Vtg Saks 5th Avenue Christmas Tie Gentlemen Top Hat Anniversary 1924-1974 Navy

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Seller: beachstonesrock ✉️ (784) 97.8%, Location: Toledo, Ohio, US, Ships to: US & many other countries, Item: 195558991265 Vtg Saks 5th Avenue Christmas Tie Gentlemen Top Hat Anniversary 1924-1974 Navy.

Vintage Saks 5th Avenue Christmas Tie

Saks Fifth Avenue (originally Saks & Company; colloquially Saks) is an American luxury department store chain headquartered in New York City and founded by Andrew Saks. 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 Canadian-based Hudson's Bay Company (HBC) in 2013.[5][6]


Saks and Co., next to Kann's, NW corner of Pennsylvania and 7th, Washington, D.C., 1920. Demolished. The Equestrian statue of Winfield Scott Hancock in front still exists in what is now the United States Navy Memorial park.

Andrew Saks was born to a German Jewish family, in Baltimore. He worked as a peddler and paper boy before moving to Washington, D.C. where at the age of only 20, and in the still-chaotic and tough economic times of 1867, only two years after the United States prevailed in the American Civil War, he established a men's clothing store[9] with his brother Isadore.[10][11] A. Saks & Co. occupied a storefront in the Avenue House Hotel building at 517 (300-308) 7th Street, N.W., in what is still Washington's downtown shopping district. Saks offered his goods at one price only, no bargaining, and offered refunds on merchandise returns, neither of which were the more common practice at that place and time.[citation needed] Saks was also known for its "forceful and interesting, but strictly truthful" newspaper advertising, according to the Washington Evening Star, including a two-page spread, large for that time, in that newspaper on April 4, 1898. Saks annexed the store next door, and in 1887 started building a large new store on the site of the old Avenue Hotel Building at 7th and Market Space (now United States Navy Memorial Plaza).[12]


In 1896 Saks opened a branch store in Indianapolis in Ingall's Block, which was a success. then they expanded to Norfolk, Virginia, and by 1897 had six stores: Washington, D.C., Richmond, Virginia, Norfolk, Virginia, Indianapolis, and two stores as well as a clothing factory in New York City. Saks called itself "Washington's Wonderful Store".[13]


20th century

Edit

Saks opened a very large store in 1902 in New York City's Herald Square on 34th Street and Broadway.[12][14]: 2  Andrew Saks ran the New York store as a family affair with his brother Isadore, and his sons Horace and William.[citation needed] Andrew Saks died in 1912 and his son Horace took over the company's management.[14]: 2 


In 1923, Saks & Co. merged with Gimbel Brothers, Inc., which was owned by a cousin of Horace Saks,[15] Bernard Gimbel, operating as a separate autonomous subsidiary. On September 15, 1924, Horace Saks and Bernard Gimbel opened in the Saks Fifth Avenue Building at 611 Fifth Avenue, with a full-block avenue frontage south of St. Patrick's Cathedral, facing what would become Rockefeller Center.[16] The architects were Starrett & van Vleck, who developed a design derived from classical architecture.[14]: 4–5 


When Bernard's cousin, Adam Gimbel, became president of Saks Fifth Avenue in 1926 after Horace Saks's sudden death, the company expanded, opening seasonal resort branches in Palm Beach, Florida, and Southampton, New York, in 1928. The first full-line year-round Saks store opened in Chicago, in 1929, followed by another resort store in Miami Beach, Florida. In 1938, Saks expanded to the West Coast, opening in Beverly Hills, California. By the end of the 1930s, Saks Fifth Avenue had a total of 10 stores, including resort locations such as Sun Valley, Idaho, Mount Stowe, and Newport, Rhode Island. More full-line stores followed with Detroit, Michigan, in 1940 and Pittsburgh, Pennsylvania, in 1949. In Downtown Pittsburgh, the company moved to its own freestanding location approximately one block from its former home on the fourth floor in the downtown Gimbel's flagship. The San Francisco location opened in 1952, competing locally with I. Magnin.[17] BATUS Inc. acquired Gimbel Bros., Inc. and its Saks Fifth Avenue subsidiary in 1973 as part of its diversification strategy. More expansion followed from the 1960s through the 1990s including the Midwest, and the South, particularly in Texas. In 1990, BATUS sold Saks to Investcorp S.A., which took Saks public in 1996 as Saks Holdings, Inc.


In 1990, the company launched "Saks Off 5th", an outlet store offshoot of the main brand, with 107 stores worldwide by 2016.[18]


In 1998, Proffitt's, Inc. the parent company of Proffitt's and other department stores, acquired Saks Holdings Inc. Upon completing the acquisition, Proffitt's, Inc. changed its name to Saks, Inc.[19][20]


21st century

Edit

In November 2001 the first Middle Eastern store opened at Kingdom Centre in Riyadh, Saudi Arabia.[21][22]


In August 2007, the United States Postal Service began an experimental program selling the plus ZIP code extension to businesses. The first company to do so was Saks Fifth Avenue, which received the ZIP code of 10022-7463 ("SHOE", on a U.S. touch-tone keypad) for the eighth-floor shoe department in its flagship Fifth Avenue store.[23]


The first Mexican store opened at the Centro Comercial Santa Fe in Mexico City, Mexico in November of 2007. Another store opened at Plaza Carso in 2010 this store closed in October 2020. [24][25][26][27]


Saks opened a location at the City Centre Mall in Manama, Bahrain in 2008, the store has two floors and is 57,000 square feet and was the third store opened in the Middle East and is currently the only Saks store in the Middle East.[28][29]


During the 2007–2009 recession, Saks Fifth Avenue had to cut prices and profit margins, thus according to Reuters "training shoppers to expect discounts. It took three years before it could start selling at closer to full price".[30][31] [32][33][34][35]


A new international store opened in Almaty, Kazakhstan at 3 floors tall and 91,000 square feet the store is located at the Esenati Shopping Mall and licensed by the VILED Group, it is still in operation as of 2022.[36][37][38]


In 2012, the store in Riyadh owned by Prince Al Waleed bin Talal Al Saud closed after the licensing agreement expired in 2011.[21][22]


As of 2013, the New York flagship store, whose real estate value was estimated between $800 million and over $1 billion at the time, generated around 20% of Saks' annual sales at $620 million, with other stores being less profitable according to analysts

  • Condition: Pre-owned
  • Brand: 5th Avenue
  • Department: Men
  • Type: Tie
  • Color: Blue
  • Theme: Christmas
  • Item Width: Wide
  • Vintage: Yes

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