Hudson’s Bay Company (HBC) wants to be a part of the American Dream. The company announced Friday plans to bring three of its retail banners—Saks Fifth Avenue, Lord & Taylor and Saks Fifth Avenue OFF 5TH—to American Dream New Jersey, a mega retail, restaurant and entertainment complex slated to open in East Rutherford, NJ in 2017.
The new Saks Fifth Avenue and Lord & Taylor stores will be located within “The Collections” area, a sophisticated and elegant space dedicated to luxury and lifestyle retailing. The new Saks Fifth Avenue OFF 5TH will be located in the third level off-price district.
“The American Dream concept presents an exciting opportunity for the HBC portfolio of brands as we continue to drive forward our growth strategy in North America. Never have we housed all three of our US banners in one location. Each one—Saks, Lord & Taylor and Saks OFF 5TH—caters to a distinct consumer segment, and American Dream positions us to service every consumer, through luxury, better department store, and off-price formats,” said Jerry Storch, Hudson’s Bay Company CEO, in a statement.
American Dream, located inside the Meadowlands Sports Complex, is expected to host 40 million guests annually. The project is being developed by The Triple Five Group of Companies, owners of Mall of America and West Edmonton Mall.
