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Saks Fifth Avenue Opens Doors To WeWork For Co-Working Space

Shopping and working come together in a collaboration between luxury retailer Saks Fifth Avenue and co-working space startup WeWork in a new venture called SaksWorks, according to a Tuesday (Aug. 10) press release.

Saks, owned by Hudson’s Bay Company (HBC) since 2013, will open its first SaksWorks in Manhattan in September, with plans to four additional locations in the tri-state area. One location will be the Saks Fifth Avenue flagship store in Manhattan.

Other initial locations include Manhasset, Long Island; Scarsdale, New York; and Brookfield Place in Manhattan. Future plans include opening across North America.

SaksWorks marks HBC’s first move into “incubated ventures” and HBC Governor, Executive Chairman and CEO Richard Baker said the company is “future-facing” and operates at the “intersection of technology, real estate and operating companies.”

See also: ​​Saks.com To Be ‘Separate But Related Sister’ To Saks Fifth Ave Brick-And-Mortar Stores

He added that Saks Fifth Avenue’s 154-year history is “associated with style and hospitality.” Its legacy and “brand equity” will now expand to include the current “moment of hybrid work.”

Managed by WeWork, SaksWorks is planning to offer co-workers a blend of chic work and meeting spaces in addition to boutique cafes with fresh work and beverages, along with exercise studios and scheduled events.

“There is significant untapped potential for third-party usage of WeWork’s proprietary workplace management technology, which, for a decade, has powered how we operate, manage and sell our spaces with a member-focused mindset,” WeWork CEO Sandeep Mathrani said. 

Read more: WeWork Will Now Accept Cryptocurrency Payments

“Today, with Hudson’s Bay Company, we take the first step toward expanding our technology platform product offering and providing a differentiated approach to how landlords can incorporate flexible space across their portfolio. In SaksWorks, we found a partner equally dedicated to unparalleled member experiences and are eager to launch a best-in-class product together,” he said.

Amy Nelson was appointed the president of SaksWorks and hails from The Riveter, where she notched $30 million to help working women nationwide by opening 10 co-working spots. She is also a columnist for Inc. and the co-host of iHeartMedia’s What’s Her Story podcast, per the press release.

“The pandemic has changed so much about our lives, including how we work and where we live,” Nelson said. “We created SaksWorks because the millions of Americans who now work remotely from their suburban homes or who find themselves as part-time commuters in this hybrid world deserve a beautiful place to work and gather.

“As a working mom of four young children, I think I speak for many when I say that I’m tired of Zoom calls in the closet. SaksWorks brings together work and life in a way that has never been done before.”

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