Luxury retailer Saks Inc. said Tuesday a Saks Fifth Avenue store will be opened in August 2012 in Kazakhstan.

Saks plans to license the store, which will be built in the city of Almaty. Financial terms were not disclosed.

The store will be three levels and 91,000 square feet (8,500 square meters).

Saks operates 46 Saks Fifth Avenue stores, 57 Saks Fifth Avenue Off 5TH outlet stores and saks.com. Saks Fifth Avenue also has licensed stores in Riyadh and Jeddah, Saudi Arabia; Dubai, United Arab Emirates; Mexico City, and Manama, Bahrain.

Its shares slipped 4 cents to $11.37 in morning trading.