Less than a year ago, Rag & Bone opened its very first store on Madison Avenue. The location, a former Chase and previously the Bank of New York, was gutted, renovated, and celebrated in a lengthy WWD article. And now it's closed.
A tipster pointed out that both the signage and flag are missing, and there's no mention of the shop on Rag & Bone's store locator. We were 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."
To be fair, the two publications that first announced Rag & Bone's move to Madison, the Wall Street Journal and WWD, never addressed the length of the lease. (The WSJ even concluded their story with a note that "lease terms at 909 Madison weren't disclosed.)
However, there wasn't really anything that indicated the store was short-term, and the major revamp it underwent before opening seems like a lot of effort for just a pop-up. Regardless, we've been assured they're on the hunt for a new spot.
Update: GalleristNY reports that the building's new tenant will be Dominique Lévy, a three-floor art gallery.
· Rag & Bone's Madison Avenue Store Now Has a Men's Floor [Racked NY]
· Rag & Bone's Madison Store Sure Does Look Like an Old Bank [Racked NY]
· Rag & Bone Will Move into a Former Bank on Madison Avenue [Racked NY]