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Style Avenue to operate Saks Fifth Avenue store

Nov '08
Retailer Saks Incorporated announced it has expanded its international presence by the opening of its first licensed Saks Fifth Avenue store in Bahrain. The two-level, 57,600 square foot store is located in the Bahrain City Centre, an upscale development in Manama, Bahrain.

The Bahrain Saks Fifth Avenue store is congruent with the Saks Fifth Avenue stores in the United States in both product and service, while catering to local tastes and preferences. The unique store includes distinctive offerings from established and emerging American and international designers and presents a sought-after collection of fine designer apparel for Men and Women as well as jewelry, accessories, handbags, fragrances, cosmetics, intimate apparel, bridal, children's apparel, and select gift items.

The store will also feature Saks Fifth Avenue's world-famous 10022-SHOE salon. Saks Fifth Avenue is known for its extraordinary personalized customer service, and the Bahrain location includes numerous in-store amenities such as skin care treatment rooms, luxury fitting rooms, and the Fifth Avenue Club, its complimentary personal shopping service. The store will also offer an ongoing calendar of special events such as fashion shows and personal appearances by designers.

In 2003, the Company entered into a license agreement with Style Avenue Middle East ("SAME") to open licensed Saks Fifth Avenue stores in the United Arab Emirates, Qatar, Kuwait, and Bahrain. The Bahrain location will be the third store opened under this agreement. The first location was opened in Dubai, U.A.E. in September 2004, and a separate Saks Fifth Avenue men's store was opened in Dubai in June of this year. The Bahrain store will be operated by Style Avenue Bahrain, the sublicense of SAME and a joint venture between Kapico Group, Damas Jewellery, and The Chalhoub Group, along with esteemed Bahraini business leader Abdullah Buhindi.

Stephen I. Sadove, Chairman and Chief Executive Officer of Saks Incorporated, commented, "We are very pleased to bring Saks Fifth Avenue to Manama, Bahrain, which is a great shopping and tourist destination. We have worked closely with Style Avenue Middle East to deliver an extraordinary assortment of luxury brands and experiences to the residents of and visitors to Bahrain."

Sadove concluded, "While our principal focus remains on improving the operations of our domestic stores, the opening of select international licensed locations can broaden the reach of our brand and produce a supplemental income stream for the Company."

Saks Incorporated

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