Majors

Saks Fifth Avenue Opens ‘The Vault’

MajorsSep 06, 2019

Saks Fifth Avenue Opens ‘The Vault’

The luxury retailer more than doubled the space dedicated to high jewelry and timepieces at its New York City flagship store.

Saks Fifth Avenue just opened The Vault, which features six jewelry shop-in-shops and eight watch boutiques, at its New York City flagship store. (Photo courtesy of Saks Fifth Avenue/Justin Bridges)
New York—Saks Fifth Avenue shoppers may now enter The Vault, a space dedicated to high jewelry and watches on the lower level of the retailer’s New York City flagship store.

The retailer worked with architecture and design firm Gensler to convert the 12,000-square-foot basement storage area of its Fifth Avenue flagship into retail space, doubling the square footage previously dedicated to jewelry.

The construction of The Vault is part of the larger renovation that included the remodeling of the jewelry department on the second floor, which opened last spring.

“We have created the ultimate luxury destination for high fine jewelry and watches in New York City,” Tracy Margolies, chief merchant at Saks Fifth Avenue, said in a press release on the opening of The Vault.

Customers are invited down into the swanky space, which opened Wednesday, by way of a designer escalator created by Dutch architect Rem Koolhaas.

The decor is modeled after the “opulent” bank interiors of the 1920s as well as the detailing present in luxury watches, featuring vault doors, leather accents, metal textures and sculptures inspired by safety deposit boxes.

There are six fine jewelry shop-in-shops occupying the space: Boucheron, Chanel, Chopard, Graff, Piaget and Repossi.

These are the first U.S. shop-in-shops for Paris-based brands Boucheron and Repossi.

Saks is the exclusive retailer in New York for Assael, Dena Kemp, Nini Jewels and Tabbah, which are sold in The Vault too along with a number of other jewelry brands, including Adam Foster Fine Jewelry, Lorraine Schwartz, Katy Briscoe, Martin Katz, Montblanc, Oscar Heyman, Piranesi, and Robert Procop, with some offering one-of-a-kind store exclusives.

SEE: One-of-a-Kind Jewelry on Display in The Vault

Customers can step into one of the two private VIP viewing rooms to get a closer look at the jewelry and watches.

Eight watch brands are in The Vault as well: Baume & Mercier, Frank Muller, Hermès, IWC Schaffhausen, Jaeger-LeCoultre, Roger Dubuis, TAG Heuer and Vacheron Constantin.

Baume & Mercier’s space will be its first vendor-designed shop in a retailer in North America.

Saks Fifth Avenue noted it now has the largest selection of men’s watches in its history.

“With a unique atmosphere and impressive merchandise selection, Saks is delivering one-of-a-kind experiences, creating personal connections with our customers and transforming the way they shop for these valuable and lifelong pieces,” President Marc Metrick said.

The Vault is the latest step in the retailer’s $250 million “Grand Renovation” plan for its New York City flagship, which also included remodeling its shoe and beauty departments.

Metrick said The Vault was the “epitome” of the retailer’s new luxury strategy, which focuses on individuality, personalization and ease.

In The Vault, an exhibition space has been set aside to feature brand partners, guest curators, special collaborations and other events.

Tiffany & Co. will be the special guest in the space for the opening weeks.

The Tiffany collection on display includes diamond earrings weighing more than 16 carats, a 6-carat fancy vivid yellow diamond ring and a necklace with a sapphire weighing more than 14 carats set in diamonds.

The International Lounge offers multilingual concierge service to cater to shoppers visiting from abroad, as well as luggage and coat storage, package pick-up and other services.

Jewelry and watch repair services also are available.

Customers can head to the International Visitors Center to take a tour of the historic flagship.

Saks has digital initiatives in the works as well, including monthly online jewelry trunk shows and exclusive digital events for top clients. 
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.
tags:

The Latest

Events & AwardsDec 03, 2021
JA New York's Spring Show to Return in 2022

The New Designer Gallery will also make its comeback.

Events & AwardsDec 03, 2021
Gary Roskin Will Receive the 2022 Bonanno Award

Roskin heads the International Colored Gemstone Association, and is a graduate gemologist, author, journalist, and diamond grading expert.

Policies & IssuesDec 03, 2021
Alliance for Responsible Mining Names New Executive Director

Gina D’Amato joins with more than 15 years of experience in sustainable development.

Brought to you by
Train Your Staff Today with Interactive eLearning

Join the prestigious brands, industry organizations and sellers using IGI’s educational services.

CollectionsDec 03, 2021
Piece of the Week: Angely Martinez’s Island Bar Ring

The designer’s memories of beach trips and nature in the Dominican Republic inspired her new opal and pearl collection, “Aqualescence.”

Weekly QuizDec 02, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Nov. 29-Dec. 3, 2021.
Take the Quiz
FinancialsDec 02, 2021
Signet Raises Guidance Again, Expands Selection of Lab-Grown Diamonds

Its additions include an exclusive lab-grown diamond cut for Zales’ “Vera Wang True” line and a lab-grown option for Kay’s “Leo” cut.

TrendsDec 02, 2021
A New Book on Lover’s Eyes Jewelry Is Out Now

“Lover’s Eyes: Eye Miniatures from the Skier Collection” features more than 130 examples of the much-sought-after antique style.

Brought to you by
3 Tips For Entering the Estate Market

Generate foot traffic and expand your jewelry expertise by adding an estate assortment to your store in partnership with Windsor Jewelers, Inc.

SurveysDec 02, 2021
2021 Will Be the ‘Year of Jewelry,’ Analyst Says

Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.

×