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.”
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
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@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)