Boris Posted September 20, 2006 Share Posted September 20, 2006 Saks Fifth Entering MexicoBy 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. Quote Link to comment Share on other sites More sharing options...
Montrose1100 Posted September 20, 2006 Share Posted September 20, 2006 Saks has been in Dubai for 4-5 years. Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 21, 2006 Share Posted September 21, 2006 Interesting they're opening in Santa Fe first. I would have thought more downtown - Polanco. Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted September 21, 2006 Share Posted September 21, 2006 Does the mean we will lose alot of the Mexican nationals that spend all that cash at the Houston Galleria? That is a huge loss for us since they won't fly up here as much. Not a good move Quote Link to comment Share on other sites More sharing options...
Subdude Posted September 21, 2006 Share Posted September 21, 2006 I doubt one store will make that much difference. That mall is nice, but has nowhere near the quality and variety of the Galleria. Quote Link to comment Share on other sites More sharing options...
dalparadise Posted September 21, 2006 Share Posted September 21, 2006 I doubt one store will make that much difference. That mall is nice, but has nowhere near the quality and variety of the Galleria.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. Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted September 21, 2006 Share Posted September 21, 2006 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. Quote Link to comment Share on other sites More sharing options...
Boris Posted September 22, 2006 Author Share Posted September 22, 2006 Does the mean we will lose alot of the Mexican nationals that spend all that cash at the Houston Galleria?The Shops at La Cantera in SA is more of a threat than Santa Fe Mall in DF. Quote Link to comment Share on other sites More sharing options...
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