City Center retail update (Washington: metro, area, business)
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People in this thread going orgasmic over luxury stores catering to the .01 percent wealthiest of people. Must be "progress" for DC. Onward and upward.
RE: Gucci - the store will be next to Canali at 10th and I (per DC permits).
RE: Hermes - they left Fairfax Square after suing their landlord, claiming (and winning) that the mall breached the lease terms requiring 'luxury tenants selling premium brands' after they leased space to USAA Bank and Miele appliances (Fairfax Square LLC v. Hermes of Paris Inc.).
Hermes recently kicked off the opening of the CCDC store with a lavish dinner for 120 top customers. Reportedly these were customers who had spent $85,000 or more in Hermes in the past year. Check that out - $10.2 million dollars in sales from just 120 people. That's $1700/square foot for the new store. Obviously there is no way of knowing if all of those people will spend that kind of money at the CC store but it points to a few things. What about the people who only spent $40K or $20K? Clearly this company knows there is plenty of business out there to justify this store. And this also shows that these stores do not need walk-in traffic to survive (and thrive). I wouldn't be surprised if other retailers have similar customer makeups - a small number of people driving a large chunk of the business. The walk-in customers will be icing on an already well-frosted cake.
I spent an afternoon there recently. Word from one of the stores is that Chanel is the next big announcement. Accounting for Gucci at 1000 I Street, the directory on the CC web site shows just nine spaces left. I can't wait to find out who else is coming!
1000 I Street would be west of 10th St, so next to Momofuku.
RE: Gucci - the store will be next to Canali at 10th and I (per DC permits).
RE: Hermes - they left Fairfax Square after suing their landlord, claiming (and winning) that the mall breached the lease terms requiring 'luxury tenants selling premium brands' after they leased space to USAA Bank and Miele appliances (Fairfax Square LLC v. Hermes of Paris Inc.).
Hermes recently kicked off the opening of the CCDC store with a lavish dinner for 120 top customers. Reportedly these were customers who had spent $85,000 or more in Hermes in the past year. Check that out - $10.2 million dollars in sales from just 120 people. That's $1700/square foot for the new store. Obviously there is no way of knowing if all of those people will spend that kind of money at the CC store but it points to a few things. What about the people who only spent $40K or $20K? Clearly this company knows there is plenty of business out there to justify this store. And this also shows that these stores do not need walk-in traffic to survive (and thrive). I wouldn't be surprised if other retailers have similar customer makeups - a small number of people driving a large chunk of the business. The walk-in customers will be icing on an already well-frosted cake.
I spent an afternoon there recently. Word from one of the stores is that Chanel is the next big announcement. Accounting for Gucci at 1000 I Street, the directory on the CC web site shows just nine spaces left. I can't wait to find out who else is coming!
I have been trying to tell these people that for going on 3 years now.....
Hermes recently kicked off the opening of the CCDC store with a lavish dinner for 120 top customers. Reportedly these were customers who had spent $85,000 or more in Hermes in the past year. Check that out - $10.2 million dollars in sales from just 120 people. That's $1700/square foot for the new store. Obviously there is no way of knowing if all of those people will spend that kind of money at the CC store but it points to a few things.What about the people who only spent $40K or $20K? Clearly this company knows there is plenty of business out there to justify this store. And this also shows that these stores do not need walk-in traffic to survive (and thrive). I wouldn't be surprised if other retailers have similar customer makeups - a small number of people driving a large chunk of the business. The walk-in customers will be icing on an already well-frosted cake.
Reasonable response#1
Quote:
Originally Posted by coldbliss
People in this thread going orgasmic over luxury stores catering to the .01 percent wealthiest of people. Must be "progress" for DC. Onward and upward.
Reasonable response#2
Quote:
Originally Posted by MDAllstar
I have been trying to tell these people that for going on 3 years now.....
Thanks!
Now this is in no way to undermine what CCDC is trying to accomplish here or to undermine anyone's opportunity to have and experience these types of lavish stores.
But we know from previously stated that "many people in DC have better things to worry about than fashion". We also know that what DC is going through is pretty much recent and so the overall embedded mentality of a perceived big city fashion retail isn't there yet- but not to say it can't or shouldn't be allowed.
So my question then becomes, considering that the extent of the culture that surrounds the city center project hasn't been deeply imbedded into the texture of DC;
#1 how will DC build around city center to help promote the newly found culture it needs?
#2 how will this contribute to the overall building of retail fashion for the other % in the DC area?
#3 are statements from those like MDAllstar of genuine support for a TRUE fashion culture that can stem from all of this or is it simply words of blind encouragement for DC not to be left behind and "be on par" with other "world class cities"?
#4 are statements from those like coldbliss genuinely from a place of concern that thinks catering to the .01% is a detriment to the region because of lack of existing culture? Or does it come from a place of hate?
Not trying to offend anyone or those that I included in this post. Just trying to come from a fair and reasonable standpoint with questions that many may have considering how this new development in a city with lack of "big town fashion retail" may impact everyone on various levels.
Last edited by halfamazing; 05-27-2015 at 09:36 PM..
Foot traffic will increase if the stores are advertised better.
