HOME

TheInfoList




Saks Fifth Avenue, originally A. Saks & Co., is an American
luxury Luxury may refer to: *Luxury goods, an economic good or service for which demand increases more than proportionally as income rises *Luxury tax, tax on products not considered essential, such as expensive cars *Luxury tax (sports), surcharge put ...
department store A department store is a retail Retail is the sale of goods In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics) ...
chain, with its origins in
Andrew Saks Andrew Saks (June 5, 1847 – April 9, 1912) was an American businessman known as the founder of Saks Fifth Avenue Saks Fifth Avenue, originally A. Saks & Co., is an American luxury department store chain, with its origins in Andrew Saks' A ...
' A. Saks & Co. store opened in
Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument The Washington Monument is an obelisk within the National Mall The National Mall is a Landscape architecture, landscape ...
's
F Street shopping district Parts of F Street and 7th Street, Northwest DC, N.W. and nearby blocks have historically been the heart of the Washington, D.C. Downtown Washington, D.C., downtown shopping district. In the first half of the 20th century there were numerous upscal ...
in 1867. Saks' flagship store is located on
Fifth Avenue Fifth Avenue is a major thoroughfare A thoroughfare is a primary passage or way as a transit route through regularly trafficked areas whether by road A road is a thoroughfare, route, or way on land between two Location (geography), places ...

Fifth Avenue
in
Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough New York City New York City (NYC), often simply called New York, is the List of United States cities by population, most populous city in the United States. With a ...

Midtown Manhattan
,
New York City New York, often called New York City to distinguish it from New York State New York is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of ...

New York City
. The 1924 New York store on Fifth Avenue lent its street name to the chain which would be known by what was originally the moniker of its flagship store, Saks Fifth Avenue. Since 2013, Saks Fifth Avenue has been owned by the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian, now American-owned, retail Retail is the sale of goods In economics Economics () is the social science that studies how people interact with ...
(HBC), along with HBC's namesake Canadian department stores. Subsidiary
Saks Off 5th Saks Off 5th, formerly Saks Fifth Avenue Off 5th, is an American off-priceOff-price is a trading format based on discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of brand A brand is a name, term, ...
, originally a clearance store for Saks Fifth Avenue, is now a large
off-price retailer A discount store or Discounter, discounter is a term that has been used over time and across different countries for a number of different retail formats, all of which sell products at prices that are in principle lower than an actual or supposed " ...
in its own right managed independently from Saks Fifth Avenue under HBC.


History


Origins: A. Saks & Co.

Andrew Saks Andrew Saks (June 5, 1847 – April 9, 1912) was an American businessman known as the founder of Saks Fifth Avenue Saks Fifth Avenue, originally A. Saks & Co., is an American luxury department store chain, with its origins in Andrew Saks' A ...
was born to a
German Jewish The history of the Jews in Germany goes back at least to the year 321, and continued through the Early Middle Ages (5th to 10th centuries CE) and High Middle Ages (''circa'' 1000–1299 CE) when Jews, Jewish settlers founded the Ashkenazi Jews, ...
family, in
Baltimore Baltimore ( , locally: ) is the most populous city The United Nations uses three definitions for what constitutes a city, as not all cities in all jurisdictions are classified using the same criteria. Cities may be defined as the city prop ...

Baltimore
. He worked as a peddler and paper boy before moving to Washington, D.C. where at the age of only 20, and in the still-chaotic and tough economic times of 1867, only two years after the United States prevailed in the
American Civil War The American Civil War (also known by other names Other most often refers to: * Other (philosophy), a concept in psychology and philosophy Other or The Other may also refer to: Books * The Other (Tryon novel), ''The Other'' (Tryon nove ...
, he established a men's clothing store with his brother Isadore A. Saks & Co. occupied a storefront in the Avenue House Hotel building at 517 (300-308) 7th Street, N.W., in what is still Washington's downtown shopping district. Saks offered his goods at one price only, no bargaining, and offered refunds on merchandise returns, neither of which were the more common practice at that place and time. Saks was also known for its "forceful and interesting, but strictly truthful" newspaper advertising, according to the Washington '' Evening Star'', including a two-page spread, large for that time, in that newspaper on April 4, 1898. Saks annexed the store next door, and in 1887 started building a large new store on the site of the old Avenue Hotel Building at 7th and Market Space (now United States Navy Memorial Plaza). In 1896 Saks opened a branch store in
Indianapolis Indianapolis (), colloquially known as Indy, is the List of U.S. state and territorial capitals, state capital and List of U.S. states' largest cities by population, most-populous city of the U.S. state of Indiana and the county seat, seat of ...

