The international consultancy Colliers International has given its advice on the deal between Fashion House and Iridato Group regarding the lease of four floors with total area exceeding 6,000 sq. m. The tenant plans to breathe new life into the original design of Fashion House planners, turning it into a major trendsetter in the city.
Saint-Petersburg, 31 August 2020 – A long-term lease agreement has been signed between Fashion House and Iridato Group. At the first stage of reconception slated for completion by the end of 2020 the tenant will present a citywide fashion space filled with limited editions of more than 50 world streetwear & lifestyle brands as well as best collections of Russian couturiers.
Renewed interiors of Fashion house’s famous showroom will again be used to parade designer clothes, including capsule collections from niche brands. The showroom’s functionality will be further widened with thematic master classes, lectures, film shows and other edutainment events held here.
At the second stage upper floors of the building will be remodeled. Part of the space will be allocated for designers and will feature showrooms, clothes making and repair studios, offices of fashion brands and co-working venues for representatives of creative trades. One of the floors will be occupied by a food hall that will gather best gastronomic concepts of the two capital cities.
“We’d like to breathe new life into the original concept of the Fashion House founders by creating a citywide vogue space flaunting limited editions of global streetwear & lifestyle brands as well as best collections of Russian designers,” says Oleg Oleynikov, Managing Partner of Iridato Group.
“The legendary past of the Fashion House with its exciting background means great responsibility for each refurbishment stage and for the future outcome. On the one hand, it’s important for us to retain the Fashion House’s trendy image and uniqueness, but on the other hand, we should update its concept in accordance with more relevant trends in the course of the project delivery. Not only the brands and concepts on display inside the Fashion House will change; the building’s image and interior navigation will also be upgraded. We believe that all of these steps will impart the status of the city’s most fashionable place to the Fashion House,” comments Tatyana Ignatyeva, Fashion House Manager.
Irina Tsarkova, Director of Retail Agency Department at Colliers International, points out that the market keeps constantly developing and transforming under the impact of both external and internal factors – fluctuating demand, customer’s behavior and interests. Therefore reconception is a relevant challenge faced by the owners of most retail properties in St. Petersburg – both the likes of Fashion House with its half-century history and relatively new developments that have barely turned 10.
“For our part, we are always ready to professionally support those partners who have enough resolve to launch changes for the better, given our huge experience in this segment: not only is the team of Colliers successful in market research and surveying; it also boasts expertise in shopping malls’ facility and property management – as of today we take care of 24 facilities in 13 cities of Russia. We keep in touch with developers, tenants and landlords on a daily basis, which helps up feel the pulse of ongoing changes and stay all ready for them,” adds Ms. Tsarkova.
“The Fashion House reconception commenced last year with the coming of UNIQLO, a Japanese anchor tenant for two lower floors, and now it is gathering momentum as more ambitious transformations are launched. This will definitely give a new impulse to the development of this facility and rejuvenation of Leo Tolstoy square whose potential is not inferior to that of Piccadilly Circus in London,” comments Vladimir Kalichava, Head of Retail Tenant Representation Department, Colliers International