Saks Fifth Avenue, continuing to prune its store base, said Tuesday that its unit in WestShore Plaza in Tampa, Fla., will close May 4, affecting 105 associates.
“We never like closing stores,” Stephen I. Sadove, chairman and chief executive officer of Saks Inc., told WWD. “It’s never an easy decision. But Tampa’s volume was declining. We didn’t think there was a longer-term growth opportunity for us. We think we can make better use of corporate funds. We are investing in a new store in Sarasota, which is less than an hour away from Tampa.”
Asked how many more Saks Fifth Avenue stores could close in the future, Sadove replied, “I don’t think you will see a huge number of store closings going forward.” He added that the company regularly assesses the productivity, profitability and potential of each store. Saks Inc. operates 43 Saks Fifth Avenue stores, 66 Saks Off 5th outlets and saks.com.
The company previously said it will close its Stamford, Conn., store in early 2014, and the store in the Galleria in Dallas will close in June. Over the past decade, Saks Fifth Avenue has closed 19 stores.
In Tampa, the Saks associates will be offered transfer opportunities or will receive employment separation packages. The Tampa store is 15 years old. In Sarasota, a new 80,000-square-foot Saks, opening in The Mall at University Town Center in 2014, will replace an existing 40,000-square-foot unit.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion