December 12, 2015
Assurance Partner Ron Friedman, head of Marcum's Retail group, discusses the folding of retail chain Kitson with the Los Angeles Times.
By Shan Li,
Back in Kitson's heyday, paparazzi staked out the boutique chain to snap photos of tabloid-fodder shoppers like Lindsay Lohan and Paris Hilton.
But like many of its once-hot celebrity fans, the Los Angeles company has lost the limelight. Kitson has launched a going-out-of-business sale as it prepared to close its 17 retail locations as well as its online shop.
Retailers like Kitson are under pressure, especially as malls opt to include more dining and experiential stores instead of traditional stores peddling products, said Ron Friedman, head of retail and consumer products at Marcum. He pointed to the new open-air mall, the Village at Westfield Topanga, which includes many restaurants and services such as blow-dry salons.