American fashion store chain Saks OFF 5TH did not miss its European debut: hundreds of customers waited in line for the opening of its store in Düsseldorf. A first store in the Netherlands will follow later this summer.
Luxury clothing at low prices
Saks OFF 5TH sells luxury clothing at reasonable prices, but in exchange fashion-conscious consumers have to wait several months, until the arrival of the next season or even the next year, for the prices to drop. North American consumers are used to the formula, but it has just arrived in Europe. Its very first European store opened its doors in the Carsch-Haus shopping center in Düsseldorf. Several actors from the Sex and the City sitcom turned up to help promote the store opening.
In the next three to five years, owner Hudson’s Bay wants to open about fourty Saks OFF 5TH stores in Germany, each spanning at least 3,000 sqm. The next few stores will open their doors soon: by the end of July, additional stores will open in Frankfurt, Heidelberg, Stuttgart and Wiesbaden.
The Netherlands to follow soon
The Dutch market will also welcome Saks OFF 5TH stores soon: the very first will open in Rotterdam before the end of August and Amsterdam should get its own store before Christmas.
It is no surprise Germany received the first European store, because Canadian Hudson’s Bay also owns Galeria Kaufhof. The Canadians are also on an expansion drive in the Netherlands.