COLE NIXES SOHO ADDITION
NEW YORK — Kenneth Cole Productions is in the process of reviewing all of its leases and has killed plans to expand its SoHo store, said Stanley Mayer, the company’s chief financial officer, Thursday morning at the Robertson Stephens Conference held at the Pierre Hotel here.
Mayer said that in light of the events of Sept. 11, the company did not feel it was appropriate to expand the store at this time. The expansion would have taken place in two phases and would have added 5,000 square feet first, followed by 10,000 square feet. Both additions have been stopped, Mayer said.
“We’re going through all of our leases and seeing what kinds of opportunities lie ahead for us,” Mayer said.
On another subject, Mayer said the firm is moving toward launching men’s and women’s fragrances in fall 2002, probably bearing the Kenneth Cole name, which will then be followed by Reaction and Unlisted fragrances. As reported, LVMH Moet Hennessy Louis Vuitton will license the fragrance.