Saks Fifth Avenue
An American luxury department-store brand specializing in designer fashion, accessories, beauty, jewelry, and premium lifestyle merchandise.
Last updated October 26, 2026
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Overview
Saks Fifth Avenue is an American luxury department-store brand with roots in a Washington, D.C., clothing business founded by brothers Andrew and Isadore Saks in 1867. The original A. Saks & Co. sold men's clothing and developed a reputation for fixed pricing, refunds on returned merchandise, and prominent newspaper advertising. During the late nineteenth and early twentieth centuries, the business expanded beyond Washington into several American cities. Its New York presence began with a Herald Square store in 1902, establishing an important platform for the brand in the country's largest fashion market. The modern Saks identity emerged through the company's combination with Gimbel Brothers in 1923 and the opening of the Saks Fifth Avenue flagship in Manhattan in 1924. The store, designed by Starrett & van Vleck and positioned opposite the developing Rockefeller Center area near St. Patrick's Cathedral, gave the chain its enduring name and luxury positioning. Under Gimbels ownership, Saks expanded through urban flagships, resort locations, university-oriented shops, and eventually suburban shopping centers. By the late 1930s it had stores in New York and Chicago alongside a network of seasonal resort branches; further growth added locations such as Beverly Hills, Detroit, Philadelphia, Pittsburgh, San Francisco, Boston, New Orleans, and Minneapolis. Ownership changed several times in the late twentieth century. Gimbels and Saks were acquired by Brown & Williamson in 1973 and transferred to its BATUS subsidiary in 1980. Saks was sold to Investcorp in 1990, the same year that the company created Saks Off 5th as an outlet and off-price format. Proffitt's acquired Saks Holdings in 1998 and changed its own name to Saks, Inc. Hudson's Bay Company acquired Saks, Inc. in 2013 for $2.9 billion, adding the luxury chain to a portfolio that also included department-store operations such as Hudson's Bay and Lord & Taylor. In the twenty-first century Saks combined physical luxury retail with a growing digital business. The Fifth Avenue flagship underwent a major restoration announced in 2015, while the brand expanded or repositioned stores in several American markets. A 2021 Barneys at Saks concept brought emerging designers and selected men's merchandise into Saks locations. In the same year, Hudson's Bay separated Saks's ecommerce operation from the store fleet: the online business, commonly branded Saks, became a separately operated entity with investment from Insight Partners, while the physical stores remained under HBC ownership at that time. The brand also adjusted its merchandising policies. In 2021 it announced the closure of its fur salons and a later end to sales of fur from wild animals or fur-farmed animals. Internationally, Saks operated in Canada from 2016 to 2025, in Mexico through a franchise arrangement from 2007 to 2023, and in the Middle East through 2025. A franchise agreement with Reliance Industries was announced in 2025 for future Indian operations. The chain's international presence was subsequently described as including one branch in Almaty, Kazakhstan. In 2024 Saks announced and completed the acquisition of Neiman Marcus through the newly formed Saks Global holding company. Amazon invested $475 million in the transaction. The merger placed Saks Fifth Avenue alongside Neiman Marcus and Bergdorf Goodman within the same luxury-retail group. Saks Global later entered Chapter 11 bankruptcy protection in January 2026, citing heavy debt associated with the acquisition and changes in luxury-shopping demand. The restructuring included store closures and leadership changes, including Marc Metrick's resignation and Richard Baker's assumption of the chief executive role in addition to executive chairman. The brand's present identity therefore combines a long-established luxury department-store network, a separate digital commerce operation, and a broader Saks Global corporate structure undergoing financial reorganizat…
History
