Established in 2004, Closed Down in 2009 -- Iridesse Leaving Behind Many Prime Retail Locations
Iconic jewelry retailer, Tiffany & Co. (NYSE:TIF
), is in the process of discontinuing its Iridesse stores; a spinoff chain of 16 pearl jewelry stores located in FL, NJ, NY, PA, CA, IL, MA, and VA.
Tiffany spokeswoman, Linda Buckley, said the company is closing the stores as inventory is liquidations and lease negotiations are completed with landlords, according to JCK Online.
Reportedly, the company "still very much believes in the concept," but the current economic climate put the stores into a need-to-close position. According to the Associated Press
, Tiffany Spokesman Mark Aaron said the Iridesse chain has been operating at a loss since it was established in 2004.
According to CoStar Tenant, the typical Iridesse store is 1,500 to 2,500 square feet and is located in an upscale mall.
The 16 stores being closed are located at:
This article appears in CoStar's Retail News Roundup: Mar. 15 - 21, 2009,
- International Plaza, 2223 N. West Shore Boulevard, #267, Tampa, FL
- The Gardens Mall, 3101 PGA Boulevard, #G-111, Palm Beach Gardens, FL
- Town Center at Boca Raton, 600 Glades Road, #1066, Boca Raton, FL
- Aventura Mall, 19501 Biscayne Boulevard, #1521, Aventura, FL
- Westfield Garden State Plaza, One Garden State Plaza, #1131, Paramus, NJ 07652
- The Westchester, 125 Westchester Avenue, White Plains, NY
- Mall at Short Hills, 1200 Morris Turnpike, Space B-252, Short Hills, NJ 07078
- The Pier Shops at Caesar's, One Atlantic Ocean, #BR 144, Atlantic City, NJ 08401
- The Plaza at King of Prussia, 160 North Gulph Road, #2076, King Of Prussia, PA
- Westfield Valley Fair, 2855 Stevens Creek Boulevard, #1099, Santa Clara, CA
- The Oaks Shopping Center, 428 West Hillcrest Boulevard, #T023, Thousand Oaks, CA
- Westfield Century City, 10250 Santa Monica Boulevard, #686, Los Angeles, CA
- Oakbrook Center, 296 Oakbrook Center, Oakbrook, IL
- Woodfield Shopping Center, E-323 Woodfield Center, Schaumburg, IL
- Copley Place, 100 Huntington Avenue, #A001B, Boston, MA 02116
- Tyson's Galleria, 1760 International Drive, Suite 2426, Mclean, VA
CoStar's weekly column by senior news editor, Sasha Pardy, covering expansions, new concepts, store closings, bankruptcies, cutbacks, acquisition, mergers, sales, loans, shopping center development activity, personnel changes, sustainability, green building, and more in retail real estate.
This week in the Retail Roundup, CoStar reports on expansions or new concepts
at Target, Costco, Sony, Comcast, Noodles & Company, Burger King, and Stage Stores; new retail development news in
TX; acquisition, merger, loan or sale activity
at Charlotte Russe; closings, cutbacks or bankruptcies
at Ritz Camera and Boaters World, Sportsman's Wearhouse, Iridesse, S&K Menswear, Blockbuster, PacSun, Borders, and Robbins Jewelry; personnel announcements
at Rouses Supermarkets and CompUSA; and green building
at JC Penney, Transwestern, Meijer, and Prime Retail.