Retailers promise masses a year of lux' for less

Real Estate Weekly, May 18, 2005 by Faith Hope Consolo, Douglas Elliman

You don't have to be Robin Leach to know that everyone wants to live out the "lifestyles of the rich and famous" these days. In our celebrity obsessed society, where people from all economic backgrounds want a piece of the "bling bling," the luxury retail sector has positively exploded.

Luxury for the masses has become a reality and what was once reserved for the elite is now common. Take for instance, the world's rarest gem--the pink diamond. It's now available at a Walmart near you. Accessible luxury has allowed all of us to capture the lifestyle through trinkets, watches, handbags and cars, but without having to pay the astronomical prices that ordinarily go along with it.

Going hand in hand with this trend is the return of the department store. These retailers, which sell mass market products, led the gains in retail sales last month. Quite surprisingly, JC Penney's went head-to-head with Nordstrom. The aforementioned Walmart also came back very strong, with excellent sales on its deeply discounted merchandise despite soaring gas prices. Neiman Marcus, the dream department store, also held its own. The darlings of discount--Tar-jay, also known as Target, and Federated, home of Macy's--also reported robust sales. While April got off to a somewhat sluggish start, shoppers came out to the stores for Easter and just kept on shopping, ending the month on a high note and giving analysts a one-two punch. The optimistic reports of robust retail sales will ensure a blissful summer for all of us in the commercial real estate world. In fact, a 4.8 percent increase is anticipated over 2004's sales numbers.

We can also expect an exciting line-up of new retailers in Manhattan this summer. Here's a sneak peek:

On fabulous Fifth Avenue: Electronics giant Best Buy will bring big box to Fifth Avenue when it debuts on the southeast corner of 44th, replacing the old Today's Man store.

On the Golden Mile. Apparel group Magaschoni is making its way over to 36 East 60th, between Park and Madison. m0851, a cutting-edge architectural inspired clothier, has "designs" on occupying the former Melanie de France store at 748 Madison Avenue, next door to Buccellati's temporary boutique on the corner.

Marvelous Midtown: Just in time for the June retail update is news that Joon New York, the fine pen retailer, is opening a new flagship store at 795 Lexington Avenue.

Over in Rockefeller Center." Kuhlman Company, Anglo-American designers of sumptuous menswear, will occupy a concourse retail space in Rock Center. Nine West will wedge itself in at 1258 Sixth Avenue and Nintendo will keep children and the young at heart up to date on electronics when it debuts in the former Pokemon Center at 10 Rockefeller Plaza.

On the Lower East Side. Fashion buffs delight--Foley & Corinna, which sells a mix of vintage clothing and original designs by Dana Foley and other coveted labels, will take up residence at 114 Stanton Street.

The Upper West Side: Fans of Melia Mills will know it's "worth the wade" to head to 220 Columbus Avenue, at 70th Street, when the swimwear retailer brings her beautiful designs to a new boutique uptown.

In Charming Chelsea. Antiques dealer Mantiques will be treasured at its new 146 West 22nd Street location, while Antonio Prieto, the look good, feel good salon-to-the-stars will add style and sass to Chelsea when it opens at 127 West 20th.

In Soho: The stupendous neighborhood continues to be a hotbed for retail activity. Among the new tenants on the way are Via Bus Stop, Tokyo-based clothing by international designers, which will open at 172 Mercer, and high-end custom denim retailer An Earnest Cut & Sew, at 821 Washington Street. Buckler's, a store full of British men's gear will bring its English flair to 13 Gansevoort Street. Luxury leather goods giant Longehamp will open at 132 Spring, while just down the block, at 122-124 Spring, menswear retailer John Varatos will cater to the neighborhoods stylish gents. Also new to the area will be Mastic Spa, who will sell its luxurious line of Greek spa products derived from the mastica plant. Mastic will emerge at 438 West Broadway, at Prince Street, alongside luxury brand neighbors Coach, French Connection and Origins.

Green River Stone Company wilt bring a piece of the west east when it sell fossils from Wyoming's Rocky Mountains, to be used in murals, tiles, counters, tabletops and more, at 51 Wooster Street. A Diesel Kids is also scheduled to appear soon at 416 West Broadway. Vermont-based snowboarding label Burton will enter the scene, opening at 106 Spring Street. Appealing to a similar crowd will be DC Shoe Co., at 109-111 Spring, with its flagship store full of snow and skate apparel and accessories. Tying into the trend of lots of cheap chic and fast fashion is Spain-based chain Mango, which is rumored to be opening at 578 Broadway in the near future.

In Nolita: Feminine women's wear by designer Rebecca Romero will be on display at Maverick Boutique, at 262 Mott Street.