Who says shopping and sharp sartorial style are for women?
Not Saks, as they are officially moving to tap into the metrosexual male and his passion for fashion, with plans for a new storefront designed to cater exclusively to men’s products.
"Saks Fifth Avenue recognizes that men are more interested in high-fashion than they ever have been, and there are no unique upscale national men’s retailers that is tapping this market,” said Ken Morris, principal, Boston Retail Partners. “Men are spending more on apparel and footwear than ever before, according to Euromonitor International reports, and Saks is seizing this opportunity to give men an exclusive luxury shopping experience."
Coming soon to downtown Manhattan (sometime in 2017) the 16,750-square foot store will be stocked across categories with a main focus on fashion, and programs that support it like bespoke tailoring and personal shopping.
Saks parent company, Hudson Bay, says the store will be (as so many things are these days) an experiential shopping hub tailored to the discerning gentleman.
"Once the New York Men’s Store proves successful, which appears likely, Saks will probably open men’s stores in some of the other top luxury retail markets like Boston, Chicago, Dallas, Las Vegas, Miami and San Francisco,” Morris said.
Menswear has been a powerful growth segment for almost 10 years, having grown 70 percent since 1998 and projected to grow faster than women’s clothing in the next few years. Pushing the trend? Affluent millennials, who apparently do not all dress like shabby-chic tech-billionaires who left out the chic.
"Building a free-standing Saks Fifth Avenue Men’s Store at the crossroads of the United States financial market and New York’s burgeoning downtown fits perfectly with our vision to expand our leadership position in the luxury space,” said Marc Metrick, president of Saks Fifth Avenue, in a statement. “We look forward to creating a tailored experience for our customers in a dedicated environment, filled with authoritative merchandising assortments."