Indianapolis
in Ingall's Block, which was a success. then they expanded to
Norfolk, Virginia Norfolk ( ) is an independent city An independent city or independent town is a city or town that does not form part of another general-purpose local government entity (such as a province). Historical precursors In the Holy Roman Empire ...
, and by 1897 had six stores: Washington, D.C.,
Richmond, Virginia (Thus do we reach the stars) , image_map = , mapsize = 250 px , map_caption = Location within Virginia , pushpin_map = Virginia#USA , pushpin_label ...
,
Norfolk, Virginia Norfolk ( ) is an independent city An independent city or independent town is a city or town that does not form part of another general-purpose local government entity (such as a province). Historical precursors In the Holy Roman Empire ...
, Indianapolis, and two stores as well as a clothing factory in
New York City New York, often called New York City to distinguish it from New York State New York is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of ...

New York City
. Saks called itself "Washington's Wonderful Store".


Saks on Fifth Avenue, New York City

Saks opened a very large store in 1902 in
New York City New York, often called New York City to distinguish it from New York State New York is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of ...

New York City
's
Herald Square Herald Square is a major commercial intersection in the Midtown Manhattan neighborhood of New York City, formed by the intersection of Broadway (Manhattan), Broadway, Sixth Avenue (officially Avenue of the Americas), and 34th Street (Manhattan), ...
on 34th Street and
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd St ...
. Andrew Saks ran the New York store as a family affair with his brother Isadore, and his sons Horace and William. Andrew Saks died in 1912 and his son Horace took over the company's management. In 1923, Saks & Co. merged with Gimbel Brothers, Inc., which was owned by a cousin of Horace Saks, Bernard Gimbel, operating as a separate autonomous subsidiary. On September 15, 1924, Horace Saks and Bernard Gimbel opened in the Saks Fifth Avenue Building at 611 Fifth Avenue, with a full-block avenue frontage south of St. Patrick's Cathedral, facing what would become
Rockefeller Center Rockefeller Center is a large complex consisting of 19 commerce, commercial buildings covering between 48th Street (Manhattan), 48th Street and 51st Street (Manhattan), 51st Street in Midtown Manhattan, New York City. The 14 original Art Deco ...

Rockefeller Center
. The architects were
Starrett & van Vleck Starrett & van Vleck (often spelled Starrett & Van Vleck) was an American architectural firm based in New York City which specialized in the design of department stores, primarily in the early 20th century. It was active from 1908 until at least t ...
, who developed a design derived from
classical architecture Classical architecture usually denotes architecture upright=1.45, alt=Plan d'exécution du second étage de l'hôtel de Brionne (dessin) De Cotte 2503c – Gallica 2011 (adjusted), Plan of the second floor (attic storey) of the Hôtel de ...

classical architecture
. When Bernard's brother, Adam Gimbel, became president of Saks Fifth Avenue in 1926 after Horace Saks's sudden passing, the company expanded, opening seasonal resort branches in Palm Beach, Florida, and Southampton, New York, in 1928. The first full-line year-round Saks store opened in Chicago, in 1929, followed by another resort store in Miami Beach, Florida. In 1938, Saks expanded to the West Coast, opening in Beverly Hills, California. By the end of the 1930s, Saks Fifth Avenue had a total of 10 stores, including resort locations such as Sun Valley, Idaho, Stowe Mountain Resort, Mount Stowe, and Newport, Rhode Island. More full-line stores followed with Detroit, Michigan, in 1940 and Pittsburgh, Pennsylvania, in 1949. In Downtown Pittsburgh, the company moved to its own freestanding location approximately one block from its former home on the fourth floor in the downtown Gimbel's flagship. The San Francisco location opened in 1952, competing locally with I. Magnin. BATUS Inc. acquired Gimbel Bros., Inc. and its Saks Fifth Avenue subsidiary in 1973 as part of its diversification strategy. More expansion followed from the 1960s through the 1990s including the Midwest, and the South, particularly in Texas. In 1990, BATUS sold Saks to Investcorp, Investcorp S.A., which took Saks public in 1996 as Saks Holdings, Inc. In 1990, the company launched "Saks Off 5th", an outlet store offshoot of the main brand, with 107 stores worldwide by 2016.


