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Saks Fifth Entering Mexico

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Saks Fifth Entering Mexico

By Ian Ritter

Last updated: September 19, 2006 11:24am

MEXICO CITY-Saks Inc. will open its first Saks Fifth Avenue store in this country next year. The three-level, 150,000-sf unit will open in the Santa Fe Shopping Center in September 2007.

The move is part of an international push by the luxury retailer. Saks Fifth has recently opened stores in Dubai and Riyadh, Saudi Arabia, and the company is planning to open a store in Shanghai.

Saks is partnering with Operadora de Tiendas Internacionales S.A. de C.V., an arm of the Carlos Slim Helu-owned pharmacy chain Grupo Sanborns. After opening the store, Saks Inc.

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Yes, it will make a difference. S5A is a major draw for wealthy Mexicans to The Galleria. If they don't have to come here, they won't. Not all, but some.

A plane ticket is a huge savings for them, and more cash to spend at the mexican store.

We will still have the other store here for them to shop at, but I still worry that where there is a Saks, a Bloomingdales and Neimans is not too far behind.

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