Saks will close all Club Libby Lu stores
Saks will close all their Club Libby Lu stores by May of next year. Saks Inc. acquired the specialty tween store back in 2003. There are 93 stores across the nation, and 1700 employees will lose their job. Saks Incorporated will now focus 100% on their core store Saks Fifth Avenue.
Saks Inc. said Wednesday it plans to shut down its Club Libby Lu specialty store business to focus on its core luxury brand Saks Fifth Avenue.
The Company expects all 93 Libby Lu locations to be closed by May.
The Company acquired Club Libby Lu in 2003 primarily as a growth vehicle and traffic driver for its Saks Department Store Group ("SDSG") business, which has since been sold. The Company currently operates 78 Club Libby Lu stand-alone stores in malls nationwide and 20 Club Libby Lu store-in-stores within former SDSG stores.
Steve Sadove, Chairman and Chief Executive Officer of Saks Incorporated, noted, "Club Libby Lu is an innovative concept that was a better strategic fit with our traditional department store business. Discontinuing the operations of Club Libby Lu is the appropriate decision so that we can focus 100% of our time and resources on executing the strategies of our core Saks Fifth Avenue business.
Saks Incorporated operates Saks Fifth Avenue, which consists of 53 Saks Fifth Avenue stores, 49 Saks Off 5th stores, and saks.com.
If you are not familiar with Club Libby Lu, it’s a store designed for girls 4-12 that focuses on giving girls a princess like experience while shopping.
Club Libby Lu offers products and experiences that promote a unique shopping experience that makes every girl feel special. Our staff (called Club Counselors), “Club” environment and merchandise mix provide the ultimate girl experience. Girls join the Club, where they become V.I.P.s (Very Important Princesses®) and enjoy a fun, safe and special place where they can unlock their inner princess!™