The merging of the Saks and Gimbel families resulted in more than just the construction of Saks Fifth Avenue. 30-year-old Adam Gimbel (Bernard’s cousin) became Horace Saks’ assistant. With the sudden death of Horace Saks in 1926, Adam Gimbel became President of Saks Fifth Avenue, bringing with him the imaginative foresight that has carried Saks to the zenith of its success. Adam Gimbel also established a Saks empire, with branch stores reaching from coast to coast. When he retired in 1969, he was a legend in his own time. Adam Gimbel’s first action was to redecorate the entire flagship store in the opulent Art Moderne style from the 1925 Paris Exposition, creating a series of specialty shops within the grand luxury of Saks Fifth Avenue. His intuitive perception was demonstrated as Adam traveled all over the world in search of those items that would set Saks eminently above other specialty stores.
On November 4, 2013, Saks Incorporated was acquired by Hudson’s Bay Company (HBC), North America’s longest continually operated company, joining a portfolio of iconic brands including Hudson’s Bay and Lord & Taylor. Richard Baker currently presides as Governor and Executive Chairman of Hudson’s Bay Company. The company’s stock is traded on the Toronto Stock Exchange under the symbol “HBC”.
Saks Fifth Avenue today is renowned for its superlative selling services and merchandise offerings. The best of European and American designers for men and women are sold throughout its 39 stores servicing customers in 22 states.
