SAKS FIFTH AVENUE, LORD & TAYLOR, AND SAKS FIFTH AVENUE OFF 5TH TO OPEN IN NEW RETAIL AND ENTERTAINMENT COMPLEX
TORONTO & NEW YORK, 2015-9-15 — /EPR Retail News/ — Hudson’s Bay Company (HBC) and Triple Five are pleased to announce the addition of three iconic retail banners to American Dream New Jersey: Saks Fifth Avenue, Lord & Taylor, and Saks Fifth Avenue OFF 5TH. Opening in late summer 2017, the mega complex will house a mix of retail, restaurants and entertainment, and welcome 40 million visitors annually. The HBC stores are all slated to open in late summer 2017.
“American Dream is one of the most unique projects in the world – it is elevating the shopping center format to combine retail, dining, lifestyle and entertainment to create a total experiential destination. We believe that shopping is an entertainment experience, and the American Dream concept exemplifies that philosophy fully,” said Richard Baker, Governor and Executive Chairman, Hudson’s Bay Company.
“The American Dream concept presents an exciting opportunity for the HBC portfolio of brands as we continue to drive forward our growth strategy in North America. Never have we housed all three of our U.S. banners in one location. Each one – Saks, Lord & Taylor and Saks OFF 5TH – caters to a distinct consumer segment, and American Dream positions us to service every consumer, through luxury, better department store, and off-price formats,” stated Jerry Storch, CEO,Hudson’s Bay Company.
With such a large and diverse customer demographic, American Dream will be the perfect platform for HBC to deliver the exceptional product and experience each banner is renowned for. The new 131,906 sq. ft. Saks Fifth Avenue and new 119,605 sq. ft. Lord & Taylor stores will be located within “The Collections” area of American Dream, a sophisticated and elegant architectural showcase of luxury and lifestyle retailing. The new 30,000 sq. ft. Saks Fifth Avenue OFF 5TH will be located in the 3rd level off-price district.
“American Dream welcomes Hudson’s Bay Company and is very excited to introduce the next generation of their state-of-the-art department stores to the NY Metropolitan market and the world. Our customers will be thrilled that such popular and iconic mainstays of New York shopping, Saks Fifth Avenue, Lord & Taylor and Saks Fifth Avenue OFF 5TH, will be launching their newest stores at American Dream. We believe this match will be an extraordinary success and our customers and visitors will be amazed at this new and unparalleled experience in fashion shopping.” Don Ghermezian, President, Triple Five.
About Hudson’s Bay Company
Hudson’s Bay Company, founded in 1670, is North America’s longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada’s most prominent department store with 90 full-line locations, two outlet stores and thebay.com. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com.Saks Fifth Avenue, one of the world’s pre-eminent luxury specialty retailers, comprises 38 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 86 U.S. stores and saksoff5th.com. Home Outfitters is Canada’s largest kitchen, bed and bath specialty superstore with 66 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC”.
About American Dream
American Dream is being developed by The Triple Five Group of Companies, owners of the two largest shopping and entertainment centers in North America, Mall of America and West Edmonton Mall.
Opening in late summer 2017, phase one of American Dream will house approximately 3 Million Square feet of shopping, entertainment and attractions and host 40 Million guests annually.
Hudson’s Bay Company
Tiffany Bourré, 905-595-7184
Director, External Communications
Debbie Patire, 201-340-2919
Senior Vice President Marketing
Source: Hudson’s Bay Company
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