The move is part of an international push by the luxury retailer. Saks Fifth has recently opened stores in Dubai and Riyadh, Saudi Arabia, and the company is planning to open a store in Shanghai.
Saks is partnering with Operadora de Tiendas Internacionales S.A. de C.V., an arm of the Carlos Slim Helu-owned pharmacy chain Grupo Sanborns. After opening the store, Saks Inc.'s management says it will consider opening units in other Mexican cities.
The Mexico City location will feature a spa as well as a Fifth Avenue Club. It will offer similar items as Saks' US stores with the addition of some locally influenced products.
Saks Inc. operates 54 Saks Fifth Avenue stores as well as 50 Saks Off Fifth outlet units. The company also operates 38 Parisian department stores that it is selling to Belk Inc. for $285 million and 62 Club Libby Lu specialty stores that management intends to sell off.
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