Saks Fifth Avenue is opening a new store concept dedicated entirely to footwear.
The first stand-alone Saks Fifth Avenue shoe store will be replicated after the 10022-Shoe department, which is present in the retailer's Manhattan flagship and 19 other locations, Women's Wear Daily reported. The store is slated to open in fall 2016 in Greenwich, Connecticut.
The site will be around the block from an existing Saks women's-only store on Greenwich Avenue and will include 11,000 sq. ft. of selling space and 3,000 sq. ft. of storage. The concept will only offer women's shoes and the existing Greenwich store will no longer carry shoes.
"This gives us the opportunity from a space standpoint to make the assortment a lot more powerful," Marc Metrick, the president of Saks Fifth Avenue told Women's Wear Daily. "This is not just a shoe story. Greenwich is a very strong market for Saks. This is going to unlock an underexploited volume opportunity in ready-to-wear."
With the shoes moved to the new location, the existing Saks store will have an additional 4,000 sq. ft. for ready-to-wear products.
The footwear store does not have a name yet but will be open and interactive, following the 10022-Shoe concept that opened in 2007 in Manhattan. The existing concept includes technology-driven service, a VIP room for private shopping, and a shoe-repair service.
In order to keep pace with the times, last year Saks introduced free shipping on all online orders, regardless of purchase total. Online sales are now a large and growing portion of overall sales for Saks' parent company, Hudson's Bay Co. HBC acquired Saks in 2013 for $2.9 billion.
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