Caruso is reworking its tenant profile at Palisades Village to attract higher end brands, according to a April 22 Real Deal story.
Many residents may remember a December 2018 Hollywood Reporter story (“Rick Caruso’s New Pacific Palisades Mall Already Breaking Retail Records, He Says”) noted that although the mall had been open for only two months, it was a runaway success.
Caruso told THR that “the sales being produced out of this property are the best in the country per square foot.” He also noted that he had signed many of his hand-picked tenants to long-term leases, including jeweler Jennifer Meyer, Zoe and Tamara Mellon. (Zoe has since closed.)
The billionaire developer, who is now running for Mayor of Los Angeles, was quoted: “Everything is rolling out as I hoped. It’s an exceptional success.”
This past week, The Read Deal newsletter reported (“Caruso Buys Out Leases in Upscale Shift at Palisades Village”) that “Caruso is reworking its tenant profile at Palisades Village, in an effort to attract higher end brands.”
The story noted that each lease is for stores between 1,000 to 2,000 square feet. “Exiting the center via buyouts will be shops for clothing bands Madewell and William B + Friends, as well as homewares retailer St. Franks.”
Higher end? Move over Sephora Studio and Chanel because Byredo, a European luxury brand founded in Stockholm in 2006 by Ben Corham will “translate memories and emotions into product and experiences.” Offering upscale options, the store will sell mascara for $46, hand lotion for $75 and perfume for $196, according to its website.
Also moving in will be Aesop, which also offers skin care, body and hand, and fragrance. Aesop’s Miraceti Eau de Parfum, which is suited to all genders, seafarers, storytellers and idealists is $195 for a 50 mil. size. A 16.9 fl. ounce size of Reverence aromatique hand wash, in a bottle made from a minimum of 97 percent recycled plastic, is $40.
Also new: The Officine General, which was founded in Saint-Germain-Des-Pres in 2012 by Pierre Mahéo, has clothing for men and women, and also recycled denim. A recycled cotton twill jacket retails for $460 and recycled cotton twill Corie pants are $315. Women’s regular denim pants are $195, and men can pick up a T-shirt of lightweight French linen for just $160 or a cotton sweatshirt for $180.
In May 2021, Glossy reported that “The brand [OFFICINE GENERAL] will open two stores in New York this year and one in Los Angeles next year, with plans to open 10 total stores across the U.S. and other regions in the next three years. That’s in addition to the six stores it already has in Paris and London. Mahéo said he wants to expand the brand to other parts of Europe, including Germany, where it already has a wholesale and online customer. It’s looking to partner with a distribution company like LF Corporation to enter China, as well.”
Back in 2019, a local resident sent a letter to Circling the News explaining what residents wanted in this town:
“Pacific Palisades has always been a place for families. Parents come here for the schools, and they come here because they know they will be around like-minded people who value education and community.
We raise our children. As our children grow and go onto their own lives, the Palisades becomes a place for retirees. And, we still know each other and enjoy each other’s company.
It would seem that if someone were to develop a mall for this area, he/she would understand that the focus here is family.
Not everyone who lives in Pacific Palisades can afford ultra-expensive clothes or jewelry. And for many people, even if they have the money, they don’t feel the need to buy more clothing because of environmental concerns. Too much clothing ends up in landfills–and now it has been discovered that plastic fibers from clothing (that is not cotton or wool), may work its way into the ocean.
I hope the mall makes it, because we already know what it is like to have a street with empty stores.
We didn’t ask for grass that was dyed green or a scent sprayed in the mall and garage area. We didn’t ask for a $75 photo with a man in a bunny suit. Mr. Caruso, you asked what we wanted, and we told you, but you never listened.”