Saks Unveils New Luxury Space

RAPAPORT... Saks Fifth Avenue has debuted The Vault, a new floor thatwill feature pieces from luxury fine-jewelry and watch designers. The area, located on the retailer's lower level, willhighlight more than 25 brands, and one of the largest selection of men's watchesthe store has ever offered, Saks said last week. "We have created the ultimate luxury destination for highfine jewelry and watches in New York City," said Saks's chief merchant, TracyMargolies. "With an enhanced and elevated collection of brands, The Vaultfeatures a stunning selection of pieces - from diamond engagement rings andcollectible men's timepieces, to limited-edition and one-of-a-kind styles." Saks redesigned the space as part of its new strategy offocusing on providing luxury, individuality and personalization, as well ascreating a special experience where customers will feel comfortable makingvaluable purchases, it explained. The 12,000-square-foot space, which is more than double theprevious space Saks allotted to jewelry, will feature six fine-jewelryshop-in-shops, eight vendor-designed watch shops and two additional private VIProoms. The International Lounge will offer multilingual concierge services forglobal visitors, daily store tours, and jewelry- and watch-repair services. The Vault will also contain an exhibition space where thecompany will feature brand partners, guest curators and special collaborations.Tiffany & Co. will be the first to present in the exhibition space, andwill offer a collection of white and colored diamonds, and rare coloredgemstones. The line will include diamond earrings weighing more than 16 carats,a 6-carat, fancy-vivid-yellow diamond ring, and a necklace containing more than14 carats of sapphires, set in diamonds. Jewelry designers including Boucheron and Repossi willlaunch their first shop-in-shop space in The Vault, while Bulgari, Chopard, IWCSchaffhausen, Lorraine Schwartz and TAG Heuer will be among the featuredbrands. Image: The Valut. (Saks Fifth Avenue)