, this highlights the critical role of maintaining customer trust and adaptability in changing market dynamics. In conclusion, while Richard Baker's real estate deals and Marc Metrick's financial lens were significant factors, the article argues that Saks Global's downfall was ultimately driven by losing its connection with customers. This serves as a cautionary tale for businesses to balance growth strategies with customer-centric approaches.

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Originally published on Forbes Business on 2/25/2026