Editing Saks Fifth Avenue (section)

=== Under Hudson's Bay Company (2013–2024) ===
On July 29, 2013, [[Canada]]-based [[Hudson's Bay Company]] (HBC), the oldest commercial corporation in North America and owner of the competing chain [[Lord & Taylor]], announced it would acquire Saks Fifth Avenue's parent company for [[United States dollar|US$]]2.9 billion.<ref name="torstar-hbcsaks">{{cite news| title=Hudson's Bay rolls the dice on Saks| url=https://www.thestar.com/business/2013/07/29/hudsons_bay_to_buy_saks_for_29_billion.html| last=Lewis| first=Michael| newspaper=[[Toronto Star]]| access-date=May 21, 2014| date=July 29, 2013}}</ref>

In 2015 Saks began a $250 million, three-year restoration of its [[Fifth Avenue]] flagship store.<ref>{{cite news| url=https://www.nytimes.com/2015/11/15/business/saks-is-shaking-off-retail-gloom-with-a-fifth-avenue-face-lift.html| title=Saks Is Shaking Off Retail Gloom With a Fifth Avenue Face-Lift| first=Hiroko| last=Tabuchi| author-link=Hiroko Tabuchi| date=November 14, 2015| newspaper=The New York Times| access-date=January 31, 2018}}</ref> In October 2015, Saks announced a new location in [[Greenwich, Connecticut]].<ref>{{cite press release| url=http://www.businesswire.com/news/home/20151008005752/en/Saks-Avenue-Signs-Lease-Location-Greenwich-Connecticut| title=Saks Fifth Avenue Signs Lease for a Location in Greenwich, Connecticut| publisher=Hudson's Bay Company| date=October 18, 2015| access-date=2019-12-20| via=Business Wire}}</ref><ref>{{cite news| url=http://www.greenwichtime.com/business/article/Saks-signs-lease-for-third-Greenwich-property-6551701.php,| title=Saks signs lease for third Greenwich property| newspaper=[[Greenwich Time (newspaper)|Greenwich Time]]| first=Kaitlyn| last=Krasselt| date=October 5, 2015| access-date=2019-12-20}}</ref> In autumn 2015, Saks announced it would replace its existing store at the [[The Galleria (Houston)|Houston Galleria]] with a new store.<ref>{{cite press release| title=Saks Fifth Avenue To Relocate Its Flagship Store At The Houston Galleria| url=http://www.prnewswire.com/news-releases/saks-fifth-avenue-to-relocate-its-flagship-store-at-the-houston-galleria-222511171.html| publisher=[[Simon Property Group]]| via=[[PR Newswire]]| access-date=2019-12-20}}</ref><ref>{{cite journal| title=Saks acts as cornerstone of Houston Galleria's $250M transformation| journal=Luxury Daily| date=February 26, 2015| url = http://www.luxurydaily.com/saks-acts-as-cornerstone-of-houston-gallerias-250m-transformation/| access-date=2019-12-20}}</ref><ref name=lmopen>{{cite web| url = https://www.businessoffashion.com/articles/intelligence/saks-fifth-avenue-brookfield-place| title = Lauren Sherman, "Inside the Reinvention of Saks Fifth Avenue", ''BoF'', September 6, 2016| date = September 6, 2016}}</ref><ref name=lmclose>{{cite web| url = https://chainstoreage.com/store-spaces/saks-fifth-avenue-reportedly-to-exit-manhattan-center| title = Marianne Wilson, "Saks Fifth Avenue to exit Brookfield Center", ''Chain Store Age'', 12/17/2018}}</ref>

On January 15, 2021, Saks Fifth Avenue unveiled a {{convert|54000|sqft|sqm|adj=on}} space on the fifth floor of its New York flagship, branded ''[[Barneys New York|Barneys]] at Saks''. The collaboration is aimed at continuing [[Barneys New York]] tradition of unearthing and promoting emerging designers.<ref>{{cite web | url=https://www.harpersbazaar.com/fashion/designers/a35218605/barney-at-saks-launch/ | title=Saks Fifth Avenue Breathes New Life into Barneys New York | date=January 15, 2021 }}</ref> On January 25, Saks launched the first standalone Barneys at Saks store in a {{convert|14000|sqft|sqm|adj=on}} location in [[Greenwich, Connecticut]]. This marked the first time Saks had offered men's clothing and furnishings in that market.<ref>{{cite web | url=https://www.retailtouchpoints.com/features/news-briefs/barneys-is-back-via-saks-fifth-avenue-in-new-york-and-connecticut | title=Barneys is Back, via Saks Fifth Avenue, in New York and Connecticut | date=January 20, 2021 }}</ref> In March, [[Hudson's Bay Company|HBC]] and growth capital investor, [[Insight Partners]], established Saks Fifth Avenue's ecommerce business as a stand-alone entity, known as "Saks". Insight Partners made a $500 million minority equity investment in Saks. The retailer's 39-store fleet operates separately as an entity referred to as "SFA," which remains wholly owned by HBC. At the time of the separation, HBC named Marc Metrick, CEO of Saks, the ecommerce business. Metrick was previously president of Saks Fifth Avenue since 2015.<ref name="Moin"/><ref>{{cite news |last1=Moin |first1=David |title=After a Run of Quarterly Gains, Saks Tempers Its 2023 Outlook |url=https://wwd.com/business-news/retail/saks-com-ceo-marc-metrick-reports-on-fourth-quarter-and-2023-outlook-1235542672/ |publisher=WWD |date=23 February 2023}}</ref>

In April, Saks announced that it would close all 27 of its fur salons, among which New York, Boston, Philadelphia and Beverly Hills, by the end of January 2022. The company also said that by January 2023, it would stop sales of products made from fur of wild animals or from animals raised for their fur.<ref>Palash Ghosh, "[https://www.forbes.com/sites/palashghosh/2021/04/07/saks-fifth-avenue-to-stop-selling-fur-products-by-2023/?sh=71ca3a8e3d98 Saks Fifth Avenue To Stop Selling Fur Products By 2023]," Forbes.com, 7 April 2021.</ref> In August, the company announced a collaboration with [[WeWork]] to convert some Saks spaces to co-working locations.<ref>{{Cite web |last=Modi |first=Priyanka |date=2021-08-10 |title=WeWork Taking Over Some Saks Fifth Avenue Spaces |url=https://therealdeal.com/2021/08/10/wework-taking-space-in-some-saks-stores/ |access-date=2022-10-30 |website=The Real Deal New York |language=en-US}}</ref> In June 2022, Saks announced that it would convert the original 1938 store building in [[Beverly Hills, California|Beverly Hills]], 9600 [[Wilshire Boulevard|Wilshire]], into offices and apartments. Saks Beverly Hills continues to operate from the former [[I. Magnin]] and [[Barneys]] buildings, which had previously been incorporated into the store complex.<ref>{{Cite web|last=Vincent|first=Roger|title=Beverly Hills' historic Saks Fifth Avenue complex set for development into offices and apartments|url=https://www.latimes.com/business/story/2022-06-23/beverly-hills-historic-saks-fifth-avenue-development-coming-with-offices-apartments|date=23 June 2022|website=[[Los Angeles Times]]}}</ref>