Saks Announces New Stores
New York Saks unveiled a plan on Tuesday to open three Saks Fifth Avenue OFF 5TH stores in the coming months. Each of the locations is being patterned after the company’s OFF 5TH prototype that opened in April in the Prime Outlets International center in Orlando.
The first store will open in October in The Arches at Deer Park in Long Island, N.Y. and will have a 30,000-sq.-ft. space. The two remaining OFF 5TH stores, each 28,000 sq. ft., are slated for November openings and will be located in the Prime Outlets in St. Augustine, Fla. and the Rio Grande Valley Premium Outlets in Mercedes, Texas.
In a separate announcement on Tuesday, Saks said it will relocate its Austin, Texas, Saks Fifth Avenue store from the Arboretum Market to a new retail development, The Domain, in north Austin. The existing 50,000-sq.-ft. store format will be expanded to an 80,000-sq.-ft. “showcase” store that will enable Saks to increase its merchandise and service offerings in the Austin market.
The new Saks Fifth Avenue is projected to open in fall 2011. The Domain, which is being developed by Endeavor Real Estate Group of Austin, has also announced that Nordstrom and Whole Foods will be anchor tenants.