Saks Fifth Avenue opens a new standalone shoe store concept
Saks Fifth Avenue has been trying to reinvigorate its appeal to high-end shoppers, even as department store traffic nationwide continues to wane. The chain’s latest move in one city indicates that it could be looking to reduce its full reliance on the department store model in favor of category-based stores.
Saks Fifth Avenue has opened a standalone shoe store in Greenwich, Conn., according to Footwear News. The store, named 10022-SHOE, gets its name from the zip code of Saks’ flagship location in NYC and has been used as the name of its shoe departments other locations. The standalone location allows for a drastic expansion of the shoe selection. The chain plans to open two more standalone stores with different themes — one, a contemporary boutique; the other, a jewelry store — in the coming year.
Saks went big with the opening, as reported in a separate Footwear News article, with a charity cocktail event attended by hundreds of guests. Proceeds went to Sole Sisters, the Greenwich United Way’s women’s initiative.
Saks Fifth Avenue president Mark Metrick said in an interview with Footwear News that the success of the main Saks store in Greenwich was instrumental in making the standalone shoe store work and that moving the footwear into its own store would allow for expansion within the main building.
The interview did not specify if the chain would only open standalone shoe stores and other category-specific outlets in the vicinity of its successful department stores. But we know that Saks is also putting down roots in new markets. In February the company announced a move into the highly competitive Canadian luxury market, despite what some see as a softening economy in that country.
Saks Fifth Avenue has also been testing methods of engaging new customers in existing markets. The chain’s “Saks at your service” program deploys personal shoppers to customers’ homes or hotel rooms with a customized wardrobe.
- How Shoes Are Playing a Big Part in Saks Fifth Avenue’s Reboot – Footwear News
- Why Saks’ New Shoe Shop in Greenwich Isn’t Just Another Store – Footwear News
- Will Saks succeed in bringing Fifth Avenue to Toronto? – RetailWire
- Saks, Ralph Lauren lure customers with upscale services – RetailWire
DISCUSSION QUESTIONS: Is opening up category-specific concepts like 10022-SHOE a smart move for Saks? Should Saks consider opening standalone shoe stores and other category-specific outlets in places where there are no existing Saks Fifth Avenue department stores?