SPACE RACE: Annick Goutal has signed a lease for its second U.S. store, a 700-square-foot unit at 955 Madison Avenue at 75th Street. It follows a store on Bleecker Street in the West Village that bowed last summer.
Annick Goutal, which is owned by Korean beauty giant Amore Pacific, sells fragrances for men and women, scented products for the home, bath oils, creams, soaps and a skincare line.
Saks Fifth Avenue, Bergdorf Goodman, Henri Bendel and Bloomingdale’s are among the retailers that carry the brand in Manhattan. The French perfumer is known for its gold-topped oval glass fragrance bottles decorated with ribbon and a gold emblem and round glass bottles with stoppers in the shape of butterflies.
Luxury brands long considered upper Madison Avenue – above 72nd Street – less desirable than the prime stretch between East 60th Street and East 72nd Street, but in recent years designers such as Carolina Herrera and Vera Wang have moved north, where the rents are less expensive. Madison Avenue has always been more of a neighborhood shopping street than Fifth Avenue, which attracts more tourists. With new high-priced condominiums being built uptown, the demographics of the area are changing.
Jason Pruger, who with Aaron Cukier of Newmark Grubb Knight Frank, and Maria Marra of Maria Mara Consultants, represented Annick Goutal, noted that Apple’s plans to open a store on Madison Avenue near 74th Street, has done a lot to burnish the neighborhood. “A lot more retailers want to be there,” said Pruger. “Christian Louboutin is at 967 Madison Avenue. It never would have happened before, but Madison’s expanded to 79th Street and in some cases 86th Street.”