Dive Brief:
- Saks Fifth Avenue has introduced a 40,000-square-foot men's shopping area on the seventh floor of its flagship store in New York City, the retailer announced Friday. The space will feature more than 70 brands, including Gucci, Louis Vuitton, Dior Men and Celine.
- The area will have 19 new shop-in-shops featuring brands like Balenciaga, Bottega Veneta, Burberry, Fendi and Givenchy. The retailer said it will open an Off-White shop-in-shop in February and a Saint Laurent Paris one in March.
- Saks has also created "The Saks Man," an invite-only men's ambassador program. As part of the initiative, the retailer will enlist influential men to promote its marketing campaigns and product launches, make content for its online audience, and attend or host in-person or online events.
Dive Insight:
Saks is building out its men’s offering through a new shopping experience, expanding its assortment and integrating distinct high-end luxury shop-in-shops on the seventh floor of its flagship store in New York.
The retailer is debuting Celine Homme’s first shop-in-shop in the U.S. and Burberry's first New York City concept shop that draws inspiration from its flagship store on Sloane Street in London. It's also showcasing emerging designers and new-to-Saks brands at the store on a rotating basis, starting with Bode, Maison Margiela and Louis Vuitton, among others.
To celebrate the ambassador program launch and the menswear space debut, the retailer hosted a private tour of the space and a cocktail party with basketball player James Harden and other "The Saks Man" ambassadors.
"Our men's business has experienced significant growth over the past several years, and Saks continues to be the destination that shoppers look to for the latest in men's luxury fashion," Tracy Margolies, chief merchandising officer at Saks, said in a statement. "While we remain focused on expanding our online offering and creating an unparalleled assortment of men's fashion and accessories on Saks.com, our stores remain a crucial part of the Saks Fifth Avenue ecosystem. The new men's floor in New York reinforces the power of the in-store experience and exemplifies Saks' reputation as a fashion authority."
In 2021, HBC, Saks’ parent company, decided to separate the brick-and-mortar and e-commerce businesses for Saks, Saks Off Fifth and Hudson's Bay — a move that investors hoped would create value in years to come.
But as e-commerce companies struggle with falling demand, HBC’s digital companies have cut their workforce. A spokesperson confirmed to Retail Dive this month that Saks.com laid off 100 employees, half of whom were in tech, which represented 3.5% of its staff. Plus, The Bay, the e-commerce company affiliated with Canadian department store Hudson’s Bay, cut less than 2% of its corporate staffers, and Saks Off Fifth’s e-commerce site also let go of an undisclosed number of employees.
Earlier this month, Nordstrom announced its own ambassador program. The retailer is collaborating with store stylists across its top 20 markets in the U.S. and Canada, including New York, Chicago, Detroit and Toronto. The participating ambassadors will highlight the Nordstrom shopping experience through social media, events and other channels.
