Woolrich to expand SoHo store
Outdoor apparel company Woolrich has announced plans to expand its SoHo store, nearly doubling the size of the Wooster Street location.
The New York City store, which first opened in 2014 and marked the company's first North American flagship location, will expand from its current 1,900-square-foot, two-floor layout to include another two-floor, nearly 8,000-square-foot space next door at 121 Wooster St.
The added space includes a 4,100-square-foot ground floor and a 3,700 square-foot basement area.
Earlier this September, Woolrich sold a majority stake to the Luxembourg-based investment company L-Gam Advisors Sarl , and this expansion marks a continued push for the brand's growth under the company.
"They have a new investment firm involved in their business and the brand has been on the upswing in terms of consumer interest," Joel Isaacs, the founder of Isaacs and Company, who represented Woolrich in the lease, told Crain's. "They want to capitalize on that and they needed more space to show the breadth of their line."
Woolrich will continue to lease its store at 125 Wooster St., but, according to Crain's, sources say that Japanese sportswear group Goldwin Inc. has plans to take over the space after Woolrich exits next year. Goldwin, Inc., which acquired a minority interest of Woolrich International in 2017, increased its stake earlier this year.
Woolrich also announced that it has signed a lease for an approximately 6,500-square-foot office at 121 Varick St. and has plans to transform it into a showroom dedicated to wholesale marketing.
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