Toronto — Saks Fifth Avenue OFF 5TH will open its first stores to Canadian shoppers on March 17, 2016 in Vaughan Mills, Halton Hills and Niagara-on-the-Lake, Ontario. These Ontario locations are the first of nine to open in 2016 and up to 25 nationwide in the coming years.
“There is great anticipation and consumer interest for our Saks OFF 5TH luxury off-price format in Canada,” says Jonathan Greller, president, HBC Off-Price.
The luxury off-price format is one of the fastest growing retail segments in the U.S. (Moody’s 2015), yet still underdeveloped in Canada. This provides a significant opportunity to grow the Saks OFF 5TH brand across the country and answer the consumer demand evident in the strong Canadian consumer base already shopping Saks OFF 5TH U.S. stores.
As part of the Hudson’s Bay Company brand portfolio, Saks Fifth Avenue OFF 5TH has 92 stores and an e-commerce division, saksoff5th.com.
SOURCE: Hudson’s Bay