What: Saks Fifth Avenue has relocated its women's store in Beverly Hills to the former Barneys New York location, introducing a modern luxury shopping environment with exclusive services and designer boutiques.

Why it is important: This move signifies Saks Fifth Avenue's commitment to providing an unparalleled luxury shopping experience in Beverly Hills, a key market for the retailer. By enhancing its store with personalized styling services, exclusive designer boutiques, and a focus on VIP clientele, Saks aims to set a new standard for luxury retail and strengthen its position in the competitive luxury market.

Saks Fifth Avenue has inaugurated its new Beverly Hills flagship store at the former Barneys New York site, featuring 15 personal styling suites, six shopping levels, and exclusive boutiques for high-end brands like Gucci, Dior, Louis Vuitton, and Chanel. The store, which has been a part of Beverly Hills since 1938, aims to offer a "modern view of what a luxury multibrand experience should be," according to Saks CEO Marc Metrick. The relocation allows Saks to modernize its flagship while planning to transform the old store into a mixed-use development. The new store emphasizes designer ready-to-wear, shoes, and jewelry, catering to VIPs with personalized styling services. The Fifth Avenue Club, the store's highlight, offers private styling suites and an outdoor terrace with stunning views. The store's design, developed in collaboration with Arcadis, features natural light, modern aesthetics, and a $52 million investment to create a distinctive shopping destination. This move comes as Saks' parent company, Hudson’s Bay Co., seeks to monetize real estate to support retail operations, with plans to redevelop the old Saks property into a mixed-use project featuring offices, retail space, and residential units.

Saks Fifth Avenue elevates luxury retail with new Beverly Hills flagship