Saks Off 5th takes direct aim at existing off price retailers with launch of 3 outlet stores in Ontario.
Saks has definitely done their homework in asserting themselves within the fast growing off price/discount luxury segment in Canada.
Our visit this morning to their new Vaughan Mills location (one of three locations opening today) was an eye opening experience to the aggressive push they are making into this segment.
Store size and layout is very similar to that of other off price players, however they have definitely upped the ante in terms of fashion brand presence at very attractive price points.
We witnessed great selection across menswear, ladieswear and most notably footwear which occupies close to 25% of the entire store.
All of the magical key brands this customer is looking for are present and extremely well called out and marketed around the perimeter walls of the store.
The key advantage for Saks Off 5th will be a steady pipeline of inventory from each one of these brands due to the strong ongoing relationship that the parent Saks has with any and all of these brands. This is a key competitive advantage in this space.
The growth potential of this banner offers great upside for their parent company.
Tony Whitehouse & Bruce Winder
Co-Founders & Partners
Retail Advisors Network™
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