The luxury retailer will become the latest well-known company to close doors in the once-shining downtown shopping district.
Luxury division chain Sachs Fifth Avenue confirmed on April 25th that it will close its Union Square location in San Francisco next month, making it the latest to leave the historic shopping district.
“We saw meaningful engagement and success through the appointment-only format, but we made this decision as part of the integration process that focuses on long-term growth,” a global spokesman for Saks told the Epoch Times in an email Friday.
The company looks forward to serving the Bay Area community at Neiman Marcus San Francisco, Neiman Marcus Para Alto, Fifth Avenue Club Palo Alto, saks.com and neimanmarcus.com, according to a spokesman.
The company said its vision includes preserving the exceptional items from the Saks Fifth Avenue and Neiman Marcus brands.
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“There is no broader plan for integration in the market run by Saks Fifth Avenue and Neiman Marcus,” the spokesman added.
Saks employees will be able to forward to Neiman Marcus San Francisco when possible, and others will receive a separation package, the spokesman said.
Union Square Alliance, an organization dedicated to strengthening its shopping districts, said it is expected to close and is part of downtown’s transformation.
“The closure of the sax marks the end of the era, but this was not an unexpected development, not an unexpected one. Also consider the recent changes to the acquisition of Neiman Marcus.” “We hope that the path to revitalization of downtown will have its twist and turn. We are very optimistic about Union Square’s future.”
Security guards look at the entrance to the Louis Vuitton store near Union Square in San Francisco on November 30th, 2021. The store got into the window as a security measure amid the surge in the theft. Ethan Swarp/Getty Image
According to the Alliance, the retail movement will continue downtown with clothing and beauty products retailer Zara launching a flagship store on Post Street, and menswear store John Barbatos relocating to the district, with the thriving shoe palace on Powell Street.
Nintendo is also planning to open its long-awaited second US store in May, the alliance reported.
“With the vibrant summer events and our bloom programming ahead, 2025 is becoming a standout year at the heart of San Francisco,” Raysman added.
Union Square in Bloom is an annual promotion that highlights flower displays in the shopping district.
