NEW YORK — The paint is barely dry on Oscar de la Renta’s new Madison Avenue store, but the designer already has secured space for a second location in Miami’s Bal Harbour Shops.
The company said Friday it will open a 2,100-square-foot store at the upscale mall at the end of January. A previously planned third shop is set to bow in April at the Wynn Resort in Las Vegas.
Alex Bolen, chief executive officer of Oscar de la Renta, said no other U.S. stores were “in the works.”
“Our real ultimate goal is to open stores overseas,” Bolen said. “Could we pursue another store or two in the U.S.? Yes. But I can’t imagine much more than that.”
The ready-to-wear firm is said to generate annual retail sales of $650 million, including about 23 licensed products. That includes about $100 million from its collection business. International sales only account for 10 percent of the total business.
Like the Madison Avenue store, the Bal Harbour unit will showcase the designer’s ready-to-wear, fragrances, sunglasses and select licensed products. The Miami store will be in a space formerly occupied by Bruno Magli, and is adjacent to Versace and Max Mara. The interior will be similar to the Madison Avenue location.
“This is a very opportunistic situation,” Bolen said. “We had discussed the possibility of going into Bal Harbour earlier this year with the Whitmans [the family that owns and runs the Bal Harbour Shops], but decided to go with Madison Avenue first.”
While the Miami store should prove to be a more seasonal business than New York, the clientele is similar in that both attract an international customer base, Bolen said.
“It is a high-profile tourist destination worldwide.” he added. “We will use the feedback from those international customers and have things right to pursue.”