TOKYO — The elm trees lining Omotesando Boulevard inspired the architects of Tod’s largest store in the world in Omotesando here, a 27,500-square-foot, seven-story building that cost a total of $130 million.
“Japan is one of the most important markets in the world for us,” said Diego Della Valle, president and chief executive officer of Tod’s SpA, who attended the opening earlier this month. “Our presence in Omotesando gives strong signals to our friends and business partners that we are here to stay for a long time.”
The building’s structural details resemble elm tree branches, with glass windows varying in size and shape. The unique design, which represents an investment of roughly $130 million in real estate and construction, was created by architect Toyo Ito.
“We used concrete-made patterns in place of pillars and beams,” Ito said, explaining the building, which stands on the L-shaped site and has six sides. The building’s walls have 270 openings; glass plates were inserted in 200 of them and aluminum in the remainder.
The Omotesando flagship houses the boutique on the first, second and third floors. Parts of the third and fourth floors are slated for Tod’s corporate offices, while the fifth floor serves as the company’s showroom. The sixth floor is used for events, while the top floor accommodates a dining room, private meeting rooms and a roof garden.
The third floor features high-end products using materials such as crocodile, python and mink. A limited number of handbags using python and mink made exclusively for the Omotesando store are available for sale at 189,000 yen, or $1,837 at current exchange; an oblong tote bag is priced at 145,950 yen, or $1,417, and women’s leather jackets sell for 352,800 yen, or $3,425.
But not all the products carry six-digit yen price tags. On the first and second floors are women’s and men’s shoes ranging in price from 45,000 yen, or $437, to 62,000 yen, or $602. Wallets are priced at 34,000 yen, or $330, and up; mufflers at 39,000 yen, or $379, and up; and key chains at 15,000 yen, or $146.
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More than 100 guests, including Princess Takamado, attended a grand dinner party on the sixth floor hosted by Della Valle to celebrate the opening. Also on hand were former Gucci Group chief executive officer Domenico De Sole; Atsuko Kawahara, a model-turned-actress best known for playing Koyuki in the film “The Last Samurai,” and popular singer Yumi Matsutoya. Among top retail executives present was Kazumasa Koshiba, chairman of the Isetan Department Stores.
“Japan is one market which knows luxury brand and quality,” Della Valle noted. “High-quality goods will not be affected by levels of consumption.”
Della Valle said the Tod’s group — with its principal brand Tod’s, along with Hogan and the luxury clothing line Fay — posted sales of 371 million euros, or $497 million at current exchange, in the last business year. Entering this year, sales in the first nine months grew 15.8 percent to 331.6 million euros, or $444.3 million.
Asia is the fastest-growing market, with an 11 percent share of sales in the first nine months of the year, up from 7.9 percent a year earlier. Europe, excluding Italy, accounts for 28 percent of sales; the U.S. logs 12 percent, and the home market of Italy yields 49 percent.
“We have already opened two shops in China, in Beijing and Shanghai,” Della Valle said. “We plan to expand to about 20 stores in the next three to five years.”
Currently, the group’s distribution network comprises 104 directly operated stores worldwide. Of these, 22 are in Asia, including 16 in Japan.
Many of Tod’s’ outlets in Japan are in department stores. “We hope to maintain a close relationship with department stores,” Della Valle stressed, noting he anticipates a “double-digit” growth in the Japanese market in years ahead.