Retailer Stone Island is converting its pop-up location in Soho into a permanent home.
The Italian clothing company signed a 10-year lease to stay in 3,750 square feet at 41-43 Greene Street, a source familiar with the deal told Commercial Observer. The clothing company specializing in men’s outerwear first opened a pop-up store in the Thor Equities-owned retail condominium this summer.
But it has decided to make the location between Grand and Broome Streets its North American flagship, the source said. The store closed last week, fashion publication Racked reported. Stone Island will reopen after the holidays, following a renovation, the source said.
Stone Island was originally slated to open its flagship in Los Angeles, according to Women’s Wear Daily, which first reported news of the long-term lease. Soho’s pop-up location had been successful, however, and Stone Island opted to keep the 41 Greene Street location for the long run, founder Carlo Rivetti told WWD.
Thor scooped up the retail condo in March for $10.5 million, as CO previously reported. It’s one of the several properties the landlord has picked up in recent years along the popular Soho shopping strip, including 11 Greene Street, 41 Greene Street and 138 Greene Street. Most recently, Thor bought the retail condo next door to 41 Greene Street in partnership with Premiere Equities for $12 million.
A Thor spokesman did not immediately return a request for comment.