Luxury Boutique B.NY Closes
Pioneering fashion boutique B.NY was scheduled to close its doors by the end of 2009, according to Gregory Niebel, the store’s president.
Niebel made the decision to shutter the retail outlet because many of his wealthy clients curtailed much of their fashion consumption in 2009. “My customer had been recession-proof,” he said of past economic dry spells when rich consumers might have refrained from shopping for a few months. However, for much of 2009, many of Nieshy;bel’s clients seemed to have shut their wallets. “It’s not fashionable to spend,” the retailer said.
The 20-year-old Santa Monica, Calif.shy;–based store was one of the first in Los Angeles County to offer avant-garde Japanese designers such as Yohji Yamamoto and Issey Miyake. Average retail price points ranged from $1,200 to $1,800.
Niebel said he would take some time off before announcing what he plans to do next. At press time, no business had expressed interest in moving into B.NY’s 2,400-square-foot space at 2449 Main St., which is part of the Frank Gehry–designed Edgemar compound. It houses boutiques, restaurants and the Edgemar Center for the Arts.
As B.NY closes, one future path for luxury retail is being played out across the street, where Trunkshow LA debuted in June at 2430 Main St. Trunkshow LA co-owners Jennifer Cunningham and Jennifer Mazur sell overstock from popular contemporary labels—such as Mike & Chris, Alexis La Montagna and Young, Fabulous & Broke—for 50 percent to 90 percent off the retail price. It is designed for the woman who doesn’t like to shop at sales, discount shoppers and women who shop at luxury boutiques.
Mazur is so bullish on the concept that she plans to open another Trunkshow LA in the Los Angeles area in 2010.—Andrew Asch
