saks fifth avenue

Saks Fifth Avenue is a chain of upscale department stores, and is a subsidary of Saks Incorporated. The flagship store was opened by Horace Saks in 1924 on Fifth Avenue (hence the name) in New York City. The Saks family had operated stores since 1902, but in 1923 they merged with Gimbel's and concentrated the upscale business in the Saks Fifth Avenue store. The chain business stayed on the East Coast and the Midwest of the United States until the mid 1990s. After 1995 it expanded its business to the West Coast and opened branch stores in other affluent areas including Beverly Hills and Stanford Shopping Center. It was in the Beverly Hills Saks Fifth Avenue that Winona Ryder was caught shoplifting. A joke about this was played out in the movie White Chicks. Major luxury department store competitors include Neiman Marcus, Nordstrom and Bloomingdale's.

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