Saks Fifth Avenue stores, including the New York City flagship, are getting a makeover that will bring theater to luxury shopping, says Marc Metrick, the chain's president.
“I believe luxury is theater,” Metrick told the Associated Press. “Friends of mine who are in banking or are doctors always say to me, 'Why would I want to buy something in your store, when I can buy it online?' And I say to them, 'Why don't you just stream Hamilton on Netflix?' ”
'I believe luxury is theater': Saks President Marc Metrick
The company is finishing up a $250 million renovation of its New York City flagship store as rivals Neiman Marcus and Nordstrom prepare to enter the city. The revamp includes a new restaurant and a ground-floor handbag showroom, plus the addition of several beauty-treatment rooms. Meanwhile, renovations at the 40 other Saks stores feature warmer lighting and lower sight lines, according to the AP.
Lighting and sight lines are being improved at Saks' 40 stores
For the quarter that ended Nov. 3, Saks Fifth Avenue reported a 7.3 percent increase in sales at stores open at least a year.