(Filed Under Financial and General Interest News). Saks Inc. disclosed the planned opening of the first licensed Saks Fifth Avenue store in Almaty, Kazakhstan.
The 91,000-square-foot, tri-level store is slated to open August 2012 in the Esentai Shopping Mall, a new luxury shopping center that will be part of complex including residential and commercial buildings as well as a five-star hotel.
Saks reports that the store will have a modern design, including a three-story digital video screen on the façade of the building, and will be similar to Saks Fifth Avenue stores in the United States in customer service and available products while still catering to local trends and preferences.
The licensee for the Kazakhstan Saks store is VILED Fashion LLP, part of The VILED Group, the largest retailer of jewelry and watches in the country. Established in 1999, the group exclusive offers more than 30 upscale brands, including Cartier, Harry Winston, Tiffany & Co. and Van Cleef and Arpels, in 15 stores in Almaty.
"We are so excited to bring our first store to this part of the world and believe that Almaty, Kazakhstan, with its rapidly expanding affluent population, will be a great fit for Saks Fifth Avenue," Stephen I. Sadove, chairman and chief executive officer of Saks Inc., said in a statement. "We hope that the residents of and visitors to Almaty will enjoy our differentiated, world-class selection of luxury brands and services."
Retailer Saks Fifth Avenue offers designer apparel for women and men as well as intimate apparel, children’s apparel, shoes, jewelry, accessories, handbags, fragrances and cosmetics in stores throughout the U.S. as well as licensed stores in Mexico, Saudi Arabia, the United Arab Emirates and Bahrain.
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