Modo plans to set up shop.
The exclusive eyewear firm and licensee for brands such as Derek Lam and Saki is poised to launch retail expansion in New York, said Faith Hope Consolo of Prudential Douglas Elliman, who brokered the deal for a 1,000-square-foot space.
The company, which operates a wholesale business in specialty optical stores around the world, plans a bilevel store on Elizabeth Street in Manhattan’s NoLIta neighborhood, Consolo said.
In addition, Modo is eyeing at least 10 more stores in the city, she said. “We’ve been talking to them a very long time and representing them in moving toward a national expansion,” Consolo said. “Other locations they’re looking at are Upper East Side and Upper West Side, the Meatpacking District and maybe the Financial District.”
Consolo said Modo also is scouting retail locations in Boston, Chicago, Washington and Miami. “This is just the beginning,” she said. “Modo is very successful wholesale-wise, and there’s a niche for them in the retail arena. They are very strong and chic, yet understated.”
Modo declined to comment.