New York City — HBC and leading growth capital investor Insight Partners have entered into a partnership that establishes Saks Fifth Avenue’s e-commerce business as a standalone entity, which will be known as Saks. Insight Partners has made a $500 million minority equity investment in Saks, valuing the business at $2 billion. The retailer’s 40-store fleet will operate separately as an entity referred to as SFA, which remains wholly owned by HBC. As separate but related sister companies, Saks and SFA will be better able to appropriately plan for and …
New York City — Authentic Brands Group (ABG), a global brand owner, marketing and entertainment company, has emerged as the successful bidder to purchase the intellectual property of Barneys New York (Barneys). Through this acquisition, which closed on November 1, ABG will enhance its luxury footprint and further establish its position as a leader in contemporary fashion. “We are thrilled that our offer for Barneys has been accepted,” says Jamie Salter, founder, chairman and CEO of Authentic Brands Group. “Barneys is one of the most recognizable and iconic names in …
New York City — On February 5, 2019, Saks Fifth Avenue opened one of the largest luxury handbag destinations in New York City, furthering the $250 million ‘grand renovation’ of its Fifth Avenue flagship. The 53,000-square-foot main floor of the New York Flagship triples the handbag department selling space which includes more than 50 brands —14 of which are new to the store.
New York City — Saks Fifth Avenue has completed its newest store and third New York City location, Saks Downtown Men’s. The 16,000-square-foot store is located at the northern end of the burgeoning Brookfield Place in lower Manhattan. A dedicated Saks women’s store opened on the south side of Brookfield Place in September 2016.
New York City and Calgary, Alberta (Canada) — Saks Fifth Avenue plans to open its third Canadian location, in Calgary, Alberta. Expected to open in January 2018, the 115,000-square-foot, two-level location will be part of CF Chinook Centre, a Cadillac Fairview property. The new store will feature a modern and authoritative merchandise assortment. In addition to its elevated assortment, the new location will offer a full service Fifth Avenue Club, complete with private suites and personal shopping consultants.
New York City — Hudson’s Bay Company plans to open a 16,750-square-foot Saks Fifth Avenue Men’s Store at Brookfield Place in downtown Manhattan in spring 2017.
New York and Toronto — Saks Fifth Avenue is revealing details about the previously announced opening of two full-line Saks Fifth Avenue stores in Toronto, Canada. The 163,000-square-foot location in the Eaton Centre at Queen Street is expected to open on February 18, 2016. A week later, the 150,000-square-foot Sherway Gardens location is anticipated to open on February 25, 2016.