Saks Fifth Avenue' s Luxury Designer Floor Renovation
Saks Fifth Avenue has gone
all out
for its new designer floor in its New York store.
Construction on a renovated, bronze-trimmed, artistically detailed third level at Saks' Manhattan flagship is nearing completion. At 61,000 square feet, the area is the nation's most spacious designer floor and home to a panoply of haute European and American collections such as Chanel, Giorgio Armani, Oscar de la Renta and Ralph Lauren — 49 in total and 20 with hard shops.
It's also undoubtedly been among the most expensive selling floors to create. Industry sources estimated the cost of the project at north of $30 million and said Saks is seeking sales surpassing $3,000 a foot next year, from the current $2,700 to $2,800. Only the main floor for cosmetics, designer handbags and fine jewelry is more productive.
"We worked enormously close with each brand to make sure the shops are distinctive for Saks," observed Ron Frasch, president and chief merchandising officer of Saks Inc. "It could have very easily felt like a mall or a floor with just a sea of shops without any distinctive personality if we didn’t handle it correctly. There are many architectural details, and more elements coming in between now and August."
Vendors on the redesigned floor include Chanel, Marni, Marc Jacobs, Armani, Sander, Gucci, Jil Sander, Louis Vuitton and separate store for the Japanese designers Yohji Yamamoto, Junya Watanabe and Issey Miyake. Still in the construction phase are the areas for Ralph Lauren, Christian Dior, Roberto Cavalli, Akris and Dolce & Gabbana. The entire floor should be done by August.
