Kenneth Cole to Close All Stores, but Will Keep the Bowery Location
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Kenneth Cole is said to shutter its 63 outlet stores over the next six months. One of the only locations to hang in there is the cornershop at Bowery and Bond. The clothing company will instead focus efforts on e-commerce and international sales, according to Crain’s.
Kenneth Cole settled at 328 Bowery last year, a retail condo space that was “warehoused” (i.e. waiting for more money) since Washington Mutual bank vacated the premises in 2009. Their lease on the 2,510 square-foot space (plus 1,604 square-feet downstairs) was reportedly $100,000 in monthly rent.
The only other store is in Arlington, Virginia, near the Pentagon. Cole himself, who is chairman and chief creative officer, took the company private in 2012 after years in the public market.
Eponymous designer Kenneth Cole founded the brand on the Upper West Side in 1982. The first retail shop opened two years later, and the rest is history.