April 14--A new Saks Fifth Avenue Off 5th store is opening Thursday on State Street, with another of the off-price chain's stores headed to the Goose Island neighborhood in May.
The store at 6 S. State will be the off-price retailer's first in downtown Chicago, said Jonathan Greller, president of off-price at Hudson's Bay Co., which owns Saks Fifth Avenue and Saks Off 5th.
The second new Chicago location is in the NewCity development at 1457 N. Halsted St. A 40,000-square-foot store is scheduled to open May 5.
With traditional department stores struggling, some chains have been expanding their roster of off-price stores to compete with value-oriented retailers like T.J. Maxx or fast-fashion brands like H
Greller said he sees Saks Off 5th as having more of a luxury bent than a typical off-price store. Though it gets about 10 to 15 percent of its merchandise from Saks Fifth Avenue, the rest of what's on the racks is picked for the retailer, which offers more than 800 designer brands, he said.
"Since 2008, it's been all about value, but customers are looking for true fashion at real value," he said.
lzumbach@tribpub.com
