PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsSep 06, 2019
Saks Fifth Avenue Opens ‘The Vault’
The luxury retailer more than doubled the space dedicated to high jewelry and timepieces at its New York City flagship store.
Saks Fifth Avenue just opened The Vault, which features six jewelry shop-in-shops and eight watch boutiques, at its New York City flagship store. (Photo courtesy of Saks Fifth Avenue/Justin Bridges)
New York—Saks Fifth Avenue shoppers may now enter The Vault, a space dedicated to high jewelry and watches on the lower level of the retailer’s New York City flagship store.
The retailer worked with architecture and design firm Gensler to convert the 12,000-square-foot basement storage area of its Fifth Avenue flagship into retail space, doubling the square footage previously dedicated to jewelry.
The construction of The Vault is part of the larger renovation that included the remodeling of the jewelry department on the second floor, which opened last spring.
“We have created the ultimate luxury destination for high fine jewelry and watches in New York City,” Tracy Margolies, chief merchant at Saks Fifth Avenue, said in a press release on the opening of The Vault.
Customers are invited down into the swanky space, which opened Wednesday, by way of a designer escalator created by Dutch architect Rem Koolhaas.
The decor is modeled after the “opulent” bank interiors of the 1920s as well as the detailing present in luxury watches, featuring vault doors, leather accents, metal textures and sculptures inspired by safety deposit boxes.
There are six fine jewelry shop-in-shops occupying the space: Boucheron, Chanel, Chopard, Graff, Piaget and Repossi.
These are the first U.S. shop-in-shops for Paris-based brands Boucheron and Repossi.
Saks is the exclusive retailer in New York for Assael, Dena Kemp, Nini Jewels and Tabbah, which are sold in The Vault too along with a number of other jewelry brands, including Adam Foster Fine Jewelry, Lorraine Schwartz, Katy Briscoe, Martin Katz, Montblanc, Oscar Heyman, Piranesi, and Robert Procop, with some offering one-of-a-kind store exclusives.
SEE: One-of-a-Kind Jewelry on Display in The Vault
The retailer worked with architecture and design firm Gensler to convert the 12,000-square-foot basement storage area of its Fifth Avenue flagship into retail space, doubling the square footage previously dedicated to jewelry.
The construction of The Vault is part of the larger renovation that included the remodeling of the jewelry department on the second floor, which opened last spring.
“We have created the ultimate luxury destination for high fine jewelry and watches in New York City,” Tracy Margolies, chief merchant at Saks Fifth Avenue, said in a press release on the opening of The Vault.
Customers are invited down into the swanky space, which opened Wednesday, by way of a designer escalator created by Dutch architect Rem Koolhaas.
The decor is modeled after the “opulent” bank interiors of the 1920s as well as the detailing present in luxury watches, featuring vault doors, leather accents, metal textures and sculptures inspired by safety deposit boxes.
There are six fine jewelry shop-in-shops occupying the space: Boucheron, Chanel, Chopard, Graff, Piaget and Repossi.
These are the first U.S. shop-in-shops for Paris-based brands Boucheron and Repossi.
Saks is the exclusive retailer in New York for Assael, Dena Kemp, Nini Jewels and Tabbah, which are sold in The Vault too along with a number of other jewelry brands, including Adam Foster Fine Jewelry, Lorraine Schwartz, Katy Briscoe, Martin Katz, Montblanc, Oscar Heyman, Piranesi, and Robert Procop, with some offering one-of-a-kind store exclusives.
SEE: One-of-a-Kind Jewelry on Display in The Vault
Chopard white gold necklace, featuring a 47.85-carat pear shaped emerald, 113 marquise cut diamonds, and 104 fancy cut diamonds. ($647,000)
Chopard white gold necklace, featuring 29 vivid blue, cushion shaped sapphires, 206 pear shaped diamonds, and 262 fancy cut diamonds. ($1.09 million)
Martin Katz 18-karat white gold Whistle earrings, featuring tanzanite, weighing 17.26ctw, and diamonds, weighing 1.19ctw. ($64,000)
Repossi pink gold Blast cuff, featuring 22 pear cut diamonds weighing 13ctw. ($347,200)
Robert Procop platinum pendant, featuring a 24.45-carat emerald and diamonds, weighing 4.08 ctw. (Price available upon request)
Customers can step into one of the two private VIP viewing rooms to get a closer look at the jewelry and watches.
Eight watch brands are in The Vault as well: Baume & Mercier, Frank Muller, Hermès, IWC Schaffhausen, Jaeger-LeCoultre, Roger Dubuis, TAG Heuer and Vacheron Constantin.
Baume & Mercier’s space will be its first vendor-designed shop in a retailer in North America.
Saks Fifth Avenue noted it now has the largest selection of men’s watches in its history.
“With a unique atmosphere and impressive merchandise selection, Saks is delivering one-of-a-kind experiences, creating personal connections with our customers and transforming the way they shop for these valuable and lifelong pieces,” President Marc Metrick said.
The Vault is the latest step in the retailer’s $250 million “Grand Renovation” plan for its New York City flagship, which also included remodeling its shoe and beauty departments.
Metrick said The Vault was the “epitome” of the retailer’s new luxury strategy, which focuses on individuality, personalization and ease.
In The Vault, an exhibition space has been set aside to feature brand partners, guest curators, special collaborations and other events.
Tiffany & Co. will be the special guest in the space for the opening weeks.
The Tiffany collection on display includes diamond earrings weighing more than 16 carats, a 6-carat fancy vivid yellow diamond ring and a necklace with a sapphire weighing more than 14 carats set in diamonds.
The International Lounge offers multilingual concierge service to cater to shoppers visiting from abroad, as well as luggage and coat storage, package pick-up and other services.
Jewelry and watch repair services also are available.
Customers can head to the International Visitors Center to take a tour of the historic flagship.
Saks has digital initiatives in the works as well, including monthly online jewelry trunk shows and exclusive digital events for top clients.
More on Majors
The Latest
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
