Months ago, it was announced that Saks Fifth Avenue would arrive in Mexico City, but yesterday marked the much-anticipated grand opening in Santa Fé.
At precisely 8 p.m., VIP shoppers and guests entered Saks Mexico City, one of the first being one of the world's richest men, Carlos Slim Helú. The grand opening was kicked off by Carlos Slim Domit, Grupo Sanborns president and director of Saks Mexico.
The place was full of trend-hungry Mexican people eager to get their hands on the brands housed in the store including Dolce & Gabbana, Bvlgari, Salvatore Ferragamo, Giorgio Armani, Balenciaga, Gucci, Donna Karan, Carolina Blacksmith, Ermenigelindo Zegna, Calvin Klein, Ralph Lauren, Prada, Escada, Oscar of the Income, Yves St. Laurent and Max Crystal Ball.
This is the first Saks store out of the United States, signifying Mexico City's growing dominance as an international fashion capital.
Saks Fifth Avenue Mexico City
A New Shopping Temple in Santa Fe
Trend Themes
1. International Expansion of Luxury Retail Brands - Saks Fifth Avenue opening its first store outside of the US in Mexico City signals a growing trend towards international expansion of luxury retail brands.
2. Growing Presence of Mexico City in Global Fashion Market - The opening of Saks Fifth Avenue in Mexico City highlights the city's growing dominance as an international fashion capital, indicating a trend towards the city becoming a major player in the global fashion market.
3. Increasing Demand for High-end Luxury Brands in Emerging Markets - The trend-hungry Mexican customers eager to get their hands on high-end luxury brands at the new Saks Fifth Avenue store in Mexico City indicate a growing demand for luxury brands in emerging markets.
Industry Implications
1. Global Luxury Retail - Saks Fifth Avenue's opening of its first store outside of the US in Mexico City presents disruptive innovation opportunities for global luxury retail brands to expand into emerging markets.
2. Fashion and Apparel - The growing dominance of Mexico City as an international fashion capital presents disruptive innovation opportunities for the fashion and apparel industry to focus on emerging markets.
3. Emerging Markets Retail - The increasing demand for high-end luxury brands in emerging markets, as demonstrated by Saks Fifth Avenue's successful launch in Mexico City, presents disruptive innovation opportunities for the retail industry to focus on these markets.