If you're familiar with shopping in Boston, you've probably been to Downtown Crossing. The home of Filene's Basement, it's right in the center of town next to Boston Common.
Liz and I stayed right there at the Hyatt Regency when I picked her up at the airport a year and a half ago. That was the famed "Weekend of Pachelbel's Canon", right before we got engaged. Dang, that's a good story - remind me to tell that one sometime soon.
Anyway, Downtown Crossing was the home of the flagship Filene's department store until last year, when it closed after 116 years in business due to the whole Macy's taking over the world thing.
So anyway, apparently this Spanish clothing company named Zara is moving in to Downtown Crossing - and also the former Emporio Armani store on Newbury Street.
After a little internet searching (okay, wikipedia) I saw that they're also just about to open at the Hollywood and Highland mall in Hollywood, CA, another of my old stomping grounds.
Wow, who are these people, and why have I never heard of them before?
The Boston Globe Spanish fashion chain Zara becomes the first to sign on for Filene's site By Jenn Abelson, Globe Staff June 13, 2007
Spanish retailer Zara plans to open a store at the former Filene's building in Downtown Crossing, making the fast-fashion merchant the first to sign on with the $625 million redevelopment of the historic site, according to local officials.
Zara, which currently has no stores in Massachusetts, is opening this year in the Natick Collection and taking over a three-story shop next year on Newbury Street at the former Emporio Armani. Zara is a step above cheap chic rival H&M, which already has a store in Downtown Crossing, and Zara's entry will help elevate the reputation of the struggling shopping district, retail analysts said.
The redevelopment of the Filene's flagship, shuttered last year after Macy's took over the New England chain, has garnered significant interest from merchants. Developer Vornado Realty Trust has already expanded retail to four floors above ground (the plans initially called for three) along with Filene's Basement to operate on two floors below ground.
Construction is expected to begin this fall and the massive project is to include a 38-story tower, condominiums, hotel, office space, and retail stores.
"It's a great endorsement and it speaks to the power and opportunity of the market in Downtown Crossing to have someone like Zara place their store in this location," said Kristen Keefe , retail sector manager for the Boston Redevelopment Authority. "It's a great win for the district and it speaks volumes that more and more retailers are recognizing the strength of Downtown Crossing." Photo Gallery Downtown Crossing through the years
Keefe declined to comment on details of the deal. Zara also would not discuss the Downtown Crossing site, but spokeswoman Rocio Diaz Fernandez said, "For Zara, Boston is one of its target markets for expansion in the US and the company was looking for the best premises in the city. Boston fulfills all the requirements considered essential to the company."
New York firm Vornado Realty Trust did not return calls seeking comment. At the redeveloped Filene's site, Zara will be joined by Canadian merchant Club Monaco, according to a local official briefed on the deal who asked not to be identified because the agreements with Zara and Club Monaco are not yet finalized. A Club Monaco spokeswoman said the company "isn't scheduled to open a store."
Zara, which is owned by publicly traded firm Inditex SA, opened its first store in 1975 and now has more than 1,000 worldwide. The first shop in the United States opened in New York in 1989 and today there are 25 nationwide. The Spanish chain, along with rival H&M, pioneered the concept of fast fashion that has rapidly grown in popularity in recent years.
It's a lean business model that enables Zara to manufacture merchandise and get the garments on the shelves worldwide within two weeks. Clothes are dispatched twice a week to Zara stores, giving a constant renewal of fashion offerings and helping to drive frequent traffic, according to retail analysts.
"Their brilliance is getting from design to the floor in a matter of weeks," said Candace Corlett, a principal with retail consultancy WSL Strategic Retail in New York. "Zara isn't just cheap chic. It's better chic. Better fashion and price points that are higher than at H&M."
Zara's expansion in Boston reflects how merchants are recognizing the city's interest in fashion and the area's growing disposable income, said Madison Riley , a retail analyst with Kurt Salmon Associates. The arrival of stores like Barneys New York and Jimmy Choo in recent years underscores the growing importance of the Boston market. The city is hoping to capitalize on this interest to improve the retail mix and image of certain shopping districts -- with Downtown Crossing at the top of the list.
At a recent retail conference in Las Vegas, Mayor Thomas M. Menino courted department store JCPenney and North Carolina specialty grocer Fresh Market to locate at the new project in Downtown Crossing. Local officials who met with Vornado said the developer is open to talking with these potential merchants. Officials for JCPenney and Fresh Market said the retailers are looking to expand to the Boston market, but could not talk specifically about the Downtown Crossing site.
