Friday, June 10, 2022

[EXCLUSIVE] Balenciaga Opening Lenox Square Boutique, Byredo Bound For Phipps Plaza

Luxury retailer Balenciaga which this past December opened a 3,000 square foot store at Phipps Plaza in Buckhead, will now add a second store to Lenox Square, also in Buckhead.  A permit filed June 10 with the City of Atlanta indicates that the Spanish fashion house will open in place of what had been timepiece retailer Tourneau, on the mall's first floor, not far from the former (and soon to reopen?) Starbucks. 

Balenciaga's "full destroyed" sneaker which retails for $1,850

ToNeTo Atlanta reported in January that Tourneau would close after more than two decades in business.  No reason was publicly provided for the closure, but industry sources tell ToNeTo Atlanta that Tourneau felt pressured to close given the number of watch retailers that have opened around their store.  The new Lenox Square Balenciaga will be about 2,150 square feet with its "minor tenant remodel" expected to cost an estimated $20,000 compared to the $750,000 the firm spent on the buildout of their Phipps Plaza boutique.  The low cost could be an indication of either a pop-up or other trial run of the store before significant investment is made in more permanent store buildout.  

Balenciaga, which like Gucci, Bottega Veneta, Alexander McQueen and Yves Saint Laurent, is owned by French luxury conglomerate Kering.  Worth noting is that it's not the first luxury label to operate outposts in both Lenox Square and Phipps Plaza.  Gucci, which this past May opened a Lenox Square outpost in the mall's Luxury Wing near Neiman Marcus, also operates a large store at Phipps Plaza.  ToNeTo Atlanta exclusively reported May 28 that Tiffany & Co., which has operated a boutique in Phipps Plaza for more than fifty years, will later this year add a second Buckhead boutique at Lenox Square.  

Over at Phipps Plaza, Byredo, a Swedish company offering perfumes, candles, makeup, body care and leather goods is opening its first Atlanta boutique.  The new shop will open in place of locally owned eyewear retailer Frame of Mind (F.O.M.), which itself is relocating (and expanding) to the mall's second floor. The soon-to-be Byredo space is a mere 927 square feet and prior to Frame of Mind  had been home to uber sexy lingerie retailer Agent Provocateur.  

A permit filed June 2 with the City of Atlanta indicates that the company plans to spend $190,000 building out the small space.  The new Phipps Plaza outpost is only the sixth in the U.S. for the company, which has existing boutiques in New York City, Dallas, Los Angeles (2) and San Francisco.  The brand's products are also carried at select luxury department stores such as Bergdorf Goodman, Nordstrom, Saks Fifth Avenue and Neiman Marcus.  

Byredo, a portmanteau of "By Redolence," was started by former professional basketball player turned art student Ben Gorham in 2006.  The brand has today expanded from what was originally a few scents, to a dozen fragrances and an ever expanding line of new scents, special collections and collaborations. 

London-based Manzanita Capital acquired majority ownership in Byredo in 2013 that aided the company's expansion both geographically and product wise.  On May 31, 2022, however, a majority stake in Byredo was sold to Spanish fashion and fragrance company Puig in a deal reportedly worth just over $1 billion.  

Fragrances, which each have unique names: Mojave Ghost, Gypsy Water, Mister Marvelous, Rose of No Man's Land, etc.  - start at about $200 for a 50ML bottle and go north of $325 for 100ML bottles. 

Are you surprised to hear Balenciaga is adding a boutique to Lenox Square?  What one word comes to mind when you think of Lenox Square?  Are you familiar with Byredo?

Please share your thoughts below. 

4 comments:

Anonymous said...

Great, another store ensuring that aspirational poor people stay poor.

Anonymous said...

Sounds like only upscale and expensive brands can afford the rents at Lenox and Phipps. These malls are becoming more and more inaccessible to the middle class.

Anonymous said...

I’m sure people will be lined up to buy overpriced $2,000 sweaters

Disneypal said...

I can’t believe that someone would spend almost $2,000 for sneakers that look like something they could get out of a dumpster for free.

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