A deal is expected to be framed soon between Saks Fifth Avenue Inc., American luxury department stores, and Aditya Birla Fashion and Retail Limited (ABFRL) to open Saks Fifth Avenue outlets in India. If reports are to be believed then New Delhi’s Aerocity near Indira Gandhi International Airport is expected to host first Saks store in the Indian market while second store may come up in Mumbai.
Officials from both the companies are yet to comment on this development. If the deal between the two becomes a reality, then Saks Fifth Avenue will be the first multi-brand luxury retailer to enter India. A team from the fashion retailer has reportedly visited the country twice in the past three months; another trip is likely to be made next month, a source informed a leading Indian daily.
Saks sells luxury brands such as Jimmy Choo, Giorgio Armani, and Tod’s, besides premium brands such as Fila and Puma.