Saks Fifth Avenue Department Store
Saks Fifth Avenue is a department store chain that specializes inoffering upscale merchandise to higher income individuals while at the sametime being able take advantage of economy of scale dynamics to offer highend merchandise at better prices then smaller boutique type stores. Storesizes range from less then 20,000 sq. feet in small market locations, suchas Carmel, California to over 250,000 sq. feet in it's two stores located Saks Fifth Avenue has 63 stores located in 24 states, the District ofColumbia and in Saudi Arabia. Saks Fifth Avenue has one or more stores inAlabama, Arizona, California, Colorado, Connecticut, Florida, Georgia,Illinois, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, Missouri,New Jersey, Nevada, New York, (where their flagship store is located),Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, and Virginia.California leads with stores in 12 locations, followed closely by Floridawith stores 11 locations. Riyadh is home to Saks Fifth Avenue's MiddleEast presence. Future store openings are slated for opening early nextyear include stores in Raleigh and Charlotte, North Carolina, Plano, Texas,
James A Coggin is President and Chief Administrative Officer forSaks, Inc. StudioStores, he was responsible for Warner Bros. Finally, Saks Fifth Avenue stores carry higher end luxury items fromcore vendors and new or emerging designers. Prior to his most recent appointment, Coggin heldthe position of President and Chief Operating Officer of Proffitt's, Inc. The total package makesone think wealth and wellness. Interactive Entertainment, and Kids WB Music, generating total annualworldwide retail sales in excess of $7 billion. The two men wantedto build a specialty store that whose name would become synonymous withupscale, fashionable and gracious living. Adam, who previouslyhad been Horace's assistant, has been acknowledged as the man who helpedshape the reputation and prominence of Saks Fifth Avenue. He was previouslya Senior Vice President of NationsBank. Competition Saks Fifth Avenue's main competition comes from several nationallyknown department stores as well as smaller specialty stores. Thecorporation owns and operates 353 department or specialty stores throughoutthe United States. While they are not as financialsuccessful or as large as Macy's (200 stores in the United States,) theycompete with them on terms of merchandise and upscale marketing.
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