Saks Fifth Avenue facts for kids
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Exterior of the flagship store in Midtown Manhattan (2019)
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Formerly
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| Subsidiary | |
| Industry | Retail |
| Genre | Department stores |
| Founded | 1867 in Washington D.C., United States |
| Founder | Andrew Saks |
| Headquarters | New York City, New York, United States |
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Number of locations
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42 |
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Areas served
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Saks Fifth Avenue, often called Saks, is a famous American department store. It sells luxury items like fancy clothes and accessories. Andrew Saks started the company in 1867.
The very first Saks store opened in Washington, D.C.. Later, in 1902, a store opened in New York City. In 1923, a company called Gimbels bought Saks. Under Gimbels, Saks grew across the country. Its most famous store, the flagship store, opened on Fifth Avenue in New York in 1924.
Over the years, Saks was owned by different companies. In 1990, a new store type called Saks Off 5th was created. These stores sell Saks items at lower prices. In 2013, the Hudson's Bay Company bought Saks. More recently, in 2024, Saks became part of a new company called Saks Global. This made Saks sister brands with other big stores like Bergdorf Goodman and Neiman Marcus.
Contents
The Start of Saks: Early History
Andrew Saks was born in Baltimore, Maryland. He started working at a young age, selling things and delivering newspapers. In 1867, when he was just 20, he opened a men's clothing store. This was in Washington, D.C., with his brother Isadore.
Their store, A. Saks & Co., was on 7th Street. Andrew Saks had some new ideas for his time. He sold items at one set price, so no bargaining was needed. He also offered refunds if customers returned items. These ideas were not common back then. Saks was also known for its "truthful" newspaper ads. By 1896, Saks & Co. had stores in several cities. These included New York City and Indianapolis.
Saks in the 20th Century
In 1902, Saks opened a very large store in New York City's Herald Square. Andrew Saks ran this store with his brother and sons. After Andrew Saks passed away in 1912, his son Horace took over.
Gimbels Takes Over Saks
In 1923, Saks & Co. joined with Gimbel Brothers, Inc.. They were still run as a separate business. On September 15, 1924, Horace Saks and Bernard Gimbel opened the famous Saks Fifth Avenue Building. This grand store was on Fifth Avenue in New York.
After Horace Saks died in 1926, Adam Gimbel became president. Under his leadership, Saks Fifth Avenue grew even more. They opened smaller stores in popular vacation spots. These included Palm Beach and Atlantic City.
By the end of the 1930s, Saks Fifth Avenue had 10 stores. Two were large main stores in New York and Chicago. The other eight were smaller resort stores. During World War Two, Saks opened special shops for military members. After the war, some of these became "University Shops" near colleges.
Saks also opened big stores in Beverly Hills and Detroit in 1940. After the war, more stores opened in cities like Pittsburgh and Philadelphia.
In the 1950s, people started shopping more in suburban malls. Saks Fifth Avenue opened its first mall store in 1954. Many more Saks stores opened in malls through the 1990s.
New Owners and More Growth
Saks continued to expand in the 1990s, especially in Texas, Florida, and California. When I. Magnin stores closed in 1995, Saks took over some of their locations. This helped Saks open new stores in places like San Diego. They also opened smaller "Main Street" stores in suburbs.
In 1990, the company started "Saks Off 5th". These are outlet stores that sell items at a discount. By 2016, there were 107 Saks Off 5th stores around the world. In 1998, a company called Proffitt's, Inc. bought Saks. Proffitt's then changed its name to Saks, Inc..
Saks in the 21st Century
In 2004, Saks was growing, but some competitors were growing faster. Saks closed eight smaller stores that were not doing well. These included locations in California and New York.
During the economic downturn from 2007 to 2009, Saks had to lower its prices. This meant shoppers started expecting discounts. It took a few years for Saks to sell items closer to their original prices again. By 2013, the New York flagship store was very valuable. It made about 20% of Saks' total sales.
Under Hudson's Bay Company
On July 29, 2013, the Hudson's Bay Company (HBC) from Canada bought Saks. HBC also owned another store chain called Lord & Taylor.
