Patricia Field reveals all on her departure from her retail store

Over the past 48 hours, the closing of Patricia Field's boutique on Bowery has been the talk of the town in the fashion industry. Many rumors have swirled regarding her alleged retirement, why she was closing the boutique, and what her next moves would be now that her store will no longer be a force in her life. In an exclusive interview with FashionUnited, Field discussed the reason behind shuttering the doors on her boutique after 30 years, and what her next steps will be.

"First off, I'm not retiring," Field said. "I'm selling my property. I've got a great offer on the table, and I can get away from it with a handsome profit. You heard that straight from the horse's mouth."

The fashion icon, who won an Emmy for her costume design work on HBO's "Sex and the City," received an offer from Thor Equities, a New York-based private equity firm that specializes in commercial real estate. After 50 years in business, she felt like it was time.

As for why she is no longer operating a retail store, Field said "I have many other things going in my life. I have a whole other career in styling and movie work." In addition to her work "Sex and the City," Field also received an Oscar nomination for costume design for "The Devil Wears Prada."

"The greatest thing for me is when I'm on the floor with my clients, and they tell me how much they love the store."

The decision to discontinue operating a retail store and sell the property wasn't an overnight decision either. "As my property has increased in value, I've gotten many offers over the last few years to buy the real estate. Recently, I really started to take it seriously," Field explained. After years of growing her business, Field admitted that the store was getting too big to handle efficiently, so that was part of the reason she decided to step away from owning a retail store.

In terms of what she'll miss the most, her clients will always have a place in your heart. "The greatest feeling for me is when I'm on my floor with the clients, and they tell me how much they love the store, and how there is no other store like it in the world," Field said.

Over the years she has worked with big name celebrities like Debbie Harry, Missy Elliot, Miley Cyrus, and Beyonce Knowles, describing Knowles as someone "whom she highly respects." She began dressing Knowles during her teenage years when she was a member of Destiny's Child.

When asked about the biggest highlight of her career Field replied "When I opened my first store in 1966." Over the years, Field would change the location of her store several times. In 2000, she bought the property that her current store is housed at, which she calls "a very fortunate decision" given how much the property has risen to in value.

While she might not have her retail store anymore, she certainly won't be bored. She has plans to continue working in film and television as a stylist. She also recently did a project for an Italian lingerie company, and she even designs capsule collections for Crocs.

The big question that has been on everyone's mind is whether or not Field would return to do a third "Sex and the City" movie if one was made. She's certainly not closed off to the idea saying that "I would have to look at the script. I'm not saying yes, and I'm not saying no. I couldn't give an answer without seeing the script."

Regarding the final days of her store, Field said that a liquidation sale will happen sometime after the holidays, and she'll finally close the doors sometime between March and April of next year, although she has no exact dates in place for anything yet.

New York City is losing a fashion monument with the closing of Field's boutique, but the talented lady will still be around to give us her flair between her television and movie projects. The city's retail scene may have suffered a loss, but Field's creative genius continues on.