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Lisa Kline's sidewalk sale this summer
It's not a cheery story, but let's start the morning with WWD's article about the spate of closings among LA's boutiques. As Lisa Kline vividly describes the situation: "It's ugly out there. There's no fat on my company. My store is anorexic right now." The damage, in list form:
1.) Lisa Kline on Beverly Drive: The retailer tells WWD she's looking for someone to take over her lease.
2.) Sergio Rossi on Melrose Place: Opened last spring, already gone.
3.) Rock & Republic on North Rodeo Drive: Leased last spring for ten years, looking for a subletter.
4.) Ron Herman on North Beverly Drive: Looking for a subletter.
5.) Madison and Diavolina on Robertson: Both moving to cheaper digs on Third Street.
Other recently-closed stores on their list include "agnès b., Danmark, Diabless, Magenta, Presse, Il Primo Paso, Parasuco, Tryst and Vanity," plus Tracey Ross and of course Kira Plastinina. And then there's the whole consignment thing: "Kitson, Belle Gray, Lisa Kline and others said they have dramatically increased the amount of consignment merchandise being stocked, a practice once limited largely to accessories and jewelry." The closest thing to good news for retailers: Rents are plummeting, so at least you don't have to worry about getting suddenly priced out.
· L.A. Specialty Boutiques Rocked by Shutdowns [WWD]
· Discontinued: Sergio Rossi on Melrose Place Already Gone [Racked]
· Madison and Diavolina Moving to West 3rd Street Mid-2009 [Racked]