LONDON — Now that it has new owners, British luxury brand Asprey is moving to right its ship.
The company, which was acquired by financial investors earlier this year, said in a statement Tuesday it plans to move its Manhattan unit to a temporary location at 50 East 57th Street at the end of June. Next year, it plans to move to a permanent site on Madison Avenue, although a company spokeswoman declined to give further details. The announcement is Asprey's first since the new owners took over in March.
The new, permanent site on Madison Avenue will be smaller than Asprey's grand, money-losing location at 723 Fifth Avenue in the Trump Tower between 56th and 57th Streets. That flagship boasted 20,000 square feet over three floors — too much space to justify the traffic.
The statement added that Asprey's new owners and management would continue with the brand's international roll-out that started four years ago. Asprey's sales were $45 million in the fiscal year ending in March.
Asprey's points of sale number 14, and the plan is to boost that number to 40 in the next five years. At the end of April, Asprey opened a shop in the DFS Waikiki downtown store.
The statement said the brand expects to open in prestigious malls and department stores throughout the U.S.
Worldwide, over the next year, stores are expected to open in St. Moritz, Hong Kong, Singapore, Shanghai, Seoul, South Korea, Tokyo, Moscow and Guam.
After a costly relaunch, Asprey's former owners and shareholders of reference, Lawrence Stroll and Silas Chou, sold the Asprey and Garrard brands to Sciens Capital Management LLD and Plainfield Asset Management LLC for between $80 million and $100 million.
Three days after the sale, earlier this year, Asprey International, the newly minted parent of both brands, spun off Garrard to Ron Burkle's Yucaipa Companies for $20 million to $30 million.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast