What the massive Starbucks opening in former Crate & Barrel says about retailing today
It doesn’t get any more obvious than this: A large, high-profile store once occupied by a national retail chain is becoming a large, high-profile store occupied by a national restaurant chain.With the opening next month of what will be the largest Starbucks in the world in the space that was built for and occupied by Crate & Barrel for 27 years until it closed last year, the cycle that is increasingly coming to define the retailing business has perhaps its most obvious example.
The four-story building was essentially the flagship for Crate & Barrel and served as much an advertising and marketing role as a traditional retail store role given the huge crowds of locals and tourists who regularly shop the Miracle Mile stretch. One has to assume the rent demands of the prestigious space forced the company’s hand when it came time for its lease renewal.
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