Fifth Avenue is now downtown

The architect Richard Found has been given free rein to create a new space for Saks Fifth Avenue in downtown New York. The three-floor department store, which stocks more than 200 luxury beauty, clothing and accessories brands, is entirely dedicated to women’s lines and will be joined next spring by a nearby menswear store.

Saks Fifth Avenue is looking to make its mark on Lower Manhattan before competitors Neiman Marcus and Nordstrom arrive, which is scheduled to happen over the next two years.

‘Twenty-five years ago, Fifth Avenue was the centre of luxury. Now it’s downtown,’ Saks president Marc Metrick told Business of Fashion. ‘It’s important for us to come and create this at both ends of the balance. This ensures that Saks is first and foremost on everyone’s mind.’