Saks Fifth Avenue began as A. Saks & Co., founded by Andrew and Isadore Saks in Washington, D.C., in 1867. The business sold men's clothing and emphasized one-price selling, merchandise refunds, and assertive newspaper advertising. By the 1890s it had stores in Washington, Norfolk, Richmond, New York, and Indianapolis. A New York store opened in Herald Square in 1902. After Andrew Saks died in 1912, Horace Saks took a leading role in the business. In 1923 Saks merged with Gimbel Brothers while retaining a degree of operational autonomy. The defining Saks Fifth Avenue store opened in Manhattan in 1924 in a building designed by Starrett & van Vleck. The Fifth Avenue flagship established the name and luxury image that later became the basis for a national chain. Following Horace Saks's death in 1926, Adam Gimbel led the business through expansion. Saks added resort branches in Palm Beach, Atlantic City, Miami Beach, Southampton, Newport, Sun Valley, Westbury, and Greenwich, and opened a full-line Chicago flagship in 1929. The chain broadened its footprint after the Second World War. It operated specialized Navy and Army shops during the war and later developed university-oriented stores. Urban locations were added in Beverly Hills and Detroit by 1940, followed by stores in Pittsburgh, Philadelphia, San Francisco, and other major markets. Its first department store in a shopping mall opened in 1954 at Sunrise Center in Fort Lauderdale. Through the following decades Saks combined downtown flagships, suburban stores, resort locations, and mall-based operations. Corporate control changed in 1973 when Brown & Williamson acquired Gimbels, including Saks, and later transferred the chain to BATUS. BATUS sold Saks to Investcorp in 1990 for $1.5 billion. Investcorp also launched Saks Off 5th that year as a clearance format, which developed into a separate off-price chain. Proffitt's acquired Saks Holdings in 1998 and renamed itself Saks, Inc. Saks expanded in Texas, Florida, and California during the 1990s and used former I. Magnin and Marshall Field's sites to accelerate growth. The company closed a number of underperforming stores in the early 2000s and faced pressure from Neiman Marcus, Nordstrom, and Bloomingdale's. The 2007–2009 recession led to heavier discounting, which management later worked to reverse. In 2013 Hudson's Bay Company bought Saks, Inc. for $2.9 billion. HBC subsequently developed Canadian Saks stores and supported international expansion, while Saks continued to invest in its Fifth Avenue flagship and other major locations. The brand's recent history has centered on digital transformation, luxury merchandising, and corporate restructuring. In 2021 Saks created a Barneys at Saks concept and separated its ecommerce business from the physical store fleet. Saks also announced a phaseout of fur salons and fur products covered by its policy. In 2024 Saks Global acquired Neiman Marcus, bringing Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman into one holding-company structure. Saks Global filed for Chapter 11 in January 2026, after which the business announced leadership changes and a store-reduction plan. The chain remained active, but its retail footprint and ownership structure were subject to restructuring.
- 2026
Saks Global enters Chapter 11
[1]The parent company files for bankruptcy protection and begins a restructuring involving store closures and leadership changes.
- 2024
Saks Global is formed
[1]Saks Fifth Avenue becomes part of Saks Global after the Neiman Marcus acquisition is completed.
- 2021
Digital separation and Barneys at Saks
[1]Saks launches the Barneys at Saks concept and separates its ecommerce operation from its store fleet.
- 2013
Hudson's Bay Company acquisition
[1]Hudson's Bay Company acquires Saks, Inc.
- 1998
Proffitt's acquires Saks Holdings
[1]Proffitt's purchases Saks Holdings and adopts the Saks, Inc. name.
- 1990
Investcorp acquisition and Saks Off 5th launch
[1]Investcorp acquires Saks and establishes the Saks Off 5th clearance format.
- 1954
First mall department store opens
[1]Saks opens its first department store in a shopping mall at Sunrise Center in Fort Lauderdale.
- 1924
Fifth Avenue flagship opens
[1]The Manhattan flagship that gives the chain its enduring name opens near St. Patrick's Cathedral.
- 1923
Saks merges with Gimbel Brothers
[1]Saks becomes an autonomous subsidiary within the Gimbel organization.
- 1902
Herald Square store opens
[1]Saks expands its New York presence with a store in Herald Square.
Products and positioning
Luxury department store offering designer fashion, premium accessories, beauty, jewelry, and curated lifestyle merchandise.
