The New York–based contemporary label opened the doors of its first freestanding store on Dec. 4 in the trendy Meatpacking District here. Located at 678 Hudson Street, the boutique offers a full range of Adam’s men’s and women’s sportswear collections and underwear basics, as well as a sprinkling of furniture, books, jewelry, collectibles and lifestyle items like Hotel Costes candles.
“I wanted the store to feel like home—very comfortable and cozy, with lots of places to sit,” said Adam Lippes, the former creative director of Oscar de la Renta who founded Adam in 2004. “One of my real passions is art, so we have a lot of photography on the walls. And the cash wrap is a big, bronze rectangle that resembles a Donald Judd sculpture.”
Housed in a single-story building that was previously a dog spa—and a stone’s throw from the always-packed Apple store—the boutique has about 2,500 square feet of selling space on the ground level and an equal amount of storage space on a lower level. The company is using the storage space as a shipping facility for its e-commerce site at ShopAdam.com, which was completely redesigned and relaunched last month.
The boutique was designed by Filipe Pereira, a young architect who trained with Peter Marino and Zaha Hadid. It is sleek and modern, but filled with eclectic furnishings—such as a Michael Thonet bench, a 1940s steel printers rack, and an inviting daybed—that also serve as merchandising fixtures or places for mannequins to flaunt their wares.
Flooring is divided between Inca Gray stone and crosscut wood in chocolate brown. Hanging on the rear wall are ornate plaster panels with carvings of ivy and griffins, which contrast compellingly with the contemporary attitude of the space.
An amusing focal point for shoppers entering the store is a metal sculpture that spells out “What would Oprah say?” Created by South African artist Brett Murray, the artwork was snapped up by Lippes after his appearances on Oprah Winfrey’s chat fest gave a huge boost to his business.
Lippes is aiming for sales of $2 million next year at the store, with about 35 percent of sales coming from men’s wear. Prices for the men’s collection range from $40 for a T-shirt to $795 for a wool/cashmere coat with genuine mink collar (which was the very first item sold on opening day).
According to Faith Hope Consolo, chairman of the retail sales and leasing division of Prudential Douglas Elliman, the store was leased for $300 a square foot for the ground level. Consolo did not work on the deal.
The Adam brand is sold in about 250 wholesale doors, including Neiman Marcus, Saks Fifth Avenue, Bergdorf Goodman, Jeffrey and Scoop. The company should ring up about $15 million in total sales next year, according to Lippes, and is aiming to open additional stores in Miami, L.A. and London.
The company received significant financial backing earlier this year from a new investment vehicle called The Atelier Fund, whose principal investor is Compagnie Financière Richemont, which owns Cartier, Montblanc and Dunhill, among other luxury brands. The fund acquired 33 percent of Adam for a reported $9.5 million.
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