- Kristopher Fraser |
Leather goods brand Ghurka has found a new home on Madison Avenue. They have moved their boutique from the smaller space at 781 Fifth Avenue, to a large space at 831 Madison Avenue, with the official opening schedule for today.
The new store is 2000-square feet with 16 foot ceilings. Ghurka is hoping that the new retail space will help them even out their number of men's and women's sales. In contrast to most other leather goods brands, women's sales make up only 20 percent of Ghurka's sales. They are currently projecting women's sales will jump 25 percent with the new store location.
Ghurka moves to bigger location on Madison Avenue
While Madison Avenue is considered a top retail destination, lately their retail spaces have been emptying out as tenants look for cheaper rents. In May 2016, *The Real Deal *reported that Madison Avenue had become one of the softest retail markets in the country with 17 percent of the ground floor space being listed or quietly marketed.
Still, Madison Avenue is considered prime retail traffic, as it is home to other luxury retail pstores including Barneys New York, Alexander McQueen and Akris. With their smaller store proving to be a success, this is just a matter of Ghurka building on the retail traffic they already saw. With a larger space, they'll be able to stock more inventory and offer customers more products.
While the retail climate is temperamental right now, leather luggage and goods is expected to garner 94.7 billion dollars by 2020. This could be promising for Ghurka.photo: via Ghurka.com