MOVING ON: Roland Mouret has shut his town house store at 1006 Madison Avenue as part of a wider reorganization of the business, which is streamlining and putting a greater focus on e-commerce, digital and wholesale.
Mouret opened the store, at 77th Street, in September 2016, having relocated from number 952 Madison Avenue. It spanned 1,937 square feet over the ground and mezzanine levels of the Twenties-era building.
“It’s the smallest town house on Madison — it’s unique,” the designer told WWD at the time, adding that he was proud to remain near to The Met Breuer, which focuses on the The Metropolitan Museum of Art’s 20th and 21st century collections.
The setting was similar to Mouret’s London flagship, which is located in a red brick town house on Carlos Place, across from The Connaught hotel and just off Mount Street. In London, retail is on the ground floor with design studios and offices on the upper levels. The vast Carlos Place town house remains open.
As reported, Madison Avenue has been struggling with declining rents and high vacancies since the 2008 recession. According to research by Cushman & Wakefield, Madison Avenue availability rose to 27.8 percent at the end of the second quarter of this year, a 4.3 percent increase over the 2017 quarter. Meanwhile, the average asking rent was $1,300, a 9.2 percent decline.
There has been action on the street of late — albeit south of where Mouret’s town house was located — with brands including Balenciaga and Celine planning to open stores at 610-620 Madison and 650 Madison, respectively.