The potential exists for up some 100 stores in the United States alone, according to Matthew Astrachan, executive vice president of New York-based Cushman & Wakefield, the company's exclusive agent. The team also included Alan Napack, Gene Spiegelman, Mitchell Konsker and Steven Bauer. The first five units will open in November.
"The strategy is to test the first five," Astrachan told Globe St. "We're now being courted by streetfront locations. With our help, they did extensive demographic analysis, and are basically centered on each of the coasts."
Leases have been signed with Beverly Center in Los Angeles, Cherry Creek in Denver, the upcoming Mall at Partridge Creek in Bloomfield Hills, Mich., Natick Collection in Natick, Mass., and Lenox Square in Atlanta. Potential markets under consideration for additional stores include metro New York, Boston, Las Vegas, San Francisco, San Diego, Miami, Orlando, Dallas, Houston, Chicago, and Scottsdale, as well as other major metropolitan markets, the company said. International expansion is not impossible, but not happening anytime soon.
"This is domestically focused," Astrachan said. "There are some locations in Puerto Rico and in Mexico [we've considered], but that is not on the radar screen."
The stores will average approximately 10,000 square feet and feature nearly all of the Calvin Klein white label line, including men's and women's apparel, underwear, outerwear, shoes, eyewear and fragrances. About 75% of the merchandise in the stores will be new and unique, avoiding duplication of product found in department store anchors, Astrachan added.
"We are very excited about the launch of our first specialty retail stores in the U.S. market," said John Walsh, president & COO, Calvin Klein Retail, in the announcement. "This initial test phase will allow us the opportunity to refine our product offerings and develop market-specific merchandising strategies that appeal to the specialty retail client base."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