Under Proffitt's and Saks, Inc.

In 1998, Proffitt's, Inc. the parent company of Proffitt's and other department stores, acquired Saks Holdings Inc. Upon completing the acquisition, Proffitt's, Inc. changed its name to Saks, Inc. Since 2000 Saks has opened international locations in Saudi Arabia, United Arab Emirates, Bahrain, Kazakhstan, Canada, and in 2007, Mexico City."Saks Incorporated Announces Saks Fifth Avenue’s Mexico City Opening", Press Release via Business Wire, November 2007
/ref> In August 2007, the United States Postal Service began an experimental program selling the plus zip code extension to businesses. The first company to do so was Saks Fifth Avenue, which received the zip code of 10022-7463 ("SHOE") for the eighth-floor shoe department in its flagship
Fifth Avenue Fifth Avenue is a major thoroughfare A thoroughfare is a primary passage or way as a transit route through regularly trafficked areas whether by road A road is a thoroughfare, route, or way on land between two Location (geography), places ...

Fifth Avenue
store. During the Great Recession, 2007–2009 recession, Saks Fifth Avenue had to close some stores and to cut prices and profit margins, thus according to Reuters "training shoppers to expect discounts. It took three years before it could start selling at closer to full price". In the following years, the company closed stores in locations including Orange County, California, Orange County (2010), Denver (2011), Pittsburgh (2012), Highland Park, Illinois (2012/13) and in June 2013 its last Dallas store to implement the "strategy of employing our resources in our most productive locations". As of 2013, the New York flagship store, whose real estate value was estimated between $800 million and over $1 billion at the time, generated around 20% of Saks' annual sales at $620 million, with other stores being less profitable according to analysts.


Under Hudson's Bay Company


2013 – present

On July 29, 2013, the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian, now American-owned, retail Retail is the sale of goods In economics Economics () is the social science that studies how people interact with ...
(HBC), the oldest commercial corporation in North America and owner of the competing chain Lord & Taylor, announced it would acquire Saks Fifth Avenue's parent company for United States dollar, US$2.9 billion. Plans called for up to seven Saks Fifth Avenues to open in major Canadian markets. In January 2014, HBC announced the first Saks store in Canada would occupy in its flagship Hudson's Bay Queen Street, Queen Street building in downtown Toronto, connected to the Toronto Eaton Centre via sky bridge. The store opened in February 2016 with a second Toronto area location in the Sherway Gardens shopping center opening in spring 2016. On February 22, 2018, Saks Fifth Avenue opened its third Canadian store in Calgary, Alberta. In 2015 Saks began a $250 million, three-year restoration of its
Fifth Avenue Fifth Avenue is a major thoroughfare A thoroughfare is a primary passage or way as a transit route through regularly trafficked areas whether by road A road is a thoroughfare, route, or way on land between two Location (geography), places ...

Fifth Avenue
flagship store. In October 2015, Saks announced a new location in Greenwich, Connecticut. In autumn 2015, Saks announced it would replace its existing store at the The Galleria (Houston), Houston Galleria with a new store. In 2016 Saks opened at Brookfield Place (New York City), Brookfield Place in Lower Manhattan's Financial District, Manhattan, Financial District, hoping to make it "Lower Manhattan’s preeminent luxury department store" but closed two years later.Lauren Sherman, "Inside the Reinvention of Saks Fifth Avenue", ''BoF'', September 6, 2016
/ref>Marianne Wilson, "Saks Fifth Avenue to exit Brookfield Center", ''Chain Store Age'', 12/17/2018
/ref> In 2021, Saks announced that it would close all 27 of its fur salons, including those located in New York, Boston, Philadelphia and Beverly Hills, by the end of January 2022. The company also said it would stop both online and in-store sales of products made from animals raised for their fur or those made with fur from wild animals by January 2023. In August 2021, Saks Fifth Avenue announced that it would be teaming up with WeWork to open new co-working locations.


