Ian Schrager, owner of trendy hotels, including the Paramount and Royalton in New York and the Mondrian in Los Angeles, is trying his hand at retail. Beginning with 15 hotel stores, called “Shop,” Schrager will offer merchandise designed by Philippe Starck, creator of Schrager's hotel dŽcor.
Next year, Schrager plans to open stand-alone shops, the first of which will appear at his new Manhattan location, the Hudson, in October. The stores, Schrager claims, will not merely be gift boutiques, but rather a “new business.” However, previously announced plans for Schrager and his hotels to partner with the trendy Parisian boutique, Colette, fell through when the boutique owners (Colette and daughter, Sarah) realized the project was too ambitious for their small team.
Schrager expects that his first Shop at the Hudson, supplemented by a catalog and web site, will generate about $30 million in revenue in its first year.