Francesco Risso will become creative director of the label.
The designer had most recently been freelancing after running his own label and working at Cerruti and Jack Wills.
The four-story town house features a couture salon and a ground-floor accessories showcase.
The Australian investors have bought David Jones’ 78-year-old Market Street store as part of plans to expand Scentre’s Westfield Sydney luxury retail precinct.
Amid an array of designer shops, there’s spaciousness and consistency of tone.
Saks’ chief merchant believes it’s the right time to take fashion risks.
The four-level boutique on New Bond Street is billed as the French brand’s largest in Europe.