TRENDING TOPICS
Fashion from Far Afield
The upcoming arrival of Dublin’s fast-fashion retailer Primark to U.S. shores is just one example of retailers expanding from less expected locations (i.e., not Paris, Milan or London). Shoe brand FEIT has just opened its first boutique outside Australia in New York City’s Nolita — perhaps even more unusual in that Australian retailers tend to debut in Los Angeles because of its proximity. In fact, Australian footwear is making a real statement here, with Sneakerboy also coming to the city in SoHo. Korean designer Lie Sang Bong opened his first store outside Korea in the Meatpacking District. And a Chinese jewelry conglomerate, Lao Feng Xiang, has quietly debuted at 585 Fifth Ave. Of course we do have more traditional retailers — Moschino’s first U.S. boutique has opened in Los Angeles, and another store will come to SoHo.
Real World Relocations
A great retailer forced out of its home by rising rents (or evolving space needs) doesn’t necessarily go away forever — it often relocates to a better or more appropriate space nearby. In New York, Buccellati moved from East 57th Street to an even more prestigious location on Madison Avenue. The legendary Rizzoli bookstore was displaced from West 57th Street, to the dismay of bibliophiles around the world — but next month will reopen at 1133 Broadway. But much of its iconic infrastructure (including those 19th-century transoms) will return. In Los Angeles, Nordstrom is moving from Westside Pavilion to anchor Westfield Century City in 2017.
Return of the Megamall
Triple Five Corp.’s announcement that it plans to build the largest mall in the United States, American Dream Miami, is one sign that reports of the death of the enclosed mall are greatly exaggerated. According to reports, the $4 billion project will include a ski slope, water park, golf, bowling, rides, live-performance theater, Ferris Wheel, condos, hotels and retail. Taubman’s Mall of San Juan brings luxury retail to Puerto Rico — in an enclosed format. And of course Triple Five has promised many of the same features proposed for Miami at American Dream Meadowlands, which it acquired and is trying to redevelop so the long-delayed center can finally open in New Jersey. So don’t count out the tried-and-true formats — as long as they’re updated for today’s current retail tastes.
Foreign-Born Beauty
The great U.S. and European beauty brands continue to open new stores around New York and the United States — Cos Bar just came from California to New York, and expect Macy’s to expand bluemercury around the country, as Italy’s fragrance brand Byredo comes to the United States. But we’re also seeing a growing influx of brands from the Middle East and Asia. Infinite Beauty is an ultra luxury spa and skincare specialist that has come from Israel to the Upper East Side. Club Clio has come from Korea, first to Flushing, Queens, New York, and has now opened its first shop in Manhattan. Spa Castle Premier has recreated the Korean bathhouse experience with a location on East 57th Street. Another Korean brand, Skin Food, which has a unit in Flushing, could expand as well. On the more affordable side, Tony Moly has opened a store for its skincare and makeup here. Other brands, such as Soko Glam, have launched as an e-commerce site, but if recent history is any guide, could easily cross over to brick-and-mortar.
Faith Hope Consolo is Chairman, The Retail Group, for Douglas Elliman Real Estate. The “queen of retail” is known for her sharp eye on retail real estate trends.