The latest installment of the Saks Shops Greenwich is open for business.

The Vault, serving as the brand’s “majestic home of the world’s most exclusive jewelry,” is open as of May 4 at 200 Greenwich Ave.

It joins The Collective, featuring contemporary fashions, across from Saks main store. A short walk away, Saks first store just for shoes, 10022-SHOE, opened in October.

The Vault held a private preview party on May 3 with live music, passed champagne and a sneak peek at the impressive jewelry on sale, including some exclusive brands to the Greenwich market like Amsterdam Sauer, Anita Ko and Noor Fares.

Some specialty pieces include De Grisogono diamond earrings for $2,571,500, a Bulgari serpent bracelet for $99,000 and a blue Vhernier necklace for $175,600.

The Vault is the only Saks store dedicated solely to fine jewelry. It features jewelry viewing rooms,  jewelry design, repair and cleaning and complimentary delivery of purchases

With its 61,500 square feet of space downtown within a two-minute walk, Saks has become the largest retailer in Greenwich’s main business corridor. But the brand’s investment in its Greenwich properties won’t be completed until later this fall, when the main store is set to complete a round of renovations.

The store openings are part of the company’s efforts to broaden its metro New York City footprint, Saks Fifth Avenue President Marc Metrick told Hearst Connecticut Media last fall.

“Greenwich is one of our most productive stores on a sales-per-square-foot basis,” he said at the opening of 10022-SHOE.

The February opening of The Collective arrived amid news of many large brands, such as Aeropostale, Macy’s and Sears, shuttering stores. Regardless, Metrick voiced optimism about his company’s future during an interview.

“Department stores aren’t dying,” Metrick said. “Bad ones are.”

Even with the large growth of Saks within Greenwich’s downtown area, the brand hadn’t seen a slowdown in sales as of February, he added.

With small being “the new big,” as Metrick said, Saks’ slate of boutique Greenwich shops aims to encourage shoppers to take advantage of the brand’s diverse offerings without the big box-store atmosphere.

mbennett@greenwichtime.com