Saks Fifth Avenue is looking to nab a larger share of the men’s market in 2017.
The luxury department store’s owner, Hudson’s Bay Co., announced Friday that it plans to open a 16,750-sq.-ft. Saks Fifth Avenue men’s store at Brookfield Place in downtown Manhattan in spring 2017.
“Building a freestanding Saks Fifth Avenue Men’s Store at the crossroads of the U.S. financial market and New York City’s burgeoning downtown fits perfectly with our vision to expand our leadership position in the luxury space,” said Saks President Marc Metrick in a release. “We look forward to creating a tailored experience for our customers in a dedicated environment, filled with authoritative merchandising assortments.”
The new digs will be located at 250 Vesey Street, and its products will emphasize modern fashion and the retailer’s updated strategy for its men’s business, HBC said.
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The store will also feature special services and amenities, including tailoring and personal shopping.
HBC had previously announced its commitment to anchoring the northern end of the Brookfield Place complex by opening an 85,000-sq.-ft. Saks Fifth Avenue store next summer. That location will exclusively offer products in the women’s category, the company said.
“We are thrilled that Hudson’s Bay Co. has increased its commitment at Brookfield Place through the addition of a new Saks Fifth Avenue Men’s Store,” said Dennis Friedrich, CEO of the Global Office division of Brookfield Property Partners, in a statement. “Brookfield is proud to be characterized by its illustrious retail partners, and we expect the Saks Fifth Avenue men’s store to be a standout presence among our distinguished offering of fine men’s retailers.”
HBC said it plans to consolidate its U.S. headquarters at Brookfield Place by August 2016.
