NEW YORK — Coach has found a Beverly Hills address to add to its burgeoning retail network and collection of products, WWD has learned.
A long-term lease was signed at 325 North Rodeo Drive for a two-level, 4,200-square-foot unit, currently occupied by BCBG and near Tiffany, Gucci, Hermès and Cole Haan. Coach operates about 170 retail stores and 77 outlets in the U.S. The deal was signed with Madison HGCD, a retail brokerage firm representing Coach, and Dembo & Associates, representing the landlord.
Coach is expected to open the store in the fall of 2005. The BCBG lease is set to expire that spring.
“This will be Coach’s first store in Beverly Hills and there is no better place for them than Rodeo Drive,” said Stephan Stephanou, executive vice president of Madison HGCD.
Beverly Hills will be Coach’s second street location in California. The other is at 190 Post Street in San Francisco. The 10 other California units are in malls.
Recently, Coach has stood out for its strong earnings and sales growth. It produces handbags, business cases, luggage and travel accessories, wallets, outerwear, gloves, scarves and fine jewelry. It also offers watches, footwear, home and office furniture and even limited-edition Vespas.
In addition to Beverly Hills, Madison HGCD has recently completed transactions for Coach stores in Manhattan at the Time Warner Center and in the Flatiron District, as well as in Philadelphia, Westport, Conn., and Sea Girt, N.J.