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WeWork, Hudson’s Bay Will Bring Co-Working Spaces to Retail Stores
WeWork is partnering with Saks Fifth Avenue owner Hudson’s Bay Co. to open co-working spaces in current and former Saks retail stores, according to published reports. To be known as SaksWorks, the first locations will open next month at Saks locations in Manhattan, Scarsdale and Manhasset, NY and Greenwich, CT.
“Saks Fifth Avenue has long been associated with style and hospitality,” said Hudson’s Bay executive chairman Richard Baker. “With SaksWorks, we extend this legacy to flexible work, using the powerful brand equity that Saks has built over its 154-year history to meet the moment of hybrid work.”
At WeWork, CEO Sandeep Mathrani said, “There is significant untapped potential for third-party usage of WeWork’s proprietary workplace management technology, which, for a decade, has powered how we operate, manage and sell our spaces.” The partnership represents the first step toward providing “a differentiated approach to how landlords can incorporate flexible space across their portfolio.”
- ◦Lease
