Here we go. Get prepared to see many more store closings in the upcoming months. Famed L.A. boutique, Tracey Ross, is closing on New Year’s Eve because of fallout from the recession.
Ross first opened her
shop, on Robertson Boulevard, in 1990 before moving to the
Sunset Plaza district in West Hollywood in 1996, where her iconic,
1,600-square-foot boutique has drawn a dedicated following from
celebrities such as Kate Hudson and Courtney Love.
it’s the economy,” Ross said in explaining her decision. “I’m very
proud of what I’ve done here, but I’m just over it right now. After 18
years, you know when it’s time to exit gracefully and with dignity.”
Larger chains that do a higher volume of business are offering steep
discounts, putting specialty boutiques like Tracey Ross at serious risk.
“When wealthy customers who can afford to pay retail are getting 80
percent off at Saks or demanding discounts…it makes it impossible for
smaller boutiques to compete,” Ross said. “I don’t need to be a
showroom, and that’s what I was becoming.”
Very sad indeed.
Source: WWDSee the Top Ten Summer 2016 Trends for Women Over 40