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Saks Fifth Avenue comes to luxury zone of Polanco
22
Oct '10
Retailer Saks Incorporated announced it has expanded its presence in Mexico City by opening its second licensed Saks Fifth Avenue store. The two-level, approximate 82,500 square foot store is located in Plaza Carso, a major new mixed-use development in Mexico City's rapidly growing luxury zone of Polanco. The Plaza Carso development includes luxury residential and commercial towers, a unique cultural space accommodating two of the most important museums in Latin America, a hotel, a performing arts theatre, and an upscale shopping center.

Saks Fifth Avenue has operated a tri-level, 150,000 square foot store in the Santa Fe Shopping Center, an upscale development in Mexico City, since November 2007.

Both Mexico City Saks Fifth Avenue stores are congruent with the Saks Fifth Avenue stores in the United States in product and service, while catering to local tastes and preferences. The stores include distinctive offerings from established and emerging American and international designers and present sought-after collections of fine designer apparel for women and men as well as shoes, jewelry, accessories, handbags, fragrances and cosmetics, intimate apparel, bridal, and select gift items. Saks Fifth Avenue is known for its extraordinary personalized customer service, and the new store will offer an ongoing calendar of special events such as fashion shows and personal appearances by designers.

The Plaza Carso Saks Fifth Avenue store reflects a modern, streamlined design. Some of the features of the store include floor-to-ceiling perimeter glass panels which allow for natural light, a swirling curved staircase made of metal and stone, luxury fitting rooms, and an exclusive valet entrance.

In 2007, the Company entered into a license agreement with Operadora de Tiendas Internacionales, S. A. de C. V. and Prestadora de Servicios OTI, S.A. de C.V., wholly owned affiliates of Grupo Sanborns, S. A. de C. V. ("Grupo Sanborns") to locate and develop appropriate sites for potential Saks Fifth Avenue stores in Mexico. Grupo Sanborns owns and operates both Mexico City stores under the license agreement with Saks Fifth Avenue.

Stephen I. Sadove, Chairman and Chief Executive Officer of Saks Incorporated, commented, "We are so excited to bring a second Saks Fifth Avenue store to Mexico City, especially to the new Plaza Carso center. Since opening our first store in Mexico City in 2007, Grupo Sanborns has been a great partner with Saks to deliver a differentiated, world-class selection of luxury brands and services to the residents of Mexico City. This second location will solidify Saks Fifth Avenue's presence there."

Carlos Hajj Aboumrad, CEO of Operadora de Tiendas Internacionales, commented, "We are pleased to open our second Saks Fifth Avenue Licensed store in Mexico City at Plaza Carso. We are committed to growing the Saks Fifth Avenue brand in Mexico and with this new store, we will build on the strength of our first Saks Fifth Avenue store which opened in Santa Fe, Mexico City in 2007. We look forward to offering Saks Fifth Avenue customers in Polanco the best selection of luxury fashion merchandise and superior service."

Saks Incorporated

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