Luxury apparel · 1924
Saks Fifth Avenue designer fashion
The core assortment includes men's and women's designer clothing across seasonal ready-to-wear, tailoring, occasion dressing, knitwear, and contemporary luxury categories. Saks differentiates the assortment through designer-brand curation, premium service, and flagship-store presentation.
Accessories
Luxury accessories
Saks sells luxury handbags, shoes, small leather goods, scarves, belts, and other accessories from established designer and luxury labels. Accessories are a major part of its store and ecommerce proposition and are presented as both fashion merchandise and giftable luxury goods.
Jewelry
Fine jewelry and watches
The brand's premium assortment includes fine jewelry, luxury watches, bridal-related merchandise, and precious-stone products. These categories reinforce Saks's role as a high-end department store rather than a fashion-only retailer.
Beauty
Beauty and cosmetics
Saks offers prestige skincare, makeup, fragrance, haircare, and other beauty products. Beauty counters and online discovery tools extend the brand's luxury positioning into a frequently replenished category.
Home furnishings
Home and lifestyle
Selected Saks locations and digital channels carry home furnishings, decor, tabletop, gifts, and lifestyle products. The category broadens the brand's relationship with affluent customers beyond apparel and accessories.
Off-price retail · 1990
Saks Off 5th
Saks Off 5th began in 1990 as a clearance-store extension of Saks Fifth Avenue and developed into an off-price chain. It has operated as a related but distinct retail format focused on discounted designer and premium merchandise.
Controversies
2020
Nevada OSHA penalizes three Fashion Show mall stores
Nevada OSHA issued citation and penalty notices to Saks Fifth Avenue #645, Shiekh Shoes LLC, and Forever 21 over observed noncompliance with workplace health and safety requirements. The three stores were penalized a total of $8,501.
Marketing campaigns
- 2021Barneys at Saks
United States
Saks introduced a curated concept intended to preserve Barneys New York's emphasis on discovering emerging designers, first inside the New York flagship and then as a standalone Greenwich location.
Outcome. The concept expanded Saks's designer-discovery proposition and added men's clothing and furnishings in Greenwich.
Brand decisions
2026
Restructure under Chapter 11StrategyBackground
Saks Global cited acquisition-related debt and a rapid shift in luxury-consumer behavior amid price inflation.
Action taken
The parent company filed for Chapter 11 protection and pursued financing and a smaller store footprint.
Aftermath
Multiple Saks locations were slated for closure, and Richard Baker assumed the chief executive role after Marc Metrick's resignation.
2024
Acquire Neiman Marcus through Saks GlobalM&ABackground
Saks pursued greater scale in luxury retail and sought to combine complementary department-store brands.
Action taken
Saks Global completed the acquisition of Neiman Marcus, with Amazon providing investment capital.
Aftermath
Saks Fifth Avenue became a sister brand to Neiman Marcus and Bergdorf Goodman within Saks Global.
Reported transaction value. $2.65 billion (Announced 2024; completed December 2024)
2021
Separate ecommerce from physical storesStrategyBackground
Saks sought to accelerate digital growth while maintaining a separate operating structure for its physical retail fleet.
Action taken
Hudson's Bay and Insight Partners established the ecommerce business as a standalone entity commonly known as Saks, while the stores remained separately held.
Aftermath
The transaction created distinct digital and store businesses within the wider Saks structure.
Minority equity investment. $500 million (2021)
2021
Phase out fur salons and covered fur productsStrategyBackground
Saks responded to changing luxury-fashion expectations and animal-welfare concerns.
Action taken
The company announced the closure of its fur salons and a later prohibition on products made from specified wild-animal or fur-farmed fur.
Aftermath
The policy changed the brand's luxury-merchandising standards in an environmentally and ethically sensitive category.
2015
Restore the Fifth Avenue flagshipOtherBackground
The New York flagship remained the symbolic center of the brand and a major sales contributor, but required substantial modernization.
