In this powerful talk, she asks us to see people with mental illness clearly, honestly and compassionately.
Still, opening a brick-and-mortar store is a risky gambit at a time online sales make up more than 20% of sales at the major department stores and same-store sales are sagging.
And downtown or not, the new Saks store will soon be facing a ton more competition.
Its competition hasn't been spared either: Neiman Marcus and Nordstrom (jwn) have each reported several consecutive quarterly drops, while Macy's (m) Bloomingdale's chain has been hurting too.
(Macy's does not break out those results.)So the strategy, paradoxically, is to return to what luxury department stores used to do: a focus on brands shoppers can't readily find at competitors, an emphasis up-and-coming brands, and personalized service of the kind sales staff used to offer their very best customers, the ones whose names they kept in their "black books" and gave extra special service to.
It'll also benefit from a surge in tourism: NYC&Co, New York's tourism marketing agency, is forecasting 59.7 million people will visit the city this year, compared to 43.8 million a decade ago.
And that growth has been more marked in Lower Manhattan with the opening of One World Trade Center, a museum and a memorial to 9/11 victims having opened in recent year.
To that end, the Saks store will showcase edited assortments of 200 brands, with its own stylists playing a larger role in selecting what gets displayed."It's de-departmentalizing the department store - you should feel like you're in a boutique," Metrick, a long time Saks executive who took the helm in April 2015, tells The 86,000-square-foot location, anchoring a newish luxury mall operated by Brookfield, is a fraction of the size of the uptown Saks, which at 600,000 square feet is one of New York's grandes dames of luxury, along with Neiman Marcus Group's Bergdorf Goodman.
Saks' strategy has echoes in Barneys New York's move this year to open a smaller downtown store that is more edited and edgier.
" It's a question Elyn Saks once asked her doctor, and it wasn't a joke.