Executives at Yves Saint Laurent Rive Gauche confirmed Wednesday it has signed a lease for a 3,600-square-foot space at 326 North Rodeo Drive, with plans to more than double the unit’s size to approximately 8,400 square feet through an addition to the building.
Real estate sources said the luxury firm signed the lease last month.
Representatives at the Gucci Group division confirmed the company is making its way through the Beverly Hills planning commission process to expand the former Bernini Sport store.
The new YSL door is expected to be two stories, with the top floor a dedicated VIP room. An opening date has not been set, but construction is expected to be completed during the first half of 2003.
After months of searching, YSL chose a prime spot. The unit is a block north of Wilshire Boulevard, directly across the street from Gucci, Prada and Giorgio Beverly Hills. It’s flanked by two jewelry stores — Chopard, slated to open this year, and David Orgell.
The design concept will closely follow that of the New York flagship at 855 Madison Avenue, according to the company. That store was designed by YSL’s creative director Tom Ford and architect William Sofield. Its standout features include black lacquered walls, raw concrete floors and hunks of polished coal turned into display tables.
All YSL product categories will be stocked in Beverly Hills, including women’s ready-to-wear, fragrance, beauty, timepieces, sunglasses and men’s wear.
While the Beverly Hills store will be sizable, it is the exception, not the rule, that luxury firms seek large spaces on Rodeo Drive these days, according to Chuck Dembo, a partner at Dembo & Associates, the retail specialty leasing firm that facilitated the YSL deal.
Dembo said Coogi Australia, the high-end sweater maker, recently bowed out of taking the 20,000-square-foot former Tommy Hilfiger space that’s been vacant since February 2001.
"I think [large units] was the story a little while back," he said. "Now, a lot of companies aren’t looking for the monster stores. There’s an abundance of companies looking for 1,000 to 2,000-square- foot stores."Still, sources expect the YSL unit to do well with projected sales of between $700 and $800 per square foot annually, or $6 to $7 million.
This is YSL’s fourth store on the West Coast, following locations in Las Vegas, San Francisco and Costa Mesa, Calif.
As reported, Gucci Group chairman and chief executive officer Domenico De Sole is taking YSL’s number of directly operated stores from 43 to more than 50 worldwide. The Beverly Hills store will be the ninth in the U.S. by next year.
"I believe this brand can become as strong as Gucci," De Sole told WWD in March.
Donatella Versace will receive the International Award at the 2018 @cfda awards, which were announced tonight. Tap link in bio for a list of all the nominees and honorees. #wwdnews #wwdfashion (📷: @rahirezvanistudio )
The 2018 @cfda Awards nominees are out! @virgilabloh for @off____white for is nominated for Womenswear Designer of the Year. Tap link in bio for all the nominees. #wwdnews #wwdfashion ( 📷: @simonelezzi)
@chanelofficial is suing high-end vintage retailer @whatgoesaroundnyc for trademark infringement, a move that could cost the retailer millions. The French fashion house claims that it’s not only unintentionally sold counterfeit goods on occasion, but that it’s “gone out of its way to create an association with Chanel,” which does not exist. Read Chanel’s statement on WWD.com #wwdnews (@aitorrosasphoto)
Exclusive: Guillaume Henry has left @ninaricci, the fashion house said on Thursday. “After three years of mutually gratifying creative collaboration, Nina Ricci and Guillaume Henry have together decided that the designer will depart the house after the presentation of the fall-winter 2018-19 collection,” Ricci said in a statement. Get all the details on WWD.com #wwdfashion (📷: @aitorrosasphoto)
“When Bella enters a room all heads turn,” said @peterphilipsmakeup, creative and image director for @diormakeup. Last night, the two celebrated the product launch of Dior’s Lacquer Plump in Los Angeles with other celebs like @parisjackson, @winnieharlow and more. Head to WWD.com to see the rest of the photos from the night (📷: @chelsealaurenla) #wwdeye
“These shirts are an art form, it’s about getting the message out to as many people as you can. It breaks down the pretentiousness of the art gallery,” says Kumasi Sadiki, cofounder of @ebayontheblock, a store that sells merchandise by New York artists who are shifting their attention to clothes as a wearable medium. Pictured here is a design by artist @joegarvey_, one of the first to spearhead this movement. Head to WWD.com to read @mistywhitesidell full story on how their designs have become merch for the underground elite #wwdfashion
@netaporter is dedicating a part of its website – called the Fine Jewelry and Watch Destination – to highlight its high-end jewelry. The hub will feature products on the site, as well as incorporate styling advice and educational content about high-priced jewelry items. Get more details on WWD.com. #wwdaccessories
For “The Cher Show,” an upcoming musical based on @cher’s life and career, @bobmackie is once again collaborating with the singer in designing the costumes. For decades, Mackie has designed glitzy stage costumes and red carpet looks for the 71-year-old Grammy winner. Pictured here is a sketch of some of the pieces in the wardrobe of the musical, which is set to debut in Chicago on June 12 before making its way to Broadway #wwdeye