Maison Goyard wasn’t going to miss out on the luxury retail trend gripping Madison Avenue in recent weeks.
The French company agreed to lease 9,000 square feet at 699 Madison Avenue, Women’s Wear Daily reported. The company will be relocating its boutique from 20 East 63rd Street and also plans to use the Madison Avenue space as a corporate office.
Retail by Mona is working on the lease for Goyard. The company plans to open its store next year. It’s unclear how much the asking rent is for the space, or the length of the lease.
In a statement, Retail by Mona executive Eric Le Goff referred to the space as being on the “most sought-after block on Madison Avenue.” It’s on the same block where watchmaker Jaeger-LeCoultre has a new storefront and across the street from a Hermes store.
Le Goff’s comments are naturally boasting, but there’s some truth in what he said, as Madison Avenue luxury retail is having a shining moment.
At the start of the year, Swiss luxury fashion house Akris bought a retail property at the corner of Madison Avenue and East 66th Street from SL Green for $40.6 million. The space is occupied by an Oscar de la Renta store, which has a lease expiring in the near future and plans to relocate to nearby 680 Madison Avenue.
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Akris plans to open a store at 772 Madison once it becomes available, according to a source familiar with the company’s plans.
Last year, Jeff Sutton and his partners, the Reuben brothers, sold the retail property at 747 Madison Avenue that’s home to Versace at the corner of East 65th Street to vacuum mogul James Dyson for $135 million.
New Madison Avenue storefronts are also in the works for Michael Kors, Swarovski, Van Cleef & Arpels and Lalique.