The news yesterday that Marigay McKee (left, with Michael Kors), former Chief Merchant of Harrod’s, was moving to New York to become President of Saks was interesting -- but not as interesting as the news today that Richard Baker, the new owner of the store chain (and a sudden department store mogul along the lines of Galen Weston: he also owns Lord & Taylor and Hudson’s Bay) was planning a $200 million refit of the flagship. $200 million on one store? If I was a speculating gal – and you know I am – I would guess this means the Fifth Ave branch is going WAY upmarket. WAY upmarket. And you know what that means? We have new strategy in the department store wars.
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