Here’s Saks Fifth Avenue History and Ownership (1867-2024)

As of 2024, Saks Fifth Avenue carries an extensive array of exclusive brands and designer labels. The high-end retailer showcases top designers, including Aknvas, Akris, Akris punto, Alaïa, Alala, Alberta Ferretti, Alberto Audenino, and Alberto Milani. Here’s a detailed look at its historical milestones and ownership changes.

Early Beginnings 1867: Andrew Saks, the father of Horace Saks, opened his first store in the F Street shopping district of Washington, D.C. This store would form the foundation for the Saks brand. 1902: The Saks family opened a large store in New York City’s Herald Square on 34th Street and Broadway.

Andrew Saks managed this store alongside his brother Isadore and sons Horace and William. 1912: After Andrew Saks’ death, his son Horace took over the company’s management. The Rise of Saks Fifth Avenue 1923: Saks & Co. merged with Gimbel Brothers, Inc., run by Horace Saks’ cousin, Bernard Gimbel.

This merger set the stage for future expansion. September 15, 1924: The iconic Saks Fifth Avenue store at 611 Fifth Avenue in Manhattan opened to great fanfare. Designed by architects Starrett & Van Vleck, the building featured a classic architectural style, with…