The luxury lingerie and swimwear brand Eres will close its three U.S. stores beginning in August and shift to franchises and shop-in-shops, which is similar to the brand’s business model in Europe.
Olivier Mauny, president of Chanel-owned Eres, said the company is in discussions with several U.S. retailers, including Neiman Marcus, for in-store Eres spaces, as well as with retail franchise partners.
“We currently have opportunities for several possible franchises and in-store shops in Los Angeles, Palm Beach and Washington, D.C.,” he said. “We expect to have other opportunities, especially after the Miami swimwear show this month.
“The commercial model best suited to our activity is the network of 60 retailers in the U.S., which includes Saks Fifth Avenue and Barneys New York,” Mauny said. “This is why we are adapting our model and closing three boutiques in the U.S. that had expensive leases. We’ll be focusing on the network of our 60 established retailers going forward.”
The company has had a presence in the U.S. for 10 years and has three boutiques in Manhattan, Los Angeles and Palm Beach, Fla. A fourth unit in Manhattan’s SoHo neighborhood closed in March.
In Europe, Eres operates five freestanding boutiques in Italy and two in Belgium, and has four franchised stores in Italy, Belgium, Switzerland and Capri, with two openings planned in France at the end of this year. There are also seven in-store shops at major department stores in France, one shop at Selfridges and another at Jelmoli in Zurich.