Saks Fifth Avenue will be even more upscale when it comes to Canada
Like it or not, Toronto is becoming a haven for international luxury labels: Yorkdale just announced five new brands, including Bulgari and Jimmy Choo, and Agent Provocateur is set to open shop on Bloor Street sometime next month. Apparently, Toronto shoppers have money to burn, which is why incoming American department store Saks Fifth Avenue, already a pretty fancy shopping destination, plans to be even more upscale when it arrives in Canada in 2016.
According to the Globe, Richard Baker, CEO of Hudson’s Bay Co. (which acquired Saks last year), has deduced from Canadians’ penchant for pricey online-shopping purchases that shoppers in this country have an insatiable demand for luxury department-store goods. To cater to those shopping habits, he plans on stocking Canadian Saks stores with even pricier stuff than they sell in the U.S. Considering that many existing Saks locations carry top designers like Alexander Wang, Burberry and Stella McCartney, we’re not sure how much more upscale the department store can get. (That said, there are at least a few Saks outlets south of the border that could use a serious update.) According to Baker, the brand’s Canadian expansion will see “uber-luxurious stores with world-class product and designers.” This is good news for Toronto millionaires. The rest of us can continue shopping at the Bay.
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Like it or not, Toronto is becoming a haven for international luxury labels: Yorkdale just announced five new brands, including Bulgari and Jimmy Choo, and Agent Provocateur is set to open shop on Bloor Street sometime next month. Apparently, Toronto shoppers have money to burn, which is why incoming American department store Saks Fifth Avenue, already a pretty fancy shopping destination, plans to be even more upscale when it arrives in Canada in 2016.
According to the Globe, Richard Baker, CEO of Hudson's Bay Co. (which acquired Saks last year), has deduced from Canadians' penchant for pricey online-shopping purchases that shoppers in this country have an insatiable demand for luxury department-store goods. To cater to those shopping habits, he plans on stocking Canadian Saks stores with even pricier stuff than they sell in the U.S. Considering that many existing Saks locations carry top designers like Alexander Wang, Burberry and Stella McCartney, we're not sure how much more upscale the department store can get. (That said, there are at least a few Saks outlets south of the border that could use a serious update.) According to Baker, the brand's Canadian expansion will see “uber-luxurious stores with world-class product and designers.” This is good news for Toronto millionaires. The rest of us can continue shopping at the Bay. ){kind=link}
Well, the only “seriously upscale” Saks I’ve been to was in Manhattan. The others have been mostly mediocre and not much better than the Yorkdale Holts. The one I went to in Boston downright sucked.
Disappointing that The Hudson’s Bay at Yonge and Queen will be removed from it’s location to be replaced by a generic brand peddler.
Hudson’s Bay is not going away, the building is being split. 3 or 4 floors will be Saks, and the Simpsons tower will be converted to retail space as well (it was also sold to Cadillac Fairview).
If that is indeed the case, then I stand corrected.
Kick out all the Canadian retailers and businesses and bring on the American!!!
Saka is not “American” anymore, it has been bought out by Canadian retailer Hudson Bay, if that makes you feel better
Saks is not “American” anymore, it has been bought out by Canadian retailer Hudson Bay, if that makes you feel better