Being First
Saks Fifth Avenue has plans to be the first department store in the United States to open in Shanghai, China. Saks Inc., the Birmingham, Ala.–based parent corporation of Saks Fifth Avenue, announced it has entered into a licensing and consulting agreement with Roosevelt China Investments Corp. to open a store in 2008 on the Bund, an upscale area next to the Huangpu River. The agreement allows Roosevelt China to locate and develop sites for potential Saks Fifth Avenue stores it will own and operate in China and Macau.
