Saks recently announced that they will be partnering with WeWork
WeWork will run the operations behind 5 initial SaxWorks locations across the NYC area. One of the locations for SaxWorks will be the iconic Fifth Ave flagship store. This is the first time We Work has operated locations under another brands name. These locatison will be operational in September of '21.
The WeWork partner ship with Sax came a day after WeWork and Cushman & Wakefield announced that they are partnering up to help landlords and businesses create flexible space for tenants and employees using WeWork's proprietary management software. Cushman is in talks of investing up to 150 million into WeWork.
The move forward for WeWork seems to be licensing its technology driven workplace management platform as well as providing a turnkey access to the somewhat established WeWork customer base.
It will be interesting to see if Cushman invests a substantial amount into WeWork. Ive been bearish on WeWork since they've entered the scene. This may be too simplistic of a view point but with $150 million couldn't cushman build a competing workplace management software and build a customer base while avoiding all of the liabilities that will continue to follow WeWork?
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