Legal controversies

In 2005, vendors filed against Saks alleging unlawful chargebacks. The U.S. Securities and Exchange Commission (SEC) investigated the complaint for years and, according to the ''New York Times'', "exposed a tangle of illicit tactics that let Saks... keep money it owed to clothing makers", inflating Saks' yearly earnings up to 43% and abusively collecting around $30 million from suppliers over seven years. Saks settled with the SEC in 2007, after firing three or more executives involved in the fraudulent activities. In 2014, Saks fired transgender employee Leyth Jamal after she was allegedly "belittled by coworkers, forced to use the men's room and repeatedly referred to by male pronouns (he and him)". After Jamal submitted a lawsuit for unfair dismissal, the company stated in a motion to dismiss that "it is well settled that transsexuals are not protected by Title VII of the Civil Rights Act of 1964." In a court filing, the United States Department of Justice rebuked Saks' argument, stating that "discrimination against an individual based on gender identity is discrimination because of sex." The Human Rights Campaign removed the company from its list of "Straight ally, allies" during the controversy. The lawsuit was later settled amicably, with undisclosed terms. In 2017, following Hurricane Maria in Puerto Rico, Saks's San Juan store in Mall of San Juan suffered major damages along with its neighboring anchor store Nordstrom. Taubman Centers, the company which owns the mall, filed a lawsuit against Saks for failing to provide an estimated reopening date and failing to restore damages after the hurricane due to a binding contract. Although Nordstrom reopened on November 9, 2018, on October 30, 2018, Saks Fifth Avenue announced that it would officially vacate The Mall Of San Juan.


Notable locations


Saks–34th Street

Saks-34th Street was a fashion-focused middle market department store at 1293-1311 Broadway on Herald Square. The building, built in 1902, had seven stories and was designed by Buchman & Fox.https://www.nytimes.com/1995/04/16/realestate/streetscapes-saks-the-giant-leap-from-sixth-avenue-to-fifth-avenue.html The store was spun off from Saks & Company when that upscale retailer moved to Fifth Avenue, a location that Saks Fifth Avenue maintains to this day. The newly renamed Saks-34th Street was sold to Bernard F. Gimbel, and became a part of the New York division of Gimbels (later Manhattan Mall), and a sky bridge across 33rd Street connected the second floors of both flagship buildings. In the 1947 movie ''Miracle on 34th Street'' the facade of Saks-34th Street is shown in a scene that focuses on the Gimbel's flagship store. Branch locations were opened around the greater New York area. The store closed in 1965, citing poor layouts, no escalators, a confused identity, and outdated facade. After Gimbels decided to close the division, the first floor of the building was used as a Christmas season annex for Gimbel's before being sold to the E. J. Korvettes chain. After the demise of the Korvette's chain the building was remodeled into the Herald Center, in 1985. the primary tenant is H&M, following another remodel.


Beverly Hills

The Saks Fifth Avenue store on Wilshire Boulevard in Beverly Hills, California was designed by the architectural firm John and Donald Parkinson, Parkinson and Parkinson, with interiors by Paul Williams (architect), Paul R. Williams. The store opened in 1938. The store was immediately successful upon opening and it would subsequently expand to almost and employ 500 people. Williams created an interior reminiscences of his designs for luxurious private residences, with rooms lit by indirect lamps and footlights focused on the clothes. New departments for furs, corsets, gifts and debutante dresses were added in the 1940 expansion.


Gallery

File:Sakslogo.svg, The 1996–2007 logo File:Centro comercial sante fe.jpg, Saks Fifth Avenue in Santa Fe Mall in Mexico City. File:Big cowboy boots at the North Star Mall (San Antonio, Texas) 004 crop.jpg, Saks at the North Star Mall in San Antonio, Texas File:Saks Atlanta.jpg, Saks Fifth Avenue at Phipps Plaza in Atlanta, Georgia


References


External links


Official website
{{Authority control Saks Fifth Avenue,