Thursday, December 18, 2008

Many Kira Plastinina U.S. Stores Close

Have you noticed stores closing around you? If you live in NYC you sure notice. The first thing I noticed was the Starbuck on my street that closed many months ago. I was sad. And confused. It was always busy, perfect location, by the trains, it shared the space with a deli shop, it was weird how that location went, but the starbucks around the corner stayed? Most likely it was a rent situation. And many companiesare facing rent problems. Rent going up. Space lost. Ironically right down the street from where that Starbucks was True Religion is suppose to be opening?
It is a smaller space, but it is interesting to watch new stores come in and other's say byebye.

This post by David Moin on WWD might remind you of brands who have build them self too fast, with not enough sales and ego control.

Kira Plastinina U.S. Stores Face Closureby David Moin
Posted Thursday December 18, 2008
From WWD Issue 12/18/2008

For Russian teenage design phenom Kira Plastinina, it looks like a quick rise and fall in the U.S.

U.S. sources close to the company said many, if not all, of the 12 Kira Plastinina stores in America could close soon.

Difficulties were pegged to the declining fortunes of Plastinina’s father, Sergei Plastinin, a tycoon in the dairy and fruit business in Russia, who bankrolled the U.S. rollout and was heavily invested in the Russian stock market. Shortcomings in how the chain was operated and the impact of the recession in the U.S. were also cited. To read full article visit WWD here.

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