Headlines

WeWork Partners with Saks on Co-Working Spaces

“Saksworks” will leverage vacant store locations in metro NYC

Published

3 years ago

August 13, 2021

WeWork Partners with Saks on Co-Working Spaces — Courtesy of WeWork

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.

Related Topics:co-working Latest Top News retail vacancy saks wework

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

click to Comment(Comment)

Up Next

Adidas Sells Reebok to Authentic Brands

Don't Miss

4 Comeback Strategies That Are Working for Retailers

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design