Victoria’s Secret to Expand Store Footprint
New York City, Victoria’s Secret is rolling out several new initiatives, including the launch of new products that go beyond lingerie and an aggressive expansion of its store footage, according to Fortune.
Victoria’s Secret plans to increase the square footage of as many as 140 locations by 50% this year, according to the report. Ultimately, some 700 stores out of a total of 1,000 could be expanded.
The company also plans to introduce accessories such as luggage tags, wallets and passport holders this holiday season and is already testing athletic apparel. The new items will be featured in the chain’s larger stores.
Investment Firm Acquires Quaker Fabric Assets
Melville, N.Y., Gordon Brothers Group has acquired through bankruptcy auction the majority of assets of Quaker Fabric, Inc. in Fall River, Mass. Assets include all raw and finished fabric inventory, machinery and equipment, intellectual property, trademarks, patents and real estate.
As part of the deal, DJM Realty, the real estate division of Gordon Brothers Group, purchased Quaker’s five industrial facilities in Fall River, Mass. The multi-use buildings range from 43,000 to 450,000 sq. ft. and are situated on up to 37 acres of land.
Macy’s to Open New Tampa Store
Cincinnati, Macy’s, Inc. said Tuesday it will open a new store at The Shops at Wiregrass, a new lifestyle development developed jointly by Forest City Enterprises and The Goodman Co. and located in North Tampa, Fla. This will be Macy’s eighth store in the Tampa market.
At 140,000 sq. ft., the store will on be two levels and will offer a full complement of apparel and accessories for men, women and children, as well as home textiles and housewares.
“We are excited to be expanding the number of Macy’s locations in this important and growing area of the Tampa Bay market,” said Julie Greiner, chairman and CEO of Macy’s Florida.
Construction is expected to start in December 2007, and the store will open in October 2008.