Men's Vogue: What inspired you to choose a downtown location for your new Hermès store?
Robert Chavez: We were always interested in a second location in the city but weren't quite sure yet where the right place would be. Then we saw the conversion of old office buildings to condominiums. We had known that there was a built-in business client base with thousands and thousands of people that come into downtown. And we knew that there was a tourist factor there, between the South Street Seaport, the Stock Exchange, and other points of interest. And this, the conversion to condominiums, was the third point of the triangle that caught our interest. Suddenly, it dawned on us that now you are going to have a residential community that is going to keep growing. And so we decided that we wanted to be at the forefront of that redevelopment, and we wanted to make our imprint and support that redevelopment.
MV: Do you see Hermès as having a positive effect on the neighborhood at large then?
RC: Well, we had it in the back of our mind, but it wasn't a mission. Then somehow, all of a sudden, Downtown really began to develop and came to the forefront of our planning process. Not only did we feel it was a good idea, we felt it was the right idea. The right thing to do for New York, and we thought why not be the first to give a vote of confidence to downtown? And given the fact that Hermès is building a home there, I think a lot of people will think more positively about going back. And just even on a personal note, as I said, I live downtown, and we were all touched by what happened in 2001. There's nothing more important than to have that voice, or be able to send that message, just so that people will think about doing their part to redevelop the area.
MV: So you see this as a reciprocal relationship then?
RC: I think so. The Philippe stark building and the fact that we are putting a boutique there is a pretty strong message. People who already live in the building have said, ?Oh my god, we are so excited about having a Hermès boutique in our building!? Just having everyone together in that neighborhood, it really uplifts the whole experience that clients can have. Like I said, you can be a worker during the day who comes there during your lunch hour, or you can come down at night and live in one of those buildings now.
MV: And why not choose one of the more established districts, such as Soho?
RC: Somehow Soho just didn't feel right for us. Our gut instinct just told us it wasn't the right place. What was once an artists colony, was now starting to look like a shopping mall. Also, it seemed to me that it was much more a weekend place, and I wasn't convinced that it was a place we would do a lot of business Monday through Friday. If you can afford that type of investment, you can live on two days a week, but it's not really what we wanted to do. We were looking for something that had a week-long ability to bring clients into the shop. And we looked at all the different areas in Manhattan? 5th Avenue, Madison Avenue, Meatpacking District, even Chelsea and the Village. You look at what's happening even on Bleecker Street, and even that's a little unbelievable. So we just waited. We were patient.
MV: Was the public or industry reaction a concern, as you were taking such an enormous risk?
RC: It really was fascinating to watch how people reacted. They were really surprised, but in a good way. I guess the thing that made us feel really good, was about five months after we announced our new location, Tiffany announced they would be opening a store literally around the corner from us. And right now, downtown, where do you buy anything that is a designer house label? You go to Century 21. They have been wildly successful for years and years, so that alone tells you that there is a customer that is looking for that kind of product. We thought it was time to at least get the ball rolling.
MV: Are there any other competitors making their way down there?
RC: Not that I know of, but I think it's just a matter of time though.
MV: How did you come to pick this particular building?
RC: We found this beautiful location: 15 Broad Street, right across the street from the Stock Exchange, and it was literally the first place that we looked at, and I really would have to call it love at first sight. It was built in 1928, and is connected to 23 Wall Street, which used to be the JP Morgan headquarters. Now today, as you know, it's a residential condominium, Downtown, by Philippe Starck.
MV: We hear that all of the construction materials were imported from Europe. Did you try to incorporate any elements of the neighborhood into the design?
RC: It's an Hermès store, simply in a different location. But one thing that evokes a little of the community is the mosaic tiling used on the floor. Right near the store is the convergence of every subway line in the city. I think of the mosaic tiling of the subway, and think you can relate it to the mosaic tiling in the store.
MV: How will the store differ from you other locations, to cater to the neighborhood?
RC: We will likely open earlier than most stores to capture clients before they have to be at the office, and we will probably stay open a little bit later. We think that Saturdays will become more and more important as the local community grows.
MV: Tell me about some of the specialty items that will only be found in the Downtown location.
RC: We will do a tie that will be only available at Wall Street, for its opening. It will have something to do with the stock market, probably either a bull or a bear. We are also going to be doing a special scarf that will have the 15 broad street address imprinted on it, as well as one of a kind crocodile briefcases, crocodile desk set, and other things that would appeal to a business person. Last, we have a wonderful collection of furniture in a variety of woods and leathers. We think that there will be a big business for that.
MV: How would you personally sell this store if you were talking with a trader downtown?
RC: Being a New Yorker, I really believe that there are some New Yorkers that never go above 14th street. People have their lines of demarcation. Hermès's two neighborhoods are so different, I think there's probably the least possible amount of crossover. Plus, there are a lot of people on Madison Avenue that never go downtown to the Financial District. And when you think about the influx of people coming from Long Island, New Jersey, or the other boroughs, converging on the subways, rail stations, or ferries, that work downtown then leave and go home to other areas…they rarely get up to Madison Avenue. We think this will be a great option for them.—NICHOLAS MOSQUERA
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