NEW YORK — Michael Kors has signed a 1,700-square-foot lease at Brookfield Place, formerly known as The World Financial Center, a spokeswoman for the designer said Friday.
The store will be devoted to accessories, the spokeswoman added. “They want to make it a little jewel box,” said Edward Hogan, national director of retail leasing for Brookfield Place, which is undergoing a $250 million renovation.
Brookfield Place’s retail property, which is slated to open in June 2014, will have a Fifth Avenue-like streetscape facing the 9/11 Memorial that will be several blocks long. The Westfield Group in May signed a deal with the Port Authority to develop, lease and operate 365,000 square feet of retail space at 4 World Trade Center and 3 World Trade Center, which is also under construction. Shopping is spread across three above-ground levels and two below.
“They’re to some degree vying for the same tenants right now,” said Richard Hodos, executive vice president of CBRE. “Eventually, the dust will settle and some brands will go to Brookfield and some to Westfield. Both projects will ultimately be successful.”
Brookfield is hoping that the Kors deal sets the tone for the project. Hogan said, “There’s still strong interest from every national and international retailer in what opportunities are available in lower Manhattan. Retailers always want to find like brands and adjacencies with similar quality tenants.”
Lower Manhattan’s demographics have changed favorably since 9/11. “Before 9/11, there were 30,000 residents living south of Chambers Street,” Hogan said. “That’s doubled to 60,000 residents. The average household income at Battery Park City is $140,000.”
“Michael Kors will be exposed to high-end residences and changing office demographics that are becoming more equally balanced between male and female,” said Stephen Stephanou, a principal at Crown Retail Services.
“A decade ago, stores at the World Trade Center were doing $1,000 a square foot,” Hogan added. “Our stores will average $1,900 a square foot.”
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)