Less than a year ago, Rag & Bone took over a former Chase bank location, gutted it and opened their much anticipated first Madison Ave. location. And now, out of nowhere, it's closed!
Let's examine this. The two publications that first announced Rag & Bone's Madison opening were the Wall Street Journal and WWD, but the length of the lease was never discussed. (The WSJ even concluded their story with a note that "lease terms at 909 Madison weren't disclosed.)
But, their stories didn't indicate that the store was short term either. It seems like an awful lot of work for a pop-up. Why revamp an entire space if you don't plan on staying? We will all have to stay tuned for Rag & Bone's next move.
GalleristNY reports that the building's new tenant will be Dominique Lévy, a three-floor art gallery.