Hermes closed shop in Tysons and moved to CityCenter, that will hopefully help draw in the Hermes patrons from the suburbs.
Other stores should try to do the same to get the Tysons/Tysons Galleria customer foot traffic over to City Center.
And ofcourse, advsertise it better within DC's residents too. I was at Tysons Galleria just this past weekend. Plenty of cars with DC license plates still to be seen.
A lack of 'big town fashion retail'? This is 'pretty much recent'? Saks opened in Chevy Chase in 1964, Neimans at Mazza in '78, and both at Tysons Galleria in 1988. These retailers don't pick locations out of a hat. They know (and I've worked for one of them) that this region has enough interest in fashion to support these stores - and has for decades. There are just 8 metros that can claim more than one N-M and we are one of them. This is not about being 'on par with other cities', a 'newly found culture', or any of these other ideas. It is purely a business decision. The retailers opening in CC have many years of knowing how well fashion and luxury does in the region and have the sales figures to prove it. They don't go on perception of an area's style - they go on facts.
As for the haters, something else to keep in mind. That $10.2M in Hermes sales would generate $586,500 in sales tax that will go to the city. And that's just one slice of this sales tax pie. I might not shop in these stores but I welcome them.
A lack of 'big town fashion retail'? This is 'pretty much recent'? Saks opened in Chevy Chase in 1964, Neimans at Mazza in '78, and both at Tysons Galleria in 1988. These retailers don't pick locations out of a hat. They know (and I've worked for one of them) that this region has enough interest in fashion to support these stores - and has for decades. There are just 8 metros that can claim more than one N-M and we are one of them. This is not about being 'on par with other cities', a 'newly found culture', or any of these other ideas. It is purely a business decision. The retailers opening in CC have many years of knowing how well fashion and luxury does in the region and have the sales figures to prove it. They don't go on perception of an area's style - they go on facts.
As for the haters, something else to keep in mind. That $10.2M in Hermes sales would generate $586,500 in sales tax that will go to the city. And that's just one slice of this sales tax pie. I might not shop in these stores but I welcome them.
......that's all. I stopped trying to explain these things long ago.
People in this thread going orgasmic over luxury stores catering to the .01 percent wealthiest of people. Must be "progress" for DC. Onward and upward.
You are so correct! I had to buy some new panties at Victoria Secrets because of a orgasmic episode...
A lack of 'big town fashion retail'? This is 'pretty much recent'? Saks opened in Chevy Chase in 1964, Neimans at Mazza in '78, and both at Tysons Galleria in 1988. These retailers don't pick locations out of a hat. They know (and I've worked for one of them) that this region has enough interest in fashion to support these stores - and has for decades. There are just 8 metros that can claim more than one N-M and we are one of them. This is not about being 'on par with other cities', a 'newly found culture', or any of these other ideas. It is purely a business decision. The retailers opening in CC have many years of knowing how well fashion and luxury does in the region and have the sales figures to prove it. They don't go on perception of an area's style - they go on facts.
As for the haters, something else to keep in mind. That $10.2M in Hermes sales would generate $586,500 in sales tax that will go to the city. And that's just one slice of this sales tax pie. I might not shop in these stores but I welcome them.
Quote:
Originally Posted by MDAllstar
......that's all. I stopped trying to explain these things long ago.
This is the problem I have with your types- and I am not trying to attack you personally. If I am incorrect, then so be it and I stand correct in my perception. I was in no way trying to undermine the fashion state of DC but rather acknowledging it's growth while questioning the extreme culture shift.
See, if you read my post, I posted 2 questions for either end. I was in no way trying to make a point. But clearly, there is some cherry picking happening. If I am wrong, correct me and continue to address the questions I reasonably posted and let's have a conversation.
But your type of responses are the ones that are often made on here and that make me want to "go there" but I am not- same way you refuse to explain further. This is the response of those that don't have it but is just now getting it. They now want to gloat that they are on their way of being "on par" with the other elite. This whole thumbs up and slapping each other high five all comes from a place of insecurity.
You know, I observe and I read articles. If the articles match my observations, I go with that- such "As I have learned in my two years at GWU, DC harbors more than just politics and big business; in fact, it's home to a rapidly growing fashion community. Yes, it's true; there is more to this amazing city than the pant suits and ties you see on the Hill". So clearly the perception wasn't of high fashion coming in as it is of other major cities. The Nation's Capital Gets Trendy*|*CollegeFashionista
Rapidly growing suggests to me that it wasn't there to begin with as it is my understanding and from what I notice on my own. It goes along with "Is DC hip yet" etc. Bottom line, if you got it, you got it. People don't question PERIOD.
But also, I belong to several other website forums from fitness, music, fashion, business, relationships, and argue just as passionately. But the DC forum is the only forum where I come across all these "try fit-inners". Basically many, NOT ALL, but it's like a bunch these particular nerds just throwing out things and gloating because they are trying to fit in. I am really not trying to undermine anyone but its like if the conversation isn't about flow charts, statistics, or street zoning, then you get nowhere because that is all you know and need to throw in your 2 cents just to "seem cool"... Stop it already, really. Stop pretending.
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......that's all. I stopped trying to explain these things long ago.
