Saks Fifth Avenue is an upscale American department store owned and operated by Saks
Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes
in the upscale department store market with Neiman Marcus, Bergdorf Goodman
and Barneys New York. Saks is headquartered in New York City.
Saks
Fifth Avenue Enterprises (SFAE) consists of 54 Saks Fifth Avenue stores, 48 Saks
Off 5th stores, 62 Club Libby Lu specialty stores, and saks.com.
Saks
Fifth Avenue is the successor of a business founded by Andrew Saks in 1867
and incorporated in New York in 1902 as Saks & Company. Andrew died in 1912 and
in 1923 Saks & Co. merged with Gimbel Brothers, Inc., operating as a separate
autonomous subsidiary. On September 15, 1924, Horace Saks and Bernard Gimbel opened
Saks Fifth Avenue in New York City. |
