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.”
“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