Saks Fifth Avenue (TSE:HBC) plans to open a new concept store in Greenwich, Connecticut, which will feature jewelry and contemporary women's ready-to-wear. The 21,000 sq. ft. space, located at 200 Greenwich Ave., will be the second concept launched in the city this year.
Back in July, Saks announced the opening of a standalone 10022-SHOE store. The brand also owns a traditional Saks Fifth Avenue in downtown Greenwich.
"Opening a third Saks Fifth Avenue store will cement our position in this important market," said Marc Metrick, president of Saks Fifth Avenue. "I'm so excited to even further expand our offerings for the Greenwich customer."
With the new location, Saks will expand the space dedicated to its successful women's designer ready-to-wear assortment. The existing store will see changes to the upper-level layout, increasing the space available for vendor shops. A private fine jewelry viewing room will also be added to the space.
The existing Saks Fifth Avenue was first opened in Greenwich in 1997. The department store chain is owned by parent company Hudson's Bay Company, which acquired Saks in 2013 for $2.9 billion.
-See this Saks Fifth Avenue press release
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