New York, NY, May 20, 2011 --(PR.com
)-- After 25 years at the Northeast corner of Union Square Park, Rothman’s Men’s Clothing has signed a long term lease to relocate, expand and redesign its iconic menswear boutique to 11,000 sq.ft. at 222 Park Avenue South. The new location at 18th Street is just one block north of the company’s longtime headquarters at 200 Park Avenue South on the corner of Park Avenue South and 17th Street. This lease represents an expansion of more than 3500 sq.ft.
“We are thrilled to announce our plans for a modern menswear emporium that will enhance the shopping experience for our customers while we remain in the vibrant Union Square neighborhood that has served us so well for decades,” said Ken Giddon, who represents the third generation of Rothman’s family ownership. “We are ready to build the next iteration of a men’s store – creative, forward thinking and improvisational. We expect our customers to be excited about the product, while knowing that much of the fashion editing has been done for them. It will be both enjoyable and efficient, as we take our cues from retail innovators like Apple, more than traditional apparel stores.”
The new Rothman’s store is scheduled to open in early 2012.
Rothman’s, which has an outpost in Scarsdale, NY, is one of the largest independently-owned men’s only stores in New York City. Founded by Harry Rothman in 1926, the store was revitalized by his grandsons Ken and Jim Giddon in 1986 and continues to thrive.
“Jim and I see this store as ever evolving, and while it is considered a true institution by many New Yorkers, we will continue to invite innovation while respecting the heritage of the company,” Mr. Giddon said.
In its new location, Rothman’s will continue to carry its wide array of established quality brands such as Canali, Hugo Boss, Z-Zegna, Ted Baker, Corneliani, John Varvatos and Cole Haan, while also welcoming an array of emerging designers. The store will also continue in its tradition of highly personalized service and ease of one-stop shopping. But the many similarities end there, as a number of new and groundbreaking features are planned for the 18th Street store.
Co-President Jim Giddon said plans include an oxymoronic “Permanent Pop –Up Store,” that will have short term engagements with emerging products, brands and ideas that are interesting to his clientele They plan not to be limited by the traditional concept of a men’s store. “We will be offering what we believe are great products that our customer will appreciate, whether that means suits, denim, books, bicycles, cameras or cars . We are actively engaged in discussions with other potential partners to collaborate with us on providing their own products through leased departments or partnerships. Possible joint ventures include jewelry, watches, an expanded shoe department, a complete custom clothing experience, fitness, and bridal/wedding purveyors,” he said.
The real estate transaction was the brainchild of ABS Partners, Rothman’s current and future landlord. ABS recently purchased 222 Park Avenue South and invited Rothman’s relocation, including the buy-out of its lease at 200 Park Avenue South.
ABS Partners managing partner Gregg Schenker stated, “We are delighted to welcome Rothman’s to 222 Park Avenue South. We are thrilled to continuing our longstanding relationship with the retailer and the Giddon family. We look forward to watching Rothman’s Men’s Clothing thrive on 18th Street, and welcoming a new tenant to 200 Park Avenue South where the transformation of Union Square Park continues and Rothman’s has proven it to be an outstanding retail location.”
Rothman’s was represented in this transaction by Gary Trock of CBRE.