"We are trying to do here what we are able to do in Florence, which is present a complete image of the entire house of Ferragamo products," said Massimo Ferragamo, director of North American operations. He is the youngest of six Ferragamo siblings who run the company with their mother, Wanda Ferragamo.
What they are doing is bringing the separate men's and women's Fifth Avenue boutiques under one roof in Trump Tower. They will still be individual shops, across the atrium from each other, flanking the Fifth Avenue entrance to the glistening glass tower. The stores open Thursday.
Each shop has an entrance and windows on Fifth Avenue as well as in the Trump Tower atrium.
The two previous Ferragamo stores had a combined total of 4,200 square feet of sales space and 3,500 square feet of stock space. The new stores have a total 5,000 square feet of selling space and 4,500 square feet of stock room.
Volume is expected to exceed $20 million the first year, which is 30 percent better than the volume of the two previous units combined.
The move is part of a steady growth pattern that is methodically directed by the family of Salvatore Ferragamo, the shoemaker who founded the luxury products company bearing his name 67 years ago.
The sales areas of the new stores feature gray terrazzo flooring, black lacquer cases and beige or pink lacquer accents.
Pink and black rugs help define the departments, and cream leather seats create nooks in ready-to-wear and shoe areas. Family photographs complete the decor.
Ferragamo noted that business in the U.S. is strong -- about 40 percent ahead of where it was last year -- but added, "We would have made this move even if business were flat. Fifth Avenue and 57th Street is the nucleus of this town, and we feel it is important to be here."
Ferragamo said exposure to local and tourist traffic is good for the block.
"There are stores like Bergdorf Goodman, Tiffany, Cartier and Ferragamo, and others like Warner Bros., Levi's and Coca-Cola. We each cater to our own type of customer."
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