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Saks Incorporated is an American-based luxury retail and department store company, founded in 1919 by Andrew Saks. It has grown to become one of the premier luxury retailers in the United States with over 40 stores located across 22 states, as well as its e-commerce websites. Initially named “Andrew Saks & Co”, the company opened its first store on New York City's Sixth Avenue in 1902 and was later renamed “Saks Fifth Avenue”. The flagship store remains a popular tourist destination for shopping, dining, and entertainment. In 1923, Horace Saks and Bernard Gimbel established another location in Philadelphia which became known as “Gimbel Brothers - Saks Fifth Avenue”. The chain continued to expand throughout the 20th century and acquired other brands such as Proffitt’s/McRae’s (1998), Younkers (2005) and Lord & Taylor (2006). Today, Saks Incorporated is owned by Hudson's Bay Company after they purchased it from Saks Holdings Inc in 2013 for $2.4 billion dollars.