IndependentsDec 30, 2024
In Memoriam: Jewelry Industry Leaders and Innovators We Lost in 2024From groundbreaking designers to dedicated retailers, National Jeweler pays tribute to the colleagues we bid farewell to this year.
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
Events & AwardsDec 30, 2024
Registration Now Open for JIS Spring 2025The jewelry trade show is set for March 9-11 in Miami.
IndependentsDec 30, 2024
MJSA Elects New Board ChairEdward N. DeCristofaro, who served as MJSA’s board chair from 2012 to 2014, is returning to the role.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
SourcingDec 27, 2024
IDCA Announces 2025 Board MembersManoj Bhandari, a principal of RMC Gems Inc., is the new president of the Indian Diamond & Colorstone Association.
Weekly QuizDec 27, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsDec 27, 2024
18 Designers Graduate from WJA’s Jewelry Loupe ProjectThe designers participated in a six-month business development and mentorship program to develop and launch their jewelry collections.
MajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B DealMembers of the founding family have partnered with Mexican retail company El Puerto de Liverpool to acquire Nordstrom.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
MajorsDec 24, 2024
Boucheron Bets on Las VegasThe brand has opened its second U.S. location in the Fontainebleau resort and casino.
EditorsDec 24, 2024
The Spectrum Jewels I Want to Find Under the Tree Associate Editor Lauren McLemore highlights pieces from the AGTA Spectrum & Cutting Edge Awards she’d be thrilled to unwrap on Christmas.
SourcingDec 24, 2024
Gemfields to Temporarily Suspend Emerald MiningThe move is one of several cost-cutting measures outlined by the company as it faces a weaker luxury market and other challenges.
IndependentsDec 23, 2024
Philadelphia 76ers’ Tyrese Maxey Stars in The 1916 Company’s New CampaignThe retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.
EditorsDec 23, 2024
My Favorite Piece of the Week Jewels of 2024Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.
GradingDec 23, 2024
GIA Adds Filler Identification to Emerald ReportsLab clients have the option to request this addition on their emerald reports.
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
SourcingDec 19, 2024
The Second-Largest Diamond Ever Found Now Has a Name The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at SourceThe average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
