Saks Fifth Avenue is opening its latest Off 5th at Tower57, located at 125 East 57th Street, in March 2016. The new 47,333-square-foot off-price store will be the first Saks Off 5th to open in New York City.
“Saks Off 5th delivers an exciting ‘thrill-of-the-hunt’ environment to a Millennial shopper demographic. The move into New York City marks a significant milestone for our brand and represents an exciting opportunity for us to bring the distinct Off 5th experience to the New York consumer,” stated Jonathan Greller, president of outlets, Hudson’s Bay Company.
The new store will feature a lobby entrance at street level, which will access two lower level floors. Tower57 is a 32-story office tower best known for its curved facade and entranceway.
The opening in Manhattan is part of Off 5th’s plans to open in high density/high traffic locations, and marks the second announced New York City-location for the banner. The company previously announced it will open an Off 5th at One Liberty Plaza in downtown Manhattan in 2017.
“HBC has made huge strides on our strategy to grow our off-price business in the U.S., and has aggressive growth planned moving forward, including expansion beyond the United States. We have seen exponential demand as we continue to open new stores, which positions us well for continued growth moving forward,” added Greller.