NEW YORK, Dec. 18, 2015 /PRNewswire/ -- Hudson's Bay Company today announced plans to open a 16,750 square foot Saks Fifth Avenue Men's Store at Brookfield Place in downtown Manhattan in Spring 2017.
Located at 250 Vesey Street, the Saks Fifth Avenue Men's Store will showcase the retailer's updated strategy for its men's business. All product categories will be represented, with a focus on modern fashion. The store will also feature special services and amenities, including bespoke tailoring and personal shopping programs. With its expansive views of lower Manhattan, and a design emphasizing experiential shopping, the new Men's Store will offer an unrivaled fashion destination for the downtown customer.
"Building a free-standing 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 Marc Metrick, President, Saks Fifth Avenue. "We look forward to creating a tailored experience for our customers in a dedicated environment, filled with authoritative merchandising assortments."
Hudson's Bay Company previously announced its plans to open an 85,000 square foot Saks Fifth Avenue store, which will anchor the northern end of the Brookfield Place complex when it opens in Summer 2016. This location will not carry men's fashions, and will instead focus on creating dominant merchandising statements for women's categories. Additionally, the company plans to consolidate its U.S. headquarters at Brookfield Place by August 2016.
"We are thrilled that Hudson's Bay Company 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. "Brookfield is proud to be characterized by its illustrious retail partners and we expect the Saks Fifth Avenue Men's Store will be a standout presence among our distinguished offering of fine men's retailers."
Hudson's Bay Company remains focused on the continued expansion of the Saks Fifth Avenue brand across North America, as it delivers a differentiated shopping experience for the luxury customer.
About Hudson's Bay Company
Hudson's Bay Company is one of the fastest-growing department store retailers in the world, based on its successful formula of driving the performance of high quality stores and their all-channel offerings, unlocking the value of real estate holdings and growing through acquisitions. Founded in 1670, HBC is the oldest company in North America. With the recent completion of its acquisition of GALERIA Kaufhof Group, HBC's portfolio today includes nine banners, in formats ranging from luxury to better department stores to off price, with more than 460 stores and 65,000 employees around the world.
In North America, HBC's leading banners include Hudson's Bay, Lord & Taylor, Saks Fifth Avenue and Saks OFF 5TH, along with Find @ Lord & Taylor and Home Outfitters. In Europe, its banners include GALERIA Kaufhof, the largest department store group in Germany, Belgium's only department store group Galeria INNO, as well as Sportarena.
HBC has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in the HBS Global Properties Joint Venture, which owns properties in the United States and Germany. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.
SOURCE Saks Fifth Avenue