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Abbot Kinney's bungalow-style boutiques are a huge part of what gives the street its charm, but apparently, they're not the best real estate option in a down economy. Just months after opening in July, high-end vintage shop Parker Pettit is set to downsize from a crisp white cottage to a smaller, street-front space between the Abbot's Habit coffee shop and Abbot Pizza Co. According to a staffer, the move is down to prohibitive rents and the fact that stairs leading up to the front porch dissuade impulse browsers.
Jeannie Y, known for its vast selection of Japanese denim, is also ditching its airy digs for a space on Santa Monica's Main Street. The move was set to happen in January but has been postponed due to lack of a replacement tenant. We also noted a For Lease sign outside of Taj Taj jewelry's cottage, but the shop was closed when we tried to pop in for comment.
The upside to all this shop swapping is that retailers are looking to streamline their inventories—which, naturally, means some pretty good moving sales. Parker Pettit is offering 50% off a chunk of their bohemian vintage wares, with further discounts due to be taken at tonight's First Friday block party. Jeannie Y has also flown into a discounting frenzy, offering markdowns on just about everything in the store.
· Storecasting: Parker Pettit on Abbot Kinney [Racked LA]
· Parker Pettit [Official Site]
· Jeannie Y [Official Site]