Saks Fifth Avenue’s closure marks a major shift for San Francisco’s commercial hub. The Union Square-based luxury retailer will offer its last services on May 10. With this decision, Saks Fifth Avenue will join a list of popular retail chains exiting the neighborhood.
Saks Fifth Avenue, one of the last remaining luxury department stores in San Francisco’s Union Square, is set to permanently close its doors on 10 May 2025.
Highlights
- Saks Fifth Avenue is preparing to close its Union Square location after nearly 30 years of service.
- Last year, the luxury retail shop had switched to an ‘appointment only’ shopping model.
- Saks Fifth Avenue may transfer some of its staff to its Neiman Marcus store.
Saks’ Journey Will End in Union Square After Almost 30 Years
The luxury retailer has been offering its services to the Union Square crowd since 1997. Saks Fifth Avenue used to operate in the area around Post and Powell Streets in San Francisco.
But the retail giant has now announced its plans for closure, set to happen on May 10.
Through this step, the luxury retailer has joined other top names like Bloomingdale’s, Michael Kors, Walgreens, and Denny’s, which have also ended their operations in San Francisco.
Decision Comes A Year After Switching to ‘Appointment Only’
It has been less than a year since Saks Fifth Avenue laid off its employees and switched to an ‘appointment only’ shopping platform. The idea was to enhance the experience of shoppers at the Union Square store.
Other than this, the luxury retail brand had acquired Neiman Marcus for a whopping $2.7 billion.
After the latest decision, the retail giant will keep the Neiman Marcus store and transfer some of its staff there. It has further cited its integration plans through the Palo Alto and Neiman Marcus locations as the reason for shutting down the Union Square store.
Against this backdrop, it should be noted that the luxury retailer had shuttered another Saks Off 5th store in 2023.
What Lies Ahead for Union Square?
The vibrant shopping space of flagship stores, Union Square, is facing a series of exits from top retail giants, including Saks Fifth Avenue. However, the city leadership could take this time to rethink how they can turn around a new generation of shoppers in the Bay Area with new strategies.
