Luxury Daily: MadaLuxe Vault aims to reinstate luxury experience at off-price level
December 13, 2017
MadaLuxe Group has opened its first luxury off-price retail location in Los Angeles to offer consumers premier brands within a boutique setting.
Since 2010, MadaLuxe Group has acted as a distribution partner for a number of luxury brands looking for a North American strategy to handle excess inventory. Now, instead of sending excess inventory off to a mono-brand storefront in an outlet mall, MadaLuxe Group's new retail banner, MadaLuxe Vault, creates a multi-brand boutique concept stocked with off-price merchandise.
Off to the vault.
The debut MadaLuxe Vault location has opened at the Citadel Outlets in Los Angeles.
Located at 100 Citadel Drive, the first MadaLuxe Vault will occupy approximately 3,000 square feet of space and will feature a broad assortment of categories such as handbags, eyewear, accessories and timepieces from European luxury brands.
Although off-price department stores, such as Saks Off Fifth and Nordstrom Rack, are popular among consumers, the quantity of merchandise and haphazard presentation often dilutes the luxury brands stocked at these points of sales.
MadaLuxe Vault is aiming to reform the off-price experience by reimagining the retail atmosphere as a mono-brand boutique, rather than a big box store.
MadaLuxe Vault's format will help luxury brands maintain an exclusive allure while still being viewed as accessible by consumers.
The off-price retailer will also operate an ecommerce Web site for select brands.
"The MadaLuxe Vault concept has been created to attract a passionate consumer seeking authenticity, luxury expertise, quality and create value," said Sandy Sholl, CEO and cofounder of MadaLuxe Group, in a statement.
"Consumers now have a place to shop their favorite luxury brands in a sophisticated boutique setting," she said.
As part of its MadaLuxe Vault announcement, MadaLuxe Group has hired Darin Skinner as its senior vice president of stores. Formerly at Guess, Inc. for more than 20 years, Mr. Skinner will be responsible for overseeing MadaLuxe Vault's expansion.
"Los Angeles is an ideal location for us to launch our first store, and we are thrilled to bring on extensive retail talent as we look to build on this exciting new consumer shopping experience in the luxury off-price market in a variety of strategy real estate locations," said Adam Freede, cofounder and president of MadaLuxe Group, in a statement.
MadaLuxe Vault also has a charitable sales component which may be an attractive draw for consumers. The retailer plans to donate a portion of MadaLuxe Vault's in-store and ecommerce sales to World of Children, a nonprofit that funds high-impact programs for vulnerable children around the world.