TI ME
WELL SPENT
43
FORTUNE.COM // APR.1.19
RETAIL
ASCENDING A SLEEK NEW MULTICOLORED escalator, designed by
Dutch architect Rem Koolhaas, Saks Fifth Avenue presi-
dent Marc Metrick is a man vibrating with excitement
ahead of the store’s grand unveiling. The escalator’s bright
red and blue hues and a large LED ceiling, which creates
the illusion of a blue sky, pop in sharp contrast with the
gray curtains used to cordon off a dusty construction area.
Change is afoot on the ground floor of one of Manhattan’s
most iconic department stores.
This sense of theater epitomizes what Metrick—who has
been president of the HBC-owned Saks since 2015—is con-
vinced the company has to offer today’s shoppers, particu-
larly at its 650,000-square-foot New York City flagship.
The gateway drug:
Handbags—not
per fume—are
bringing customers
into luxury retail.
TAKING BACK
FIF TH AVENUE
A $250 million revamp of Saks’ Manhattan
flagship is the tip of the spear in the
hypercompetitive department store wars.
By Phil Wahba
PHOTOGRAPHS BY KARSTEN MORAN
