High-End Retailer Saks Fifth Avenue Abandons Casino Venture, Now Pursuing Partnership with Costco Instead
May 23, 2025, 12:19h - May 26, 2025, 12:06h
Luxury retailer Saks Fifth Avenue might soon extend its reach to wholesale giant Costco, carrying its men's apparel. The potential partnership has not been confirmed by either company, but industry insiders have suggested the possibility.
Saks, which recently abandoned plans for a high-end casino in its New York City flagship store, is instead focusing on different strategic priorities. One such priority could be a retail partnership with Costco. Lisa Lockwood of Women's Wear Daily first reported the rumors.
Saks' men's apparel is currently licensed to Centric Brands, a global lifestyle brand known for product design, development, sourcing, retail, and digital commerce, among other services. Centric also manages Caterpillar and IZOD labels carried by Costco. Centric Brands declined to comment on the possible collaboration.
Since 2024, Saks Global—which includes Saks Fifth Avenue—has been part of the Authentic Luxury Group, a joint venture with Authentic Brands Group. Authentic is also reportedly in talks with Centric Brands to collaborate on running the Dockers brand. It is unclear if this partnership might influence the potential Saks-Costco tie-up.
In January 2023, Saks announced plans to transform part of its department store in Midtown Manhattan into a high-end casino, but abandoned the project in May 2025. The casino project faced stiff competition for one of the three available downstate New York casino licenses, each associated with a one-time $500 million fee.
Saks, Costco, Centric Brands, and Authentic Brands Group did not reply to requests for comment regarding the potential partnership.
(Enrichment Data: The potential partnership between Saks Fifth Avenue and Costco could be a strategic move by Saks Global following the aborted casino project. The collaboration, if it happens, is likely to involve Centric Brands, the licensee of Saks' men's apparel, and could potentially evolve into a broader partnership due to Saks' participation in the Authentic Luxury Group.)
- The potential partnership between luxury retailer Saks Fifth Avenue and wholesale giant Costco involves Saks possibly carrying Costco's men's apparel.
- Saks Fifth Avenue, based in New York City, is considering a retail partnership with Costco as one of its strategic priorities, following the abandonment of plans for a high-end casino in its flagship store.
- Centric Brands, a global lifestyle brand, currently licenses Saks' men's apparel and also manages Caterpillar and IZOD labels carried by Costco, but has declined to comment on the potential collaboration with Saks and Costco.
- Authentic Brands Group, with which Saks Global is a joint venture, is reportedly in talks with Centric Brands to collaborate on running the Dockers brand, raising questions about the potential influence on the Saks-Costco tie-up.
- In 2025, Saks announced the abandonment of plans to transform part of its department store in Midtown Manhattan into a high-end casino due to stiff competition for one of the three available downstate New York casino licenses.
- The potential collaboration between Saks, Costco, Centric Brands, and Authentic Brands Group would fit into the retail, fashion-and-beauty, and business industries, especially considering the strategic focus of Saks and the involvement of Centric Brands in the finance and industry sectors.
- The possible partnership between Saks Fifth Avenue and Costco could be a significant move in the fashion, retail, and lifestyle industries, potentially evolving into a broader partnership due to Saks' participation in the Authentic Luxury Group.
