Page 12 - Sep-Oct 2021

americas news

SAKS FIFTH AVENUE PARENT TEAMS WITH WEWORK

ON COWORKING VENTURE ‘SAKSWORKS’

Hudson’s Bay Co. plans to convert parts of select current and former
Saks department stores into coworking spaces.
The parent company of Saks Fifth Avenue is partnering with
coworking company WeWork on the initiative, called SaksWorks.
The news was first reported by the Wall Street Journal. Plans call for
the first five SaksWorks offices to open in September, in the New
York City area. Locations include Saks’ Fifth Avenue flagship, where
the coworking space will be located on the 10th floor.
Additional SaksWorks spaces will move into Saks stores in the
New York towns of Manhasset, Scarsdale and Westchester, with one
also in Greenwich, Connecticut, according to the report.
SaksWorks will offer co-workers a blend of stylish work and
meeting spaces in addition to cafes and scheduled events. The
majority of the desks will be on wheels to allow for layout flexibility.
The rental cost will be $299 a month, with WeWork operating the
spaces in return for a cut of revenue.

HUDSON’S BAY CO. IS ONCE AGAIN PUTTING A LINE IN THE SAND BETWEEN BRICK-AND-MORTAR AND ONLINE. THE COMPANY PLANS TO SEPARATE ITS HUDSON’S BAY STORE FLEET
AND E-COMMERCE BUSINESS INTO TWO SEPARATE BUSINESSES WITH DEDICATED LEADERSHIP TEAMS. HBC MADE A SIMILAR MOVE IN MARCH, WHEN IT ANNOUNCED PLANS TO SPLIT ITS
SAKS FIFTH AVENUE BUSINESS, SEPARATING THE LUXURY DEPARTMENT STORE RETAILER’S E-COMMERCE BUSINESS AND STORES INTO TWO SEPARATE ENTITIES. UNDER THE NEW MODEL,
HUDSON’S BAY’S 86-STORE FLEET WILL OPERATE AS HUDSON’S BAY. THE RETAILER’S E-COMMERCE ENITITY WILL BE KNOWN AS THE BAY AND BE RESPONSIBLE FOR BRAND DIRECTION.

AMAZON PLANNING TO NEW LOCATIONS FOR
OPEN MORE STORES JACK IN THE BOX

Amazon’s next foray into brick-and-mortar retail will reportedly Jack in the Box Awards is accelerating its expansion following the
center on large spaces akin to department stores. relaunch of its franchising program.
Amazon is planning to open 30,000sq ft locations set up similar The quick-serve restaurant chain has awarded 16 franchise
to small department stores, with the first expected to open in development agreements year-to-date to build 64 new locations
California and Ohio, reported CNBC. The original story appeared in in Arizona, California, Idaho, Texas and Utah. The announcement
the Wall Street Journal. follows the relaunch of Jack in the Box’s franchise development
At 30,000sq ft, the Amazon format would be much smaller than program earlier this year.
traditional department stores but would be in line with the smaller The company is now ramping up development and looking to
store concept now being opened by Bloomingdale’s and Nordstrom. penetrate markets and build brand awareness. As part of the new
Due to the size of the proposed stores, CNBC speculated that they agreements, Jack in the Box will enter Salt Lake City, Chicago and
will primarily be located in strip malls, which are also a principal Louisville for the first time. The brand will also expand existing
setting for Kohl’s stores. Amazon and Kohl’s operate a long-term footprints in Houston, Phoenix, San Francisco, Los Angeles, and
returns partnership; it is unclear if Amazon directly competing with Dallas, among other cities.
Kohl’s would have any impact on this collaboration. With a goal of reaching four per cent annual restaurant growth
The brand reportedly intends its planned department stores to by 2025, Jack in the Box has opened 10 locations through the third
help it sell more apparel and technology goods. quarter of fiscal year 2021.

12 RETAIL & LEISURE INTERNATIONAL SEPTEMBER / OCTOBER 2021