M.Fredric Closes Two Stores, Forecasts Future Expansion
It’s a time of consolidation and expansion for M.Fredric, a prominent independent, specialty retailer based in Agoura Hills, Calif.
On Feb. 28, the company debuted a 600-square-foot men’s store at The Promenade at Westlake retail center in Westlake Village, Calif., a short drive away from Agoura Hills. The men’s shop is an expansion for the M.Fredric location, which has been doing business in Westlake Village since 1998. M.Fredric co-owner Fred Levine said the store found room for the boutique after clearing out warehouse space behind the store.
M.Fredric also shuttered a couple of its prominent locations recently. On Feb. 28, it closed its store at The Commons at Calabasas in Calabasas, Calif. On Dec. 31, the M.Fredric store at The Grove retail center in Los Angeles closed. In September, the M.Fredric store at the Encino Marketplace retail center in Los Angeles’ Encino neighborhood also closed.
All three stores closed after their leases expired, Levine said. M.Fredric now operates six locations, all in Los Angeles County, which include Westlake Village, Malibu, El Segundo, Studio City and Marina Del Rey. The retailer also runs an outlet store in Agoura Hills.
No more stores were forecast to be closed in 2011 or 2012, according to Levine. The retailer forecasts announcing the debut of two more M.Fredric locations in April.
“We’re replacing the stores where leases expired,” he said. He also noted that business is slowly improving. “We’re seeing an upswing. This could be a recovery year. 2011 will still be a challenge. But slowly and gradually, it is on an upswing.”—Andrew Asch
