Tenoversix and its sister retail concept, Forty Five Ten, are poised for expansion.
Dallas-based Headington Cos., a privately held firm involved in private equity, film production, restaurants, hospitality and retail, has acquired Tenoversix, which focuses on directional and emerging designers such as Fabiana Pigna, Brother Vellies, Rodarte, Henrik Vibskov and Vanda Jacintho.
Forty Five Ten in 2014 was Headington’s first retail acquisition, and the company said it’s planning the “rapid expansion of our retail portfolio,” including additional physical locations for Tenoversix and Forty Five Ten, which in spring 2019 will unveil its first unit in Manhattan at the Shops and Restaurants at Hudson Yards.
Tenoversix, which operates a store at the Headington-owned Joule Hotel in downtown Dallas, is opening a unit in Miami in March. Kristen Cole on Tuesday was tapped by Headington as president and chief creative officer of Forty Five Ten. Cole and her husband, Joe, in 2008 founded Tenoversix, where she holds the same titles. She’ll continue to oversee both brands, assuming a dual leadership role.
Joe Cole won’t be involved with Tenoversix. “This is my gig,” Kristen Cole said. “Joe is a design and creative consultant for Headington Cos. He works on their hospitality side.
“We have more locations in mind and are pursuing other locations,” Cole said, declining to be specific. “We’re expanding into more locations and will offer both stores side-by-side.”
Headington Cos. is opening a 16,000-square-foot Forty Five Ten unit at Hudson Yards in spring 2019. “We’re not sure yet if we’ll open Tenoversix there,” Cole said. “Because these brands are going to be sitting side by side, we’d consider doing that.
“There’s a new point of view and new leadership regarding where we’re going with the brands,” Cole said. “They’ll be sister stores. More than one store [at Hudson Yards] is totally possible. I would definitely be interested in that. Maybe that’s how Tenoversix would fit into the New York equation.”
Cole also expressed interest in Manhattan’s Chelsea, saying, “the Chelsea area is very compelling to me, with the art crowd. I always wanted to open a store there.”
“The acquisition of Tenoversix is a natural step in our continuing growth,” said Michael Tregoning, president of Headington Cos. “The Coles will be a great addition to our soft-goods retail focus as expressed in both brands. Their experience as entrepreneurs will allow us to optimize the rapid growth of our retail portfolio over the next 18 months.”
Tenoversix operates six locations, including three full-line stores, on Main Street in Dallas, River Oaks, Houston and Nappa Valley. There are also home and restaurant units on McKinney Avenue in Dallas, and TTH Forty Five Ten, a Taylor Tomasi Hill space at Dallas’ Highland Park Village.
If Forty Five Ten is a model, Headington Cos. isn’t afraid to invest in retail, even as other brick-and-mortar chains are closing stores. After acquiring Forty Five Ten in 2014, the company opened a four-story, 37,000-square-foot flagship in Dallas across from the Joule two years later that features three retail levels, a restaurant and lounge and art throughout. According to Cole, brands that perform well include Dries van Noten, Marni, Céline, The Row, Rosie Assoulin, Khaite, Brock Collection and Balenciaga.
Excluding the restaurant and lounge, Cole said the selling space of the Hudson Yards unit will “be on par with the size of the Dallas store. We’ll start to move some operations into New York as of the spring.”
Cole said she has a “highly conceptual vision for both store designs, brand identities and designer matrices. Tenoversix has a more youthful spirit. Forty Five Ten is a higher price point and the designer market for sure. I have strong alignment for where we are going across fashion and design — it will be experiential, elevated, beautiful, directional, concept-driven and fun.”
Tenoversix will have a strong visual component, Cole said. “The design of the space will be very modern, clean and vibrant, with a strong art component,” she said. “My husband and I are art collectors and Tim Headington is a major art collector. There are lots of natural tie-ins to art. The visual component and direction of buys will become more edited and directional.”
Both brands’ e-commerce sites are slated for digital transformations. “By fall we’ll have a new e-commerce platform,” Cole said. “We’ll bring more product online with our own channel. It will have a different look and feel and strategy.”