Saks Fifth Avenue CMO Mark Briggs Explains Sweeping Changes

90-year-old department store aims to be a lifestyle authority

When Hudson’s Bay plunked down $2.4 billion to acquire Saks Fifth Avenue last year, many remarked on the pluck of chief executive Richard Baker. Hadn’t he heard that department stores were yesterday’s retail idea? Yes, he had—and he didn’t care. “Department stores still make a lot of money,” Baker told Reuters. He also promised to “optimize the Saks business while preserving their iconic brand.”

@UpperEastRob robert.klara@adweek.com Robert Klara is a senior editor, brands at Adweek, where he specializes in covering the evolution and impact of brands.