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Jewelry at Saks Fifth Avenue is joining beauty by going up a floor.

Today, the department store unveils a renovated jewelry department at its Fifth Avenue flagship, which it has relocated from its main level to the second floor.

This represents the latest phase in Saks’ multiyear flagship renovation. Jewelry shares the second floor with cosmetics, which has also been moved upstairs — all to make room for a renovated handbags, accessories and leather-goods department that will occupy the entire ground level.

Saks said this renovation is its latest investment in the jewelry category, in which it sees much promise. In 2017, Saks unveiled The Vault — a stand-alone jewelry store located on Greenwich, Conn.’s retail thoroughfare.

“Jewelry is an emerging category for Saks, one we believe we can become a headquarters for. Right now, we’re hyper-focused on the right product assortment combined with the right experience, spanning all categories and across channels,” said Marc Metrick, president of Saks Fifth Avenue.

“With the multiyear renovation of our New York flagship, including Jewelry on 2, we hope to yield a much richer, rewarding and engaging experience for our clients. It is the new luxury. Jewelry on 2 is much more than simply a shop — it is a destination, inclusive of an exceptional product assortment, unique experiences and high-touch associate connectivity,” he added.

Jewelry on 2, as it’s been dubbed, offers jewelry ranging from about $500 and extending well into the six-figure range. The selection encompasses an array of aesthetic preferences, with designers on offer including David Webb, Temple St. Clair (which occupies a shop-in-shop), David Yurman, Dinh Van, Mikimoto, Gurhan and more.

This grouping will eventually be joined by Saks flagship’s own version of The Vault. This department — to be located in the store’s basement — will offer high jewelry from houses including Chopard and Graff. An opening date has not yet been set.

“Jewelry on 2 is our chance to celebrate our curated jewelry assortment, such as Aurélie Bidermann, Anita Ko, Dinh Van and David Webb, as well as provide the necessary intimacy expected by our clients,” said Tracy Margolies, Saks’ chief merchant.

Marta Nowakowski, vice president, divisional merchandise manager of jewelry, said of the floor’s selection: “The designers we have selected were chosen by thinking of loyal customers and potentially new customers. I think jewelry’s [success] right now is probably because of trends. We’ve seen the layering trend with necklaces, women now have multiple piercings so they need multiple earrings — it’s a big opportunity.”

Jewelry on 2 features two VIP rooms, and will also host experiential events — including piercing parties, which “surprisingly” saw much success at The Vault in Greenwich.

Added Nowakowski: “It’s all about the experience — we want to be there for women buying jewelry for herself or as a gift. We offer privacy with our VIP rooms — one is large enough to host a private party. These are the things we are offering to enhance experience — that’s really what it’s all about.”