Quote:
Originally Posted by ConstructDTLA
Are you 100% about your Urban Outfitters information? Thats completely opposite of what I'm hearing from management sources...
The exodus I'm referring to has been discussed on this thread, ACNE being the largest to possibly be leaving.
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An exodus is a mass departure. Where do you see that at 9th and Broadway? So far the only recent retail that has closed is Angelo Home, which in my opinion was horribly merchandised, styled and lit. That place was only marginally better than a vacant store front. It was nowhere near what will replace it, and what surrounds it (ACNE, APC, Aesop, Tanner, Bunker, Oak, even UO) as far as design, style and quality of merchandise. So it was the neighborhood misfit.
I don't really think any of us can predict corporations. One day they say one thing, sometimes leadership or strategy changes, and suddenly they are saying/ doing something else. But so far Broadway seems to be on the right path, and it seems that the interest level is reasonably high. So I wish some of the people on here would just give things a chance. There will be some turnover. But I don't think that it is troubling unless there is mass turnover/ closures. Most stores/ even chains that are just doing in-the-toilet badly, will close within even a few months of opening.
No, I'm not 100% about UO, are you? If so, where is the store closing sign? The UO district manager for SoCal I know told me that they were getting daily walk-throughs of customers in the 600-1,000 range. Obviously nowhere near SM or some other majorly trafficked area, but doesn't seem to be too bad to me. Rents are obviously significantly cheaper here as well. Also, I think the fact Mykita Eyewear announcing so quickly that they will be taking over the Angelo Home space, seems to indicate that there is pretty strong demand on southern Broadway. (From my perusal of their worldwide stores, they are all fashionable and look great!) That space is definitely not just lingering around. Oak, if any I thought would close, due to all the ongoing problems at American Apparel. They had announced as much several months ago. Either the store is doing better than expected, or they have changed their strategy and decided to keep them open? But if that store was doing horribly, I think it would be gone by now. Amercan Apparel has already closed quite a few stores.
I think most of the stores, provided their sales are not abysmal, will at least stick around for a couple of years and give things a chance. At the end of they day, most of these companies have multiple stores, and have reasonably deep pockets to ride things out. The mix of stores really reminds me of SoHo back in it's better days. Hopefully things will continue to mushroom and the area will become a true destination.