Fortunoff has opened a new 262,000 sf., four-level store in White Plains, New York.
The new store, which is being billed as “the Source at White Plains,” will offer shoppers fine jewelry, tabletop, home furnishings, housewares, and bridal and gift registry. The first floor of the “full line” store contains 72,000 square feet of leasing retail space, which will contain The Cheesecake Factory, Whole Foods Market, and two other destination retailers.
A $450,000 emerald-cut diamond and platinum necklace is among the most expensive of the upmarket items for sale at the company’s new store.
Construction for Fortunoff’s $92 million structure began in April 2002, with the razing of another department store in the city—a Saks Fifth Avenue that had occupied the six-acre site for 52 years. It is the company’s sixth store, all of them located in the New York City metro area.
Fortunoff estimates that its annual sales will exceed $450 per gross foot, or $81 million, The New York Times reports. This compares with $92 million for Fortunoff’s store in Wayne, N.J., and more than $160 million for its Westbury store on Long Island, the company reported.