Somerset Collection is developed, managed, and co-owned by The Forbes Company,[1] and is among the most profitable malls in the United States not owned by a real estate investment trust.

[3] On April 14, 1967,[4] Saks Fifth Avenue opened a 70,000 sq ft (6,500 m2)[5] stand-alone store on Big Beaver Road in Troy, an affluent suburb 20 miles northwest of downtown Detroit.

A one-floor upscale "Somerset Mall" designed by Louis G. Redstone Associates, was built onto the existing Saks, with a new Bonwit Teller store as the other anchor.

In 1991-1992 the center was renamed Somerset Collection, a second level was added, and Neiman Marcus opened a 141,000-sq-ft store on the site of the razed Bonwit Teller.

Michigan's first Nordstrom and a Hudson's (became Marshall Field's and finally Macy's) anchored the three-story expansion, named Somerset North.

In December 2009, the Forbes Company acquired an adjacent site on which an open-air mixed-use development known as the Pavilions of Troy was proposed.

[13] In 2012, calling it “strategic capital investments”, Saks renovated its store after it identified the Somerset location as having “high growth potential”.

[16] By 2023, since the government lockdown, Somerset Collection has added several newest additions, among them are Prada, Vuori, Gucci Men's Store, Moncler, Balenciaga, Breitling, Fabletics, Hermès, Diptyque, and Dior.