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Gant USA has inked a lease for a new NoLIta shop in New York, located at 25 Prince Street. The 1,000-square-foot unit will house the men’s Gant Rugger brand as well as Gant by Michael Bastian product, and is slated to open in July. It will be Gant’s fourth U.S. store.
This story first appeared in the March 31, 2011 issue of WWD. Subscribe Today.
“We’ve looked for the perfect space for another New York store for eight months, going as far away as Williamsburg,” said Ari Hoffman, chief executive officer of Gant USA. “This new shop is based on the success of our Bleecker Street store and the notion of a real neighborhood shop.”
Hoffman expects the Prince Street location to ring up sales in excess of $1,000 a square foot. The Bleecker Street location, which sells Gant Rugger, is currently posting sales in excess of $1,600 a square foot. “It has outpaced our projections by far,” said Hoffman.
The new store was previously occupied by a Selima Optique boutique. It will be designed with exposed brick, reclaimed wood flooring and vintage industrial fixtures from shuttered industrial New England manufacturing facilities. It will join the two Gant stores in New York and another in New Haven, Conn.
“We are looking at additional locations in the Northeast,” said Hoffman of the brand’s ongoing retail expansion plans.
The company will launch its U.S. e-commerce business in mid-April at gant.com. The platform, developed by New York-based Code and Theory, will serve as the model for e-commerce sites in Gant’s international markets. Currently, the brand operates e-commerce sites in Sweden and the U.K.
Stockholm-based Gant is privately held by Switzerland-based Maus Frères SA, which also owns Devanlay SA, the worldwide apparel and accessories licensee for Lacoste.