NEW YORK — Michael Kors Holdings Ltd. is placing a new emphasis on its growing men’s wear business, with plans to dedicate an entire floor to men’s product in a trilevel SoHo flagship that will open at the end of the year. The men’s presentation will represent the first retail space dedicated to the full range of Michael Kors men’s wear.
The new store at 520 Broadway, which will displace a Club Monaco unit, will be the largest Michael Kors store in the world, at 17,000 square feet of total space. Men’s will be housed on the 5,000-square-foot concourse level. The 4,500-square-foot ground floor will offer the company’s cash cows of women’s accessories, footwear, jewelry, watches, eyewear and fragrance. Women’s ready-to-wear will be carried on the 5,000-square-foot second floor, including the world’s largest assortment of the better-priced Michael Michael Kors label. A basement level for storage rounds out the space.
“This is the first opportunity for us to present the men’s collection in a complete format, featuring tailored clothing, shirts, ties, sportswear and accessories, in one of our stores,” said John Idol, chief executive officer of Michael Kors Holdings Ltd. “We view adding men’s wear to our existing lifestyle store format as an opportunity to gauge the potential for an expansion of our retail concept. Retail is the key component of our overall growth strategy and we are [pleased] to incorporate our growing men’s wear business into that strategy.”
The new SoHo store will be more than twice the size of the Michael Kors flagship in Rockefeller Center, which at 7,165 square feet is currently the brand’s largest retail unit. In addition, Michael Kors operates five smaller stores in Manhattan, including two on Madison Avenue and units in the Flatiron District, Greenwich Village and SoHo.
The company will keep open the neighboring SoHo store at 101 Prince Street and elevate its positioning with a focus on Michael Kors Collection product.
Designer Michael Kors said of SoHo, “It is one of New York City’s most cosmopolitan neighborhoods, a hot spot for luxury tourism and the perfect location for our largest store in the world.”
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