In a story about how business in SoHo has been impacted since last September’s terrorist attacks on page 6, Wednesday, customers were characterized as being generally value-oriented. Comments from Caroline Banker, executive vice president of Insignia Douglas Elliman, may have implied that Chanel’s business, in particular, was suffering as a result.
This story first appeared in the September 13, 2002 issue of WWD. Subscribe Today.
However, Chanel, which has a store at 139 Spring Street in that lower Manhattan neighborhood, reports sales at that unit continue to be in excess of $1,000 a square foot, with 40 percent coming from ready-to-wear, according to Barbara Cirkva, executive vice president at the luxury goods firm.
“From the beginning, the boutique has attracted a new audience for Chanel fashion and has built a strong local and tourist business,” she said. “The traffic continues to increase, with the boutique receiving over 500 people a day on the weekends.” Chanel’s lease there runs through 2010.
The settlement between Donna Karan International and its shareholders that was approved by a federal judge this week confirmed the amount already paid to public shareholders was $243 million, but required no additional payment to shareholders. This was unclear in a brief on page 2, Thursday. In addition, Donna Karan is currently looking for a design director for its women’s collection. The position was incorrect in a fashion scoop on page 14, Thursday.