Action taken
Saks announced a three-year restoration program with a reported budget of $250 million.
Aftermath
The investment reinforced the flagship's role as the brand's principal physical and marketing asset.
Restoration budget. $250 million (Announced 2015; planned three-year program)
Recent events
Salesforce and Saks Fifth Avenue expand collaboration[3]
Reported:
Salesforce announced an expanded collaboration with Saks Fifth Avenue to use Salesforce technology to enhance Saks' luxury shopping experience.
Saks Fifth Avenue launches holiday campaign supporting Girls Opportunity Alliance[4]
Reported:
Saks Fifth Avenue launched a holiday campaign supporting the Obama Foundation’s Girls Opportunity Alliance, featuring a New York flagship window unveiling and light show, a merchandise collection, a donation, and other activities.
Blo Blow Dry Bar and Saks Fifth Avenue partner on American Dream pop-up[5]
Reported:
Blo Blow Dry Bar partnered with Saks Fifth Avenue on a five-week pop-up Blo Blow Dry Bar location in the American Dream Mall in East Rutherford, New Jersey, operating through October 25, 2021.
Saks completes $465 million in financing[6]
Reported:
Saks closed a $350 million asset-based revolving credit facility and a $115 million senior secured term loan.
Saks unveils Spring 2021 campaign[7]
Reported:
Saks Fifth Avenue unveiled its Spring 2021 campaign, “Here for the Future,” starring Tiffany Haddish and Maluma.
Saks Fifth Avenue opens Back Bay menswear store[8]
Reported:
Saks Fifth Avenue opened a menswear store in the former Barneys space at Copley Place mall in Boston.
Nevada OSHA penalizes three Fashion Show mall stores[2]
Reported:
Nevada OSHA issued citation and penalty notices to Saks Fifth Avenue #645, Shiekh Shoes LLC, and Forever 21 over observed noncompliance with workplace health and safety requirements. The three stores were penalized a total of $8,501.
- Unconfirmed
Regency Centers sues Saks and Gap over unpaid rent[9]
Reported:
Regency Centers sued Saks Fifth Avenue and Gap Inc. over alleged unpaid rent and upkeep costs for their Saks Off 5th and Old Navy stores at Buckhead Station; the article reports Regency's claims, not a court determination.
Macy’s temporarily shuts down stores[10]
Reported:
Macy’s parent company decided to cease operations at Macy’s stores and other stores under its umbrella until the COVID-19 outbreak was under control.
Saks Fifth Avenue announces temporary store closures in the U.S. and Canada[11]
Reported:
Saks Fifth Avenue announced that it would temporarily close all stores across the U.S. and Canada effective March 18, 2020, with closures expected to last two weeks, while continuing to serve customers online and through its mobile app.
Sources13 sources
- 1Saks Fifth Avenueen.wikipedia.org
- 2Nevada OSHA penalizes three Fashion Show mall storesktnv.com
- 3Salesforce与Saks Fifth Avenue扩大合作finanznachrichten.de
- 4Saks Fifth Avenue推出支持Girls Opportunity Alliance的节日宣传活动prnewswire.com
- 5Blo Blow Dry Bar与Saks Fifth Avenue合作推出American Dream快闪店prnewswire.com
- 6Saks完成4.65亿美元融资prnewswire.com
- 7Saks发布2021年春季宣传活动complex.com
- 8Saks Fifth Avenue在Back Bay开设男装店bostonglobe.com
- 9Regency Centers因欠租起诉Saks与Gapbisnow.com
- 10梅西百货暂时关闭门店retro1025.com
- 11Saks Fifth Avenue宣布暂时关闭美国和加拿大门店financialpost.com
- 12SAKS DEBUTS DIGITAL-FIRST SPRING CAMPAIGN STARRING AWARD-WINNING ACTRESS, LUPITA NYONG'Oprnewswire.com
- 13Saks Fifth Avenue Unveils Here for the Future Spring Campaign Starring Tiffany Haddish and Malumaprnewswire.com
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