Upscale Gentleman's Designer & Luxury Clothing Shop

New York, NY (New York County)

Luxury Clothing Store
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Asking Price: Get Financing: $410,000

Cash Flow: $185,061

Gross Revenue: $889,016

EBITDA: N/A

FF&E: $7,500

Inventory: $200,000*

Lease Rate: $6,150 /Month

Established: 1992

*not included in asking price.

Upscale Gentleman's Designer & Luxury Clothing Shop

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Business Description

Price recently reduced for a quick sale. This is an upscale gentlemen’s designer and luxury shop located in a tony neighborhood of New York City. It has been in business for 25 years with long term satisfied consignors and customers.

Have an eye for men’s fashion? This is the men’s boutique shop for you! This business has been a well- known source for discerning buyers of new or nearly new men’s apparel for over 20 years. The shop features men’s designer clothing including suits, jackets, pants, ties, and accessories sold on consignment.

This Manhattan luxury consignment shop accepts fine quality clothing with labels from American and European designers. Men can experience one of the area’s largest collection of designer brands including labels such as Hermes, Gucci, Prada, Armani, Versace, Louis Vuitton, and countless others including fashion forward bridgewear.

‘This business is one of New York’s best kept secrets because there is no other place in the city offering men the range of designer clothing and accessories at this value. Many of Hollywood’s own, shop for themselves and outfit their films.’

This boutique’s goal is simple, “To provide fine quality, luxury clothing at an affordable price and outstanding customer service to complement it.” The beauty of this business model is it requires no cash outlay for inventory. This store typically carries over $200,000 in merchandise at no cost to the owner.

Clients bring in merchandise they wish to sell on consignment. If management decides that clothing meets quality standards, a price is set and agreed upon for a 50/50 split upon sale of the item. Merchandise is reduced 20% after 30 days, 50% after 60 days and the consignment period ends after 90 days.

The business is located in a 1,100 square foot store located on the upper east side in an ideal location with foot traffic.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,100
Lease Expiration:
N/A
Employees:
2 FTE, 3 PTE
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1,100 sq. ft. leased space
Growth & Expansion:
Although the business model in place is profitable, the business could be better served by a greater internet presence. With the advent of the internet, the sale of clothing has increased and more buyers are looking to buy online. Aside from walk in traffic, the owner recognizes that greater involvement via social media would generate and increase sales and profits. What sets this business apart from others is its uniqueness and stellar reputation for fulfilling its loyalty to steady clients. A savvy buyer will be able to take advantage of this shop’s strong foundation, its marketplace niche and its outstanding reputation.
Support & Training:
Seller will negotiate a transition period
Reason for Selling:
Retirement
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Jack Armstrong

Business Listed By:
Jack Armstrong

Sunbelt Business Brokers of NJ

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business.

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