Saks Fifth Avenue to open in Calgary: First Store in Western Canada
New York & Calgary – May 31, 2016 – Saks Fifth Avenue today announced plans to open its third Canadian location, in Calgary, Alberta. Expected to open in January 2018, the 115,000 square-foot, two-level location will be part of CF Chinook Centre, a Cadillac Fairview property. The new store will feature a modern and authoritative merchandise assortment, including women’s designer, contemporary, modern ready-to-wear, men’s, beauty, jewelry, shoes and handbags. In addition to its elevated assortment, the new location will offer a full service Fifth Avenue Club, complete with private suites and personal shopping consultants.
“Following our incredibly successful entry into Canada earlier this year, we are excited to bring Saks Fifth Avenue to Western Canada in 2018. Our strategy is to opportunistically open new stores where we have the customer, the right location and we are able to deliver a consistent Saks brand edit, focused on modern fashion. Calgary, specifically the CF Chinook Centre, fits these criteria and is a logical next step in our Canadian expansion,” commented Marc Metrick, President, Saks Fifth Avenue.
“We are thrilled to once again partner with Saks Fifth Avenue to bring their iconic brand to a Cadillac Fairview shopping centre,” said John Sullivan, President and Chief Executive Officer, Cadillac Fairview. “The addition of Saks to our Western portfolio will further enhance the premium shopping experience Canadians have come to expect from us.”
Saks Fifth Avenue two full-line stores in Canada opened in February 2016 at CF Toronto Eaton Centre and CF Sherway Gardens.
ABOUT SAKS FIFTH AVENUE
Saks Fifth Avenue, one of the world’s pre-eminent specialty retailers, is renowned for its superlative American and international designer collections, its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts, and the first-rate fashion expertise and exemplary client service of its Associates. As part of the Hudson’s Bay Company brand portfolio, Saks operates 40 full-line stores in 22 states and Canada, five international licensed stores and saks.com, the company’s online store.
ABOUT HUDSON’S BAY COMPANY
Hudson’s Bay Company is one of the fastest-growing department store retailers in the world, based on its successful formula of driving the performance of high quality stores and their all-channel offerings, unlocking the value of real estate holdings and growing through acquisitions. Founded in 1670, HBC is the oldest company in North America. HBC’s portfolio today includes ten banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with more than 460 stores and 66,000 employees around the world.
In North America, HBC’s leading banners include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, and Saks OFF 5TH, along with Find @ Lord & Taylor and Home Outfitters. In Europe, its banners include GALERIA Kaufhof, the largest department store group in Germany, Belgium’s only department store group Galeria INNO, as well as Sportarena.
HBC has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in the HBS Global Properties Joint Venture, which owns properties in the United States and Germany. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.
ABOUT CADILLAC FAIRVIEW
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. The company also invests in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico.
Valued at more than $29 billion, Cadillac Fairview owns over 38 million square feet of leasable space at 72 properties in Canada, including landmark developments, such as Toronto-Dominion Centre, CF Toronto Eaton Centre, CF Pacific Centre and CF Chinook Centre.
Cadillac Fairview has been wholly owned by the Ontario Teachers’ Pension Plan since 2000. Ontario Teachers’ is a diversified global investor and administers the pensions of more than 300,000 active and retired school teachers.
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