RINASCENTE’S NEW LOCALE: La Rinascente owner Central Retail Corp. has acquired a building covering 189,000 square feet of commercial space in Rome’s central Via del Tritone, which will house a new flagship. Talks about the new venue had been circulating for years, but the project never materialized. The acquisition “confirms CRC’s will, announced a year ago [when the giant Thai group took control of the chain], to expand, reposition and develop the Italian banner. This is a unique opportunity for La Rinascente and for Rome,” said the company. Opening in Italy’s capital was a fundamental objective for CRC, concluded the company.
Last month, the Milan flagship unveiled the revamped fourth story, displaying top designer brands at the venue’s women’s wear floor for the first time, which marked the last step in La Rinascente’s overhaul, a project initiated and spearheaded by former chief executive officer Vittorio Radice, newly minted vice chairman under the store’s new owner.
This story first appeared in the August 10, 2012 issue of WWD. Subscribe Today.