REAL ESTATE

Swarovski sparkles in the Big Apple

BY Marianne Wilson

Swarovski has opened a flagship in New York City’s Times Square.

The 1,000-sq.-ft. space serves as a destination for all things Swarovski – from core collections in jewelry and watches to pieces in the brand’s iconic crystal collections. Swarovski enlisted the Cao Perrot Studio to design its “crystal forest” boutique concept, drawing on inspiration from trees and clouds.

“The concept will serve as a modern expression of the company’s identity and values, highlighting the infinite possibilities of crystal,” said Robert Buchbauer, a member of the Swarovski Family and Swarovski executive board.

Swarovski is hoping the new flagship will help it establish an even stronger retail presence within the U.S. market.

“The location of the Times Square flagship is a strategic move that will give our brand the additional exposure to maximize our growth potential,” said Jean-Jacques Sebbag, senior VP of Swarovski’s consumer goods business North America.

Swarovski Crystal Business has a global reach with approximately 2,680 stores in around 170 countries.

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Dunkin’ Brands has big expansion plans

BY Marianne Wilson

Move over Starbucks — Dunkin’ Donuts is on the move.

Dunkin Brands Group said it plans to add approximately 1,000 net new Dunkin’ Donuts locations in the U.S. by the end of 2020, with more than 90% of the stores built outside of its core Northeast home territory. (The company have over 9,100 U.S. restaurants.) For 2018, the company expects Dunkin’ Donuts franchisees will build more than 275 net new U.S. locations. The chain also reaffirmed its goal to eventually have more than 18,000 Dunkin’ Donuts restaurants in the U.S.

Since its initial public offering in July 2011, Dunkin’ Brands’ systemwide sales have grown by more than 40% and total global points of distribution have grown by more than 4,100 units, the company said. It has returned $2 billion in capital to shareholders through share repurchases and dividends.

“We are proud of these accomplishments but also realize that if we are to compete even more effectively within the coffee and breakfast segment, we must make further progress against the execution of our multi-year Blueprint for Growth plan, which is designed to transform Dunkin’ Donuts U.S. into the most-loved beverage-led, on-the-go brand,” said Dunkin’ Brands chairman and CEO Nigel Travis.

In other announcements, Dunkin’ Donuts said it is testing a newly-built digital catering platform in several markets. It also continues to test and expand third-party delivery options with the goal of creating a combined catering/delivery platform in 2019.

The chain is also rolling out drive-thru lanes, and expects that more than 75% of new restaurants moving forward will have a drive-thru. On average, a restaurant with a drive-thru lane boasts 40% higher sales volume than a non-drive-thru location, the company said.

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A hotel and retail are planned for American Stock Exchange

BY Al Urbanski

In 1921, the New York Curb Market Agency decided to move its longtime practice of stock trading off the streets and indoors to a building on Greenwich Street in Lower Manhattan. Now the original home of the American Stock Exchange will be housing curb retail.

In a joint venture, GHC Development and Clarion Partners will be reconfiguring and offering up 123 Greenwich Street — just one block from the World Trade Center — to retailers and other commercial ventures.

GHC Development acquired the property and the adjacent 22 Thames Street development site in 2011 and worked with the Landmarks Preservation Commission to separate the assets and transfer air rights to the development site. GHC, which sold the site in 2012, now is focused on remaking it with a high-rise hotel with retail tenants at street level.

Retail GLA will comprise approximately 80,000 sq. ft. over three levels, including two distinct 25,000-sq.ft. column-free floorplates with ground-floor identity and entrances fronting both Greenwich Street and Trinity Place.

GHC CEO Allan Fried sees the property playing an important role in what he calls the “transformative renaissance of Lower Manhattan. “This trophy property represents a singular opportunity for a retail or entertainment user…to create a one-of-a-kind presence and experience,” Fried submitted.

The original building was designed by architects Starrett and Van Vleck, the same firm that designed the Saks Fifth Avenue, Bloomingdale’s, and Lord & Taylor flagships in New York.

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