What: Saks Fifth Avenue has unveiled "The Studio" on the 10th floor of its Manhattan flagship store as a new format aimed at attracting talent.

Why it is important: The goal is to attract talent that prefers working in the Saks ecosystem but may not be interested in traditional retail settings.

The Studio offers a space for personal shoppers, digital sellers, independent stylists, and influencers to promote and sell merchandise from Saks. The initiative is a response to the increasingly remote and independent work styles of style advisors who generate business outside traditional selling floors. The Studio provides access to Saks merchandise, along with resources such as filming sets, a photo studio, and workstations for content creation.

Saks sees this as a long-term commitment and an innovative approach to driving productivity and attracting talent. The move follows the shelving of a previous plan to open a casino on floors nine to eleven of the flagship store.

A new format for the Saks Fifth Avenue flagship