Jeff Staple

NEW YORK — In late August, Jeff Staple revealed that he would close Reed Space, the Lower East Side streetwear and sneaker boutique he opened 15 years ago.

Now Staple is joining forces with TGS Inc., which owns streetwear shops across the country including Extra Butter, and will open a new and improved Reed Space either later this year or early next year.

“I am honestly not prepared to share what Reed Space 2.0 will specifically be like yet,” said Staple. “But I can share what it won’t be. It won’t be a place that just sells stuff to you.”

TGS has acquired Reed Space and Staple will join the company as creative director. Along with Extra Butter, which has locations in Manhattan and Long Island, TGS also owns Rise, which is also located on Long Island, and Rooted, a streetwear boutique that will open in Nashville, Tenn., soon.

According to Staple, a location for the new Reed Space hasn’t been confirmed, but it’s possible he will stick with the Lower East Side.

“The LES isn’t the same anymore,” said Staple. “In fact, I am hard pressed to find a neighborhood that has the same vibe the LES did 10 years ago. So we’re open to many other areas, but if everything sort of feels the same, we might just settle on the LES.”

Staple decided to close Reed Space because of an increase in rent, which would have forced him to increase payment on his security deposit and renovate the store. Staple said he might have considered it, but thought it was best to regroup given the current state of retail.

“It’s supertough,” said Staple of New York City retail. “Walk down any random block in Manhattan and you will likely find more ‘For Rent’ signs than interesting storefront businesses. I feel like every block in Manhattan is this: a bank, a Starbucks, a bodega, a takeout spot, a for rent sign and another bank.”

Along with opening a new Reed Space, Staple will work with Extra Butter’s cofounders Bernie Gross and Jason Faustino to grow Extra Butter, which will celebrate its 10th anniversary next year.

“Growing up and living in New York gave us the ability to experience firsthand the brands and shops that cultivated what is now known as the sneaker, streetwear and fashion world,” said Gross. “Jeff and Reed Space were certainly part of those humble beginnings, and we’re very excited to be working with him to turn a new chapter for our organization.”

Jeff Staple’s streetwear brand Staple Pigeon recently collaborated with Puma on a capsule collection of four sneakers. He partnered with PacSun in 2014 to bring the Reed Space retail experience to four of its mall locations in the U.S. Reed Space also has stores in Hong Kong, Hawaii, Japan and Singapore, which are operated by regional partners.