Saks Fifth Avenue sets up 1,000-seat centre in India

Saks Fifth Avenue sets up 1,000-seat centre in India
17/08/2017 , by , in News/Views

Saks Fifth Avenue, one of the most famous luxury retailers in the world, is setting up a 1,000-seater technology centre in Bengaluru. The company’s top executives, including chief accounting officer Todd Eugene Zator and chief human resources officer Janis Hamilton Leigh have made several trips to the country to finalize the details of the centre.

The centre has started functioning with a few tens of employees. A note on the India website of its parent firm Hudson’s Bay Company (HBC) says the centre in Bengaluru will build a corporate team that will play an important role as HBC executes its strategic plan.”This centre will house approximately 450 highly talented individuals in the first two years and the office has potential to expand as the business grows. We will begin to build our team in Bangalore focused on information technology, information security, finance and account diversified retailer across North America and Europe that owns brands like Hudson’s Bay, Lord & Taylor, Gilt, Saks Off 5th, Galeria Kaufhof, the largest department store group in Germany, and Belgium’s only department store group Galeria Inno.HBC has 480 stores and 66,000 employees globally.

Saks Fifth Avenue’s flagship store in New York opened in 1924 as a joint venture between two American retailers, Horace Saks of Saks & Co and Bernard Gimbel of Gimbel, with the objective of targeting upscale customers. In 2013, the year HBC acquired the brand, the flagship store’s real estate value was estimated between $800 million and over $1 billion, and generated around 20% of Saks’ annual sales at $620 million.

Since 2000, Saks has opened international locations in Saudi Arabia, UAE, Bahrain, Kazakhstan, Mexico City, and Canada. There is speculation that the retailer is in talks with the Aditya Birla Group to open its first India outlet in New Delhi.

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