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More big moves at Fred Segal. In addition to LAX and Vegas openings, and SaMo shutters, the legendary retailer is set to lead a "major reinvention of the luxury shopping experience," according to its parent company Sandow. Thanks to a major investment, Sandow plans to open a slew of lifestyle centers in the US and beyond within the next five to seven years. The concept shops will cover a whopping 10,000 to 50,000 square feet.
"We see in Fred Segal a special opportunity for a lifestyle brand that has already established itself as one of luxury, fashion and the always imaginative California spirit," Rick Hess of equity investor Evolution Media Capital tells WWD. Fred Segal's new CEO Paul Blum (Juicy Couture's former CEO) will lead the retailer's new direction.
Expect the first of ten Fred Segal lifestyle centers—which will "interweave hip and up-and-coming fashion brands, dining, cultural, wellness and fitness experiences"—to be revealed this year.
· Sandow Media Taps Paul Blum as Fred Segal CEO [WWD]
· Photos: Inside LAX Tom Bradley's Fantastical Fred Segal Shop [Racked]
· End of an Era: Ron Robinson SaMo Officially Closes on May 31 [Racked]
· Now the Seven Fred Segal Stores at SLS Have an Opening Date [Racked Vegas]