WeWork Partners with Saks on Co-Working Spaces

Hudson’s Bay Co. (Brampton, Canada), owner of Saks Fifth Avenue, is partnering with WeWork (New York) to open co-working spaces in former Saks department stores in the New York metro area, reports Inc.

The partnership is structured so that the spaces, dubbed SaksWorks, will be managed by WeWork, which won’t pay rent. In return, We Work will run and staff the locations in return for a percentage of the revenue. Saksworks will include cafes and gyms in addition to the work space for a monthly $299 membership fee.