Fred Segal Plans Global Expansion
Paul Blum, formerly of Juicy Couture and David Yurman, has been hired to expand the famed L.A. retail brand into global lifestyle centers.
Fred Segal is going global. The famed L.A. retailing pioneer, which was acquired by media and licensing company Sandow in 2012, is set to open up "lifestyle centers" worldwide in the next five to seven years, according to WWD.
Leading the charge is newly hired CEO Paul Blum, former CEO of Juicy Couture and David Yurman. Blum says social media will play a relevant role in the lifestyle centers, explaining, "What's most important is the social aspects of it. People want interaction. I believe the new definition of luxury is a combination of unique experiences and social interaction in an environment that's pleasing from a design perspective."
The centers -- 10 planned locations in total with the first one likely to open within the year -- will revitalize Fred Segal's original concept by incorporating fashion, dining, entertainment, cultural events and wellness programs into a retail fashion and accessory environment. Though Blum didn't disclose where the first opening would take place, Sandow currently has licensing deals to open Fred Segal centers in Tokyo and at the SLS Las Vegas Hotel & Casino when it opens in August.
The original Fred Segal stores in West Hollywood and Santa Monica are not owned by Sandow, and will therefore not be impacted by the expansion.
In October, Fred Segal, under Sandow, opened a location at the new Tom Bradley International Terminal at LAX.