Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
r e T a i l i n g T o d a y there, says Candace Corlett, president of WSL Strategic Retail in New York City, a retail marketing and strategy firm. "We know, through our 'How America Shops' survey, that the affluent consumer will spend $250 on a top," Corlett said. "That shopper has money to spend and is willing to buy, as long as there's value." The value at that level of the mar- ket comes not from getting a deal, but from establishing an emotional connection to the brand, she says. Among the Joie stores that opened this year are boutiques in New York City's Meatpacking District and along Fillmore Street in San Francisco. Shops for Westport, Conn., and Pasadena, Calif., are among those still to come. The GROUND breakingGROUN breaking GROUND breaking GROUND breakingGROUND ND breakingGROUND bre GROUND breakingGROUND Meet us at ICSC Recon • May 19-21 Booth 166F • Central Hall Wayne Poe, Leasing Manager Phone: 949.623.9121 wpoe@steadfastcompanies.com Ed Hopwood, Leasing Manager Phone: 425.322.7179 ehopwood@steadfastcompanies.com Learn more about Steadfast • steadfastcompanies.com GROUND breakingGROUN breaking GROUND breaking ngGROUND breakingGRO ND breakingGROUND bre 98 SCT / M a y 2 0 1 3 company's first West Coast outpost, a 1,600-square-foot space, opened last summer at Fashion Island Mall, in Newport Beach, Calif., followed by a shop on Melrose Avenue, in West Hollywood. "Fashion Island really is this kind of hip, downtown type of retail center," said Stacie Ellis, senior director of marketing for Irvine Retail Properties, which owns Fashion Island. "Joie mixes in well with some of our other contemporary tenants like Splendid, Vince and Rebecca Taylor." But whether the Joie brand can succeed with a broader audience is an open question. "They really have a very limited appeal because of the price points," said retail analyst James Dion, founder and president of Chicago-based Dionco. "Can they do well in Manhattan and L.A.? Absolutely — there are a lot of those customers there. Chicago? Not so much. Dallas? A few." And this, industry watchers say, is precisely what makes the chain's real estate choices all the more critical. So far Azria has typically picked sites adjacent to main shopping areas, though not in the most expensive locations. Even the Madison Avenue boutique sits a few blocks up from the priciest stretch of stores. "This is not a store that's going to be in the tourist area or the main city shopping district," said Toll. "I live in Chicago, and that concept is not going to play at Water Tower Place or along State Street. It's going to be on Oak Street, or Armitage Avenue, where there are more of the off-the-beaten-track shops, and it's a little bit higher-end." Indeed, at a time when consumers are looking for retailers to give them a reason to step into a store rather than make a quick purchase online, Toll says Joie's stores may be just the experiential point of difference shoppers seem to be craving. SCT