Saks Fifth Avenue is an American luxury department store owned by the oldest commercial corporation in North America, the Hudson's Bay Company. Its main flagship store is located on Fifth Avenue in Midtown Manhattan, New York City. Starting in 2015 Saks began a $250 million, three-year restoration of its Fifth Avenue flagship store.[23] In the summer of 2015, it was announced that Saks will debut a new location in Greenwich, Connecticut.[24][25] In the fall of 2015, Saks was planning to replace its existing store at the Houston Galleria with a new store.[26][27]