Luxury department store chain Saks Fifth Avenue has officially opened its first Canadian location in downtown Toronto.

Saks hosted an elaborate ribbon-cutting ceremony on Thursday morning, before formally welcoming customers into the store for the very first time. The long anticipated store is located within the Hudson’s Bay Company’s flagship Queen Street West store (at Yonge and Queen Street West), which Hudson’s Bay governor and executive chairman Richard Baker called “one of the greatest buildings in all of North America.”

Thursday’s opening ceremony will be followed by the opening of a second Canadian location at Sherway Gardens in Etobicoke on Thursday February 25. What's up next for Saks? 5 more Canadian stores are expected to open in other cities across the country in the months and years to follow.

Happy shopping.