REAL ESTATE

Fashion Outlets of Chicago to open Aug. 1

BY Marianne Wilson

Chicago — Fashion Outlets of Chicago, a 530,000-sq.-ft. retail destination located just minutes from O’Hare International Airport and 15 miles from downtown Chicago, will open its doors for the first time on Aug. 1.

The first fully-enclosed outlet mall built in Chicago in more than two decades, Fashion Outlets of Chicago is nearly 95% leased and will be home to 130 stores, including anchors Bloomingdale’s The Outlet Store, Neiman Marcus Last Call, Saks Fifth Avenue Off 5th and Forever 21, as well as outlet locations from high-fashion brands such as Gucci, Tory Burch, and Barneys New York.

A number of brands are also opening their first outlet store in Chicago, including Longchamp, Vince Camuto, Ports 1961 and L’Occitane.

Among the center’s innovations is The Arts Initiative, founded and curated by Arthur and Miami-based gallery Primary Projects, which will feature highly interactive visual arts integrated into the architectural framework of the property. Popular contemporary artists, such as Daniel Arsham, Jen Stark and Bhakti Baxter, created art that ascends the sides of escalators, throughout vestibules and entryways and suspended from ceilings.

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FINANCE

Cache announces new credit facility

BY Staff Writer

New York — Women’s specialty retailer Cache announced it has secured a new, five-year, $25 million credit facility through Wells Fargo Capital Finance, part of Wells Fargo & Company.

Cache CEO and chairman Jay Margolis stated: “We are pleased to partner with Wells Fargo Capital Finance to secure a credit facility. This facility enhances our financial flexibility to pursue our key initiatives that are expected to drive improvement in our operating performance and place us on a path to deliver sustained long term growth.”

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OPERATIONS

Sports Authority names new chief merchandising officer

BY Staff Writer

Englewood, Colo. — Sports Authority has named Stephen Binkley, formerly senior VP of merchandising and softlines, as its new chief merchandising officer. He replaces Greg Waters, formerly executive VP, chief merchant and chief marketing officer, who has decided to leave the company after 24 years to pursue personal interests.

During his tenure at Sports Authority, Waters held several leadership roles.

“Greg has been a great asset to Sports Authority and we thank him for his contributions to the company,” commented Michael Foss, CEO, Sports Authority. “He has played an important role in strengthening company operations and in our brand’s evolution overall. Greg will be spending the next several months aiding in the transition and we thank him for that. We wish Greg the best in all of his future endeavors.”

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