By  on October 4, 2018

Traditional retail might be going through major changes at the moment, but Cartier still sees a lot of value in a prime spot at Saks Fifth Avenue.

The fine jeweler, a subsidiary of Compagnie Financière Richemont SA, on Wednesday filed suit in local New York court against Saks, part of Hudson’s Bay Co., claiming that the retailer’s $250 million remodel and a related attempt to end years early a five-year lease for a retail space within its Manhattan flagship is damaging its business. Cartier is seeking at least $40 million in damages.

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