Retail powerhouse Saks Inc. opens Fifth Avenue branch in Kazakhstan
October 2, 2012, 12:05 am TWN
NEW YORK--Saks Inc. opened its first Saks Fifth Avenue store in Kazakhstan on Sunday, as the retailer seeks to tap a growing appetite for luxury in emerging markets.
The tri-level, 91,000-square-foot (8,450-square-meter) store is located in the Esentai Shopping Mall, the first of its kind in Kazakhstan, Saks said in a news release.
The mall is part of Esentai Park, a new development in Almaty that includes luxury residential and commercial towers as well as a five-star hotel that is expected to open next year.
The Saks store is being licensed by the VILED Group, a local company.