Come June 15th, Saks Fifth Avenue will shutter its location at Galleria Dallas. The move will end a run of some 30-plus years here in Big D for the New York-based luxury retailer. Only discounted Off 5th locations will remain in the area, after the fact.
This disappointing news was released by Galleria reps just yesterday, coupled with the more positive announcement of a new anchor to come.
Upon Saks’ exit, an extensive overhaul of the vast, three-story, 170,000 square foot space will begin. When complete in Spring 2014, it will welcome the Belk department store chain’s first flagship store in the Southwest.
As the largest family owned and operated fleet of department stores in the nation, Belk offers mid-priced apparel and accessories, as well as home goods, shoes, and children’s clothing. The brand currently operates over a dozen stores in Texas, most in outlying areas such as Lufkin, Greenville, and Waco.
“Texas has been a very strong market for us,” said Tim Belk, Chairman and CEO. “We see great opportunities for growth in the state.”
According to Monday’s press release, Belk’s Galleria plan is but one component of a multi-year, $600 million brand investment. For this project alone, Belk and Galleria Dallas will together invest $20 million in renovations to the site.
No doubt much buzz will build as this great change develops at one of our city’s most popular shopping centers. We will keep you posted on updates as they are available.
(Lead image via Archinect.com; inset images via Galleria Dallas)