Private company

Saks Fifth Avenue

Saks Fifth Avenue (colloquially Saks) is an upmarket American department store chain founded in 1867 by Andrew Saks.1

Last updated Oct 18, 2026.

Overview

1898Founded1

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Saks Fifth Avenue (colloquially Saks) is an upmarket American department store chain founded in 1867 by Andrew Saks. The first store opened in the F Street shopping district of Washington, D.C., and expanded into Manhattan with its Herald Square store in 1902. Saks was bought by the Gimbels department store chain in 1923 and expanded nationwide during this ownership, and opened its flagship store on Fifth Avenue in 1924. Gimbels and Saks were acquired by Brown & Williamson in 1973, and transferred to sister company Batus Inc. in 1980. While Gimbels was liquidated in 1987, Saks was sold to Investcorp in 1990. Saks Off 5th was established as a Saks clearance store the same year, and has since evolved into an off-price store chain. Saks was acquired by Proffitt's, Inc. (renamed Saks, Inc.) in 1998.2

How it started

Early history

In 1867, brothers Isadore and Andrew Saks established the men's clothing store, A. Saks & Co. The company 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 and offered refunds on merchandise returns. 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. In 1887, Saks acquired began building a new location on the site of the old Avenue Hotel Building at 7th and Market Space (now United States Navy Memorial Plaza).

By 1896, Saks and Co. had stores in Norfolk and Richmond, Virginia; New York City; and Indianapolis, in addition to Washington, D.C., where, Saks called itself "Washington's Wonderful Store".

20th-century history

Saks opened its New York City Herald Square on 34th Street and Broadway in 1902. Andrew Saks ran the New York store as a family business with his brother Isadore, and his sons Horace and William. Following Andrew Saks' death in 1912, his son Horace took over the company's management.

Gimbels ownership

From Wikipedia’s article on Saks Fifth Avenue, shared under CC BY-SA 4.0.2

Leadership

Who has led Saks Fifth Avenue, and when. Pick a name to see everywhere that person has worked.

Timeline

  1. 1898Founded Founded in New York City1

Sources

The numbers on this page point here. Each one links to the record it came from.

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