We hear that Michael Kors just inked a deal to take over the Emanuel Ungaro space on Madison at 67th Street. The Ungaro store quietly closed earlier this month after reducing prices 75% off.
The Northern Kors boutique, at Madison and 77th Street will remain open according, to our source. Michael Kors also has another boutique at Madison and 60th Street, which just opened 16-months ago and carries his jet-set Michael Kors line in addition to his lower lines, Kors by Michael Kors and Michael by Michael Kors. We don’t know if the former Ungaro location, which is just 1,600-square-feet, will carry all three lines. Calls to the Michael Kors press office were not returned.
We can’t help but wonder if this expansion into a Madison Avenue location is a way to take on Ralph Lauren, who has cemented a deep footprint into Madison. If so, Michael has his work cut out for him. Ralph is currently building a new 27,500-square-foot store to accent the 22,000-square-foot Rhinelander Mansion, which will be dedicated entirely to men’s wear.