In 2015, Saks began a big renovation of its Fifth Avenue flagship store. This project cost $250 million. Saks also opened new locations in Greenwich, Connecticut and Houston.
In 2021, Saks Fifth Avenue opened a special area called Barneys at Saks in its New York store. This part of the store helps new designers. Later, a standalone Barneys at Saks store opened in Greenwich, Connecticut. In March 2021, HBC separated Saks Fifth Avenue's online business. It became its own company called "Saks." The physical stores remained owned by HBC.
In April 2021, Saks announced it would stop selling fur products. This change was completed by January 2023. In August 2021, Saks worked with WeWork to turn some store spaces into shared workspaces. In June 2022, Saks announced plans to change its original 1938 store building in Beverly Hills into offices and apartments. The Saks store in Beverly Hills moved to other nearby buildings.
Under Saks Global
In July 2024, Saks announced plans to buy another big store, Neiman Marcus. This merger was completed in December 2024. Saks Fifth Avenue then became part of the new company called Saks Global.
Saks Around the World
Canada
When HBC bought Saks in 2013, they planned to open Saks stores in Canada. Three stores eventually opened. In February 2016, a large Saks Fifth Avenue opened in downtown Toronto. Another store opened nearby at Sherway Gardens. In February 2018, a third Canadian store opened in Calgary.
However, in March 2025, it was announced that two of the three Saks Fifth Avenue stores in Canada would close. All 13 Saks Off 5th stores in Canada also closed.
India
In early 2025, Saks signed an agreement with Reliance Industries. This plan is to open Saks Fifth Avenue and Saks Off 5th stores in India.
Mexico
In November 2007, Grupo Sanborns opened the first Saks store in Mexico. It was in Mexico City at Centro Santa Fe, a large mall. This store closed in 2022. Another store opened in Polanco in 2010, but it closed in October 2020.
In August 2023, Grupo Sanborns announced the last Saks store in Mexico would close. This was the store at Centro Santa Fe. A Sears Mexico store took its place.
Middle East
In November 2001, the first Saks store in the Middle East opened in Riyadh, Saudi Arabia. This store closed in 2012. In 2003, plans were made for stores in Bahrain, Kuwait, Qatar, and the United Arab Emirates.
In 2005, Saks opened a large store in Dubai. This store closed in 2016. It was Saks' last store in the UAE. In 2008, Saks opened its third Middle East store in Manama, Bahrain. This store is still open and is Saks' only store in the Middle East.
In 2012, Saks opened its first store in Central Asia. It was in Almaty, Kazakhstan, at the Esentai Mall. This store is three floors tall.
Famous Saks Locations
Saks–34th Street
Saks-34th Street was a department store in New York City's Herald Square. It was in a seven-story building built in 1902. This store was separated from Saks & Company when the main Saks store moved to Fifth Avenue. Saks-34th Street was sold to Bernard F. Gimbel. It became part of Gimbels and was connected to the Gimbel's main store by a bridge.
The store closed in 1965. Reasons included its confusing layout and old design. The building was later remodeled into the Herald Center in 1985. Today, a store called H&M is the main tenant there.
Beverly Hills Store
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The first Saks Fifth Avenue store in Beverly Hills opened in 1938. It was designed by famous architects. The store was very successful right away. It grew to be very large and had many employees. The inside of the store looked like a luxurious home.
The store moved to a new location nearby in 2024. The original building will be turned into offices and apartments.
Images for kids
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The Herald Square Saks & Co. store in 1903, behind the 33rd Street station
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Saks Miami Beach on Lincoln Road (1940)
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Sports-themed displays at Saks Houston (1987)
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Former Saks Pavilion in Houston (1992)
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Saks at the North Star Mall in San Antonio, Texas
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Saks Fifth Avenue at Phipps Plaza in Atlanta, Georgia.
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Bar in Saks Fifth Avenue Houston in the Galleria Mall Houston, Texas
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See also
In Spanish: Saks Fifth Avenue para niños
