Saks Fifth Avenue

Place: Washington

Born: 1867

Biography:

Saks Fifth Avenue is an American luxury department store chain headquartered in New York City and founded by Andrew Saks in 1867. The original store opened in the F Street shopping district of Washington, D.C. in 1867. Saks expanded into Manhattan with its Herald Square store in 1902 and flagship store on Fifth Avenue in 1924. The chain was acquired by Tennessee-based Proffitt's, Inc. (renamed Saks, Inc.) in 1998, and Saks, Inc. was acquired by the Hudson's Bay Company (HBC) in 2013. Saks Fifth Avenue's brick-and-mortar stores and e-commerce platform operate as separate companies, distinguished as SFA and Saks, respectively, with an exclusive partnership. Saks Off 5th, originally a clearance store for Saks Fifth Avenue, is now a large off-price retailer in its own right.