 FEB 1 - New York based
high-end fashion retailer Saks
Fifth Avenue is coming to India. The company which caters to
yuppies and New York's fashion albeit fashion conscious world's
who's who, has signed a formal
agreement to buy 50,000 square feet space at an upcoming shopping
mall in Delhi called Vasant Kunj.
The upscale mall is being built by Delhi realty major DLF
Properties.
In Mumbai, DLF has been trying to interest the Saks licensee into
investing in one of its upcoming properties in Mahalakshmi. Market
sources, however, indicate that no Mumbai deal has yet been signed.
Industry experts inform that Style Avenue Middle East, which owns
license for the Persian Gulf region, has brought Saks to India.
Saks has the largest store outside the US in Dubai; the Saks Dubai
has been showcasing several Indian designer collections as well.
Since its debut in 1924 at New York’s Fifth Avenue, Saks has enjoyed
the reputation of being icon of high end fashion stores.
Its stores sell cosmetics, fragrances and accessories with several
individual designer boutiques such as Tiffany’s, Scavia, Prada,
Alberta Ferretti, Philosophy, Jean Paul Gaultier, and Christian Dior
to name a few. |
