DALLAS — Stanley Korshak is pumping up the volume in shoes and handbags.
Reflecting continued strength in the accessories sector, the luxury retailer based here is more than doubling the size of its shoes and handbag department.
“We’ve been talking about doing this for a long time, and these businesses have had phenomenal growth in the last six months — in the high single digits,” said Crawford Brock, owner and president. “I think the business will see strong double-digit growth through the season. Our inventory buy is up substantially in both shoes and bags.”
He expects shoe volume to grow by 40 percent and bags to jump more than 20 percent at the store, which is on track to reach sales of about $30 million this year.
The company is still putting finishing touches on the department, which has a comfortable atmosphere, with tufted brocade chairs, a gold-and-black striped day bed, an iron chandelier and textured stone gray carpeting. It has been extended into a 1,200-square-foot area that formerly housed home furnishings and gifts. The official launch will be at an Aug. 14 party linked with the Cattle Barons Ball charity and Paper City, an upscale Dallas lifestyle magazine.
“The hard home furnishings that were in the new shoe space were high-margin but low-turn, and the shoe and bag business is high-margin and high-turn,” Brock said.
Korshak plans to merchandise bags among shoes in the new space, creating visual stories for its top-performing brands, including Oscar de la Renta, Bottega Veneta and Renaud Pellegrino. In addition, the company has picked up Roberta Di Camerino and Marc Jacobs handbags, as well as Alexandra Neel and Gina shoes for fall. Korshak, which is considered to be a destination for chic footwear, counts Christian Louboutin, Jimmy Choo, Valentino and Rene Caovilla among its top labels. The store also has an adjacent in-store boutique for handbags from Lambertson Truex.
The expanded space is also the new home for sunglasses, while hair accessories, wraps and scarves have been added to the original shoe salon, which faces the new shoe area. These moves freed up space in the adjacent jewelry department, enabling it to add 24 linear feet of cases, noted Rose Clark, general merchandise manager. The extra space is devoted to developing its watch business, which Korshak entered last fall, and expanding its stable of high-end and trendy jewelry, said buyer Melissa Geiser.“We picked up Tony Duquette, so we’ll be his only location outside Bergdorf’s, and a brand new designer…Jack Vartanian, who is Brazilian,” Geiser said. “I also added Miguel Ases, a trend collection, and jewelry from a young woman named Amarita, who is from India and does chandeliers and things that look just like old Indian jewelry.”
Korshak’s longtime top jewelry designers are Loree Rodkin, Erica Courtney, Cathy Carmendy, and Yossi Harari, while watch offerings include Hermès and Delaneau, as well as vintage Rolex.
Korshak will continue selling high-end home goods, but has moved some product to an adjacent home department and shifted the gift registry to its nearby bridal boutique. Brock said, “We anticipate that the shoe and bag business will more than double the volume that was in that space.”
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