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On March 26 in 1986, Gianni Versace flew from Milan to Chicago to christen the newest Versace store at the time, located at 101 E. Oak Street. The store fared well (from what we understand) until around the turn of the millennium when the economy started to go sour and eventually closed.
From what we've been hearing, Versace has wanted to expand their presence now that the economy is better and the future Luxury retail is upon us. For instance, this week, Versace opened an "opulent" store on Mercer Street in SoHo after only three weeks after the announcement that the store was opening. Now, we ask ourselves, is Donatella opening a store on Michigan Ave at Oak Street?
[The vacant space on Michigan Ave at Oak Street previously occupied by Dennis Basso]
No official announcement has been made, but like New York, we have reason to believe Versace will be taking the now vacant Dennis Basso space at 980 N Michigan Ave. From what we heard over the weekend, there had been discreet signage put up inside the store even though the "for lease" signs in the windows remain and calls to the leasing parties returned no results.
[Click to enlarge this iPhone photo we used nightcap to capture]
Early tonight, we walked by the storefront ourselves, peered into the dark (almost too dark to see), cavernous space. Lo and behold, we see what appears to be the head of Medusa, a greek goddess known for hair made of snakes and turning onlookers to stone--the Versace logo.
· Dennis Basso Will Close in March; Furs on Sale For Up to 80% Off [Racked]
· Versace's Opulent New Boutique Has Landed on Mercer Street [Racked]