Saturday, January 22, 2011

More Musical Chairs on Madison Avenue

Its been a cold winter so far but according to Wall Street the retail season has been a hit and sales have never been better. The concept of "on sale all the time" for the holidays still held on, but on Madison Avenue the carnage still continues.

Of note the Dior boutique on 71st and Madison has closed up and due to the re-opening of their flagship on 57th Street this was a no brainer. As to who's going to move in has not been established. Its a 2 floor space so out money is on a deep pocket fashion house.

The next victim to fall is Kieselstein-Cord which was located on 81st and Madison Ave. From what we could see this was a Palm Beach customer and a design house who "did their own thing". Stopping in the store during the holiday season was an abundance of accessories bags, sunglasses, belts etc. This designer might not be on the lips of your average fashionista but was well known for custom work and high prices.  To spend $5K on a bag could yield you a field day at Gucci! As for a relocation space Kieselstein-Cord might not make it back into the retail race on Madison Ave.

The shining beacon who has moved into Madison Avenue is Warren-Tricomi salon. This by far is one of the smartest and most needed additions to the neighborhood. Our radar screen indicates a reduced rent due to the economic climate and a long lease at least 10 years. This is the first major salon to establish themselves on Madison Ave since Revlon in the 1970's. Rest assured Warren-Tricomi will be doing gangbuster business and appointments should be made months in advance. This is a dream location for the society girls!

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