NEW YORK — Redundancy is proving to be a good thing, at least for mall owners. Simon Property Group this week announced it would buy seven Federated Department Stores banners and kill the leases at two additional locations, which include four Macy’s, a Filene’s and two L.S. Ayres. The retailer that is replacing most of the duplicates is the infinitely more profitable Nordstrom’s, which will be added to Burlington Mall, South Shore Plaza, Northshore Mall, and Ross Park Mall.
As it aggressively sheds itself of its dead weight, which analysts say could bring in up to $1.2 billion, Federated is being a bit more tender in announcing changes to the Marshall Fields flagship in Chicago, where the idea of converting the venerated department store to a new Macy’s on State Street has been met with boos and hisses from Chicagoans with fond memories of the Walnut Room and holiday window displays. In order to sweeten the store’s conversion to Macy’s in September, Federated chief executive officer Terry Lundgren said he’d work with Chicago mayor Richard Daley to try to bring Frango Mints back to Chicago.
While Lundgren looks to little chocolate squares to keep his shoppers happy, Urban Retail Properties chairman and ceo Ross Glickman is going whole hog on the shopping-entertainment front. The developer has plans to develop at least six mixed-use projects in the U.S., South Korea and China in partnership with MGM Studios, with, for example, a Pink Panther-themed theater or Rocky sports bar next to The Gap and Ann Taylor. Perhaps the entertainment-shopping niche left vacant by The Mills Corp. has a new developer at the helm?
Speaking of new developers — Indianapolis-based Duke Realty Corp., a major player in the office and industrial real estate world, is entering the retail development world with gusto, announcing plans to develop $350 million in lifestyle centers in a joint venture with Jeffrey R. Anderson Real Estate Inc. The partnership intends to build four centers, with the first, the 330,000-square-foot Shoppes at Montage in Scranton, Penn., slated to open in March 2007 and the second project, the 400,000-square-foot Shops at Pembroke Gardens in Pembroke Pines, Fla., scheduled to break ground in August. For a detailed look at the headlines discussed above, see the following archived articles:
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
@ferragamo is introducing a new space dedicated to the development of women’s and men’s leather good samples. The laboratory, which is created eco-friendly materials and designed to reduce the environmental impact of the manufacturing processes, will allow the company to expand its accessories offering through traditional artisanal approaches. #wwdfashion (📷: @aitorrosasphoto)
How does a “regular, degular, schmegular” girl from the Bronx, N.Y., become a Grammy-nominated artist with a certified platinum record in less than a year? Call it the @iamcardib come up. The 25-year-old has become a musical sensation, and the fashion world is taking note. “If I could describe her style I would say drama. She’s really into the dramatics,” says Cardi B’s stylist @kollincarter. See how Carter styles her bold and out there looks with the link in bio. #wwdfashion
“There is no formula. There is no guideline. I can watch Ted Talks all day, but there is no one who can advise me on exactly what it is I should be doing,” said @ronniefieg, CEO of @kith, in an interview with WWD’s @ariahughes at the brand’s new SoHo office in Manhattan. Head to WWD.com to see how Fieg went from hanging out in shoe stockrooms at 13 to building his own business. #wwdfashion (📷: @weston.wells)
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion