Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsOct 11, 2018
Saks Files $55M Countersuit in Cartier Case
The department store hit back at the luxury jewelry brand in the conflict stemming from the former’s New York City flagship renovation.
Pictured here is the recently redone jewelry department at Saks Fifth Avenue’s New York City flagship store. The store’s renovation is at the heart of a conflict between the department store chain and Cartier.
New York—The legal conflict between Cartier and Saks Fifth Avenue just got more interesting.
Saks Fifth Avenue responded to Cartier’s $44 million lawsuit filed in New York State Supreme Court last week with a multimillion-dollar suit of its own.
On Oct. 5, the department store chain filed a countersuit in New York State Supreme Court, asking for $55 million and for Cartier to vacate its Fifth Avenue New York City flagship.
The conflict stems from Saks’ renovation of that store.
Saks proposed a new location for the Cartier shop-in-shop amid the overhaul, which the jewelry brand objected to, asserting in a statement that it did “not align with the Maison’s positioning and image standards.”
According to Cartier, Saks terminated its five-year lease agreement with the Richemont-owned jewelry brand amid the renovation row, which is when the latter took the matter to court.
In Saks’ countersuit, however, the retailer alleges that it didn’t have a lease with Cartier but, rather, a five-year concession agreement, though it did admit that the agreement between the companies stated that changes in the location of Cartier wouldn’t be made without written consent from both parties.
Saks noted, however, that the agreement contains a provision that allows either party to terminate the agreement if Saks’ “matrix, business model and/or Saks Fifth Avenue brand perception were to materially change.”
The Hudson’s Bay Co.-owned department store chain said that its $250 million+ flagship overhaul constitutes just such a shift, as it is “changing from a product distribution model to a model focused on creating a customer experience at the store focused on dominant category presentations that become destinations.”
It also noted in the countersuit that it is changing the matrix, or mix, of brands.
Unlike the traditional department store model that Saks has employed since its founding in 1924, the renovation saw its beauty department move from the ground floor to the second floor, in a move that allows it to include spa and treatment rooms, and beauty services.
It also launched a revamped jewelry department on the second floor, fittingly called “Jewelry on 2,” that is home to designers like Amali, David Webb, David Yurman, Gurhan, Ippolita, John Hardy, Marco Bicego, Mikimoto, Roberto Coin, Temple St. Clair and Zoë Chicco.
Saks now aims to move leather goods to the ground floor and high-end jewelers like Cartier to the basement level, in a “chic, extravagant space,”
dubbed “The Vault,” which will be “the perfect environment for clients pursuing large transactions,” it said.
The retailer noted that Chopard, Graff and Chanel will be among the jewelers taking up residence in The Vault.
“Saks therefore envisioned all of its highest-end jewelers moving to The Vault to provide a more private, secure location for making very expensive purchases,” the countersuit states. “This transformation was based upon experience showing that the customer prefers not to make purchase decisions in the tens of thousands of dollars in the same place that other customers are shopping for lipsticks.”
Saks alleges that Cartier refused a prime location in The Vault or even other spots on the store’s ground level.
The retailer said it plans to unveil its new ground floor in time for the next New York Fashion Week, occurring in February 2019, stating that “any delay in turnover of the Cartier concession for demolition and construction would make it impossible for Saks to meet the immovable deadline created by the Fashion Week schedule.”
The retailer noted that Chopard, Graff and Chanel will be among the jewelers taking up residence in The Vault.
“Saks therefore envisioned all of its highest-end jewelers moving to The Vault to provide a more private, secure location for making very expensive purchases,” the countersuit states. “This transformation was based upon experience showing that the customer prefers not to make purchase decisions in the tens of thousands of dollars in the same place that other customers are shopping for lipsticks.”
Saks alleges that Cartier refused a prime location in The Vault or even other spots on the store’s ground level.
The retailer said it plans to unveil its new ground floor in time for the next New York Fashion Week, occurring in February 2019, stating that “any delay in turnover of the Cartier concession for demolition and construction would make it impossible for Saks to meet the immovable deadline created by the Fashion Week schedule.”
More on Majors
The Latest
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
TechnologyApr 17, 2025
Technology Therapy Group Expands AI Training for Jewelry RetailersThe online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
SourcingApr 15, 2025
Diamond Club West Coast Names 2025 BoardThe organization has reelected Kalpesh Jhaveri as president.
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
WatchesApr 11, 2025
Bulova Documentary Now on Amazon Prime“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.
