Leases  ·  Retail

Louis Vuitton to Return to Palm Beach

reprints


Louis Vuitton is eyeing a return to Palm Beach’s Worth Avenue, the island town’s high street retail corridor, after a brief absence.

The Palm Beach Development Review Committee approved the fashion brand’s request to open at 222 Worth Avenue. The two-story boutique space, which was previously occupied by the now-bankrupt fashion brand Escada, will total 5,010 square feet. The first floor will house a typical retail boutique, while the second will be dedicated to VIP customers. 

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New York-based East Gold Holdings has owned the 7,592-square-foot property, constructed in 1956, since 1998, when it purchased the building for $6.4 million.

The LVMH-owned Louis Vuitton has had a presence on Worth Avenue for about four decades, first opening at 251 Worth Avenue. In 2000, it relocated one block north to The Esplanade shopping building at 150 Worth Avenue, but shuttered the store last year.  

Worth Avenue has gone through somewhat of a shakeup in recent years. Last year, billionaire Ken Griffin, founder and CEO of hedge fund Citadel, bought a three-story mixed-use building at 125 Worth Avenue for $83 million.

In May, Ta-boo, a restaurant that had operated on the strip for more than 80 years, closed. World-famous chef Thomas Keller, the mastermind behind The French Laundry and the Surf Club, is taking over the space. 

Julia Echikson can be reached at jechikson@commercialobserver.com