NEW YORK — True Religion Brand Jeans will bring some casualwear to the land of the suit. The denim manufacturer and retailer said it will open in October a store with 1,700 square feet of space on two levels at 14 Wall Street, between Broadway and Broad Street, in the Financial District here.
In addition, sources said True Religion will open a unit on Broadway near Union Square on July 31. As reported, the company will unveil a 1,850-square-foot unit at The Shops at Columbus Circle at the Time Warner Center on July 2.
In the last three to five years, Wall Street has been touted as the next hot retail frontier by real estate brokers and developers eager to attract national brands and luxury tenants in the wake of 9/11.
Hermès and Thomas Pink opened in the past year. More recently, Tiffany & Co., Canali and Tumi unveiled stores.
"There's tremendous momentum," said Darrell Rubens, managing director of Winnick Realty, who represented the property owner. "I've been focusing on Wall Street and Broad Street for the last five years. We've pretty much filled up all of Wall Street and are now expanding on Broad Street and a couple of other streets. [For spaces] on Wall Street, we won't even look at someone unless they're a Fifth Avenue retailer or a great SoHo tenant."
Rubens maintained that "a lot of tenants are looking downtown and there's a lot of buzz. We're now hearing that Apple and Barneys New York are looking downtown."
The asking rent of $700 a square foot for the True Religion space also might be an indication of the Financial District's relative health. Brokers said asking rents have been in the vicinity of $400 a square foot.
The reason retailers are keen on Wall Street has to do with the area's demographics, both residents and office workers. Since 2003, the number of residents living south of Chambers Street has doubled to 58,000, according to the Downtown Alliance. Household income since 2004 has nearly doubled as well, to $163,000, one of the highest in the city. With more than 300,000 workers in the Financial District and the occupancy rate for office space running at about 96 percent leased, the population is dense.New restaurants and hotels are coming to the area including Haru, Bobby Van's and Capitol Grill. "Nobu just signed a lease at 45 Broad Street for a hotel and restaurant," Rubens said. "The Setai from South Beach, Fla., is opening a restaurant, private club and condominium residences at 40 Broad Street. The W and Starwood Hotels are under construction downtown and a Global Hyatt Hotel is under construction."
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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