Three years after opening a designer boutique at the age of 25, fresh out of FIT, Phillip Salem is closing Owen. The decision is due to the landlord's plans to demolish and rebuild the space at 809 Washington Street, according to a press release. Salem will also put the e-commerce business on hold as he focuses on finding a new location.
The distinctive retail space was designed by Phillip Lim’s store architect, Jeremy Barbour, and notably features 25,000 paper bags affixed to a curved wall-to-ceiling surface. "On the last day everybody can take a paper bag as a memory," Salem told WWD. According to the trade, Owen made $2 million in sales in recent years and e-commerce accounted for 20 percent of the business.
The boutique carries brands such as Cushnie et Ochs, Suno, Tanya Taylor, Jonathon Simkhai, Ohne Titel, and Acne Studios. There will be a closing sale up to 80% off until Owen closes its doors on July 31.
Meanwhile, Salem has designed a private label luxury handbag collection, previously only available through the boutique, that will debut at New York Fashion Week in September for wholesale. He told WWD that he estimates the new Owen shop will open in the first half of 2016 somewhere downtown.
Note: This story has been updated to state that Owen made $2 million in sales in recent years, not $20 million.