Saks Fifth Avenue Off 5th will officially open its initial retail location in New York City on March 3, featuring the first Gilt in-store shop. The pairing of these two brands in a physical space marks Gilt’s entry into brick-and-mortar retail as part of an all-channel shopping experience, the retailer noted.
Hudson’s Bay Company, parent company of Saks, recently completed its acquisition of Gilt Groupe Holdings, Inc. for $250 million in cash.
The two-level Saks Off 5th store will occupy approximately 47,000 square feet in Tower57 in midtown Manhattan at 57th Street and Lexington Avenue.
The Gilt in-store shop will aim to replicate the exclusive access experience of the online shopping destination. Customers will have the opportunity to shop Gilt’s daily style show of curated products, including home goods, featuring top trends and new offerings from a weekly in-store flash sale. A video wall will showcase a calendar of upcoming sales and “Shop the Look” editorial content. Accommodations include comfortable seating and digital services where customers may explore the entire Gilt site. Gilt by appointment will be introduced in the coming months, offering a stylist and personal shopping services.
“The opening of our first location in Manhattan is truly a milestone and we look forward to offering shoppers top fashion brands at the great value Saks Off 5th is known for,” said Jonathan Greller, president of off-price, Hudson’s Bay Company. “In combination with the Gilt in-store shop, we believe Saks Off 5th on 57th Street will be the destination for fashion conscious Millennials seeking the ‘thrill of the hunt’ shopping experience.”
A second Saks Off 5th store is expected to open in downtown Manhattan at One Liberty Plaza in fall 2017.