NEW YORK — Joseph Altuzarra is unveiling a new 1,200-square-foot store at 959 Madison Avenue, joining his other boutique at 2 Main Street in East Hampton, New York.
Designed by Matthew Fisher in collaboration with Altuzarra, the Madison Avenue store, which officially opens Tuesday, embodies a clean gallery feel with warm organic touches, including a custom wood window display, custom organic floating wood shelving and wrought iron racks.
“We have had a store on Madison Avenue for over three years, and over that time we have built a wonderful community of customers and fans for the brand,” said Shira Sue Carmi, chief executive officer of Altuzarra. “When our lease was coming to an end in early 2022, it was clear we wanted to find a long-term home, which we did at this location between 75th and 76th Streets.”
She said the Altuzarra woman lives and/or shops on the Upper East Side so she’s pleased to have this new destination for her.
Carmi noted that the company looks to open one to two more stores a year in the next three to five years.
The store features an art collection, including two sculptural pieces in Naxos Green marble designed by Fisher to create an earthy yet contemporary feel. “Console 1” in Naxos Green was commissioned for the new space and serves as the centerpiece table with its carved oversize top surface that cantilevers over two column-like legs. Highlighting natural stone, the main fixture was carved from four joined pieces of Italian alabaster, drawing inspiration from the art of handwork seen throughout Altuzarra’s collections.
The store houses the designer’s ready-to-wear, leather goods and home collections, as well as limited-edition collaborations and special products. These include knit sequin pieces for holiday, wool check tailoring and an exclusive tortoise print in special silk blouses and dresses. Home items include hand woven placemats, coasters and baskets as well as luxe alpaca blankets and pillows.
The new boutique will offer private appointments, curbside pickup and custom tailoring and alterations.
Apparel is showcased throughout the store. A custom wood curved organic shelving unit on the back wall hosts the majority of accessories and home, and there are table displays throughout the space.
Prices range from $395 for the ‘Watermill’ crossbody to $4,995 for the ‘Astralle’ coat.
Altuzarra said he anticipates that bestsellers will include their mini braid bag in a selection of bright colors, their exclusive sequin and patterned knits for holiday as well as their hand-dyed shibori pieces from the fall runway collection.
While the store is one level, it is a combination of two separate storefronts that were melded into one space.
Asked about first-year expectations, Carmi said, “The store is expected to match and exceed the performance of our previous Madison boutique, and achieve profitability within its first year.”
Carmi said the brand is the strongest in New York, followed by California (Los Angeles and San Francisco), its second-largest market. “Miami and Florida overall are very strong, and we have a major following in Dallas, Chicago, Aspen and D.C.,” she said.
Overall, she said business was “very strong.”
“Since the pandemic, we have had two years of impressive growth, and 2022 is poised to be the best year in the history of the company,” Carmi said. “More so, our direct business is currently 35 percent of our overall business, up from less than 10 percent before the pandemic, with tremendous growth in e-commerce and a profitable retail business.”
She said the store will feature two large collections a year — spring and fall — each one comprising three deliveries. In addition, it will offer two annual exclusive capsules for the direct-to-consumer business, usually around October and April.
She said the home category is exclusive to its retail business and is still quite small. “We design two collections per year [summer and holiday] in collaboration with talented artisans that we have found through our work at Altuzarra. It is extremely special, handmade products and you have to visit our stores to see it.”