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Rag & Bone on Madison Avenue Mysteriously Closes
By: Jennifer Diamond Jan. 17, 2013
Less than a year ago, Rag & Bone took over a former Chase bank location, gutted it and opened their much anticipated first Madison Ave. location. And now, out of nowhere, it's closed!
Racked was told by the brand that the lease was only "short-term," and were given the following comment from David Neville: "Madison Avenue was a one-year pop up lease. In line with our 2013 vertical strategy, we are currently in search of a new location."
Let's examine this. The two publications that first announced Rag & Bone's Madison opening were the Wall Street Journal and WWD, but the length of the lease was never discussed. (The WSJ even concluded their story with a note that "lease terms at 909 Madison weren't disclosed.)
But, their stories didn't indicate that the store was short term either. It seems like an awful lot of work for a pop-up. Why revamp an entire space if you don't plan on staying? We will all have to stay tuned for Rag & Bone's next move.
GalleristNY reports that the building's new tenant will be Dominique Lévy, a three-floor art gallery.
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