Saks Fifth Avenue to shutter
Brookfield Place store

Location was a "test concept," company says

New York /
Dec.December 18, 2018 09:30 AM
Saks Fifth Avenue’s Brookfield Place location at 225 Liberty Street (Credit: Found Associates)

Only two years after opening the Brookfield Place location, Saks Fifth Avenue’s women’s store is calling it quits.
Saks will close its 86,000-square-foot women’s store on Jan. 5 because it wasn’t enough of a draw compared to the Saks Fifth Avenue flagship, the New York Post reported. 
“This Saks branch location was a test concept,” Saks said in a statement. According to store representatives, customers’ “preferred format is a combination of our digital channels and our iconic Fifth Avenue flagship.”
The company, however, is keeping its 16,700-square-foot men’s store, which is located across the mall from the women’s store.
Meanwhile, near the Saks flagship, Lord & Taylor is emptying its 104-year-old store at 425 Fifth Avenue. The store’s parent company, Hudson’s Bay, struck a deal to sell the building to WeWork in October 2017 for $854 million. The co-working company and its partner Rhone Capital, however, have yet to close on the building.

Jonathan Litt, an activist investor on the Hudson’s Bay board, pushed last year to stack luxury condos on Saks’ Fifth Avenue flagship store at  611 Fifth Avenue. 

[NYP] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
Freshly CEO Michael Wystrach and 28 East 28th Street (Photos via Twitter; Google Maps)
Freshly inks big lease in NoMad
Freshly inks big lease in NoMad
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
15 Park Row (Google Maps)
J&R Music founders sell Park Row apartment tower for $140M
J&R Music founders sell Park Row apartment tower for $140M
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...