December 20, 2013 |
Bets on the top-performing retailer this holiday don't favor the storied haute couture companies - not Chanel with its $4,500 handbags, nor Neiman Marcus and its $150,000 bespoke falconry set. Instead, it's Michael Kors Holdings - an American sportswear brand from a sassy former "Project Runway" judge - that's roundly predicted to crush Christmas. The company is what's known as a bridge brand, operating on the low end of luxury. Its handbags generally cost less than $500. But the sector's mix of just-high-enough prices and accessible-yet-glamorous design makes brands such as Kors, Kate Spade and Tory Burch like catnip for consumers who are sick of curbing their spending but still wary of an uncertain economy.
CALIFORNIA | LOCAL
January 11, 2007 |
Developer Rick Caruso is best known for transforming Southern California's retail landscape with his splashy open-air shopping villages, such as the Promenade at Westlake Village and the Grove in Los Angeles' Fairfax district. But if his projects are sometimes criticized as facsimiles of city life, Caruso couldn't be prouder of the location of the one building that bears his name: skid row.
March 8, 2011 |
Few major commercial real estate projects have launched in Southern California since 2008, when the economic downturn crashed the party. That may be about to change. Mall magnate Rick Caruso is set to break ground Tuesday on a $60-million luxury apartment and retail development near his Grove shopping center in Los Angeles. FOR THE RECORD: Luxury development: An article in the March 8 Business section about a housing and retail project planned by Rick Caruso on Burton Way at La Cienega Boulevard included a map that had two streets labeled as Beverly Boulevard.
February 8, 2012 |
The bidding on the Dodgers has moved into the second round, with 11 parties cleared to advance in the process. With various bid groups discussing mergers and/or trying to acquire additional financing, and with the investment bank handling the sale receptive to substantial offers even at this late date, the list below is subject to change. The lineup of Dodgers bidders, as of Wednesday: Magic Johnson/Stan Kasten: Could soon be joined by richest man in L.A., Dr. Patrick Soon-Shiong.
December 17, 2012 |
Los Angeles developer Rick Caruso is buying 10 retail properties on three parcels in the tony town center of Pacific Palisades, according to people who know about the deal. The acquisition will give Caruso the opportunity to restyle a significant portion of the affluent neighborhood's commercial district in his vision. Caruso, owner of the upscale Grove shopping center in Los Angeles, is in escrow on a 2.8-acre collection of commercial buildings on both sides of East Swarthmore Avenue and Sunset Boulevard known as Pacific Palisades village.
November 22, 2011 |
Former Dodgers manager Joe Torre has discussed teaming with one of Los Angeles' most prominent real estate developers in pursuing the team. Rick Caruso, whose signature project is the Grove but who has not run a sports franchise, could strengthen a potential bid by aligning with Torre. The discussions between Caruso and Torre were first reported Tuesday by the New York Times and subsequently confirmed by the Los Angeles Times. Charles Sipkins, a spokesman for Caruso, declined to comment.
CALIFORNIA | LOCAL
November 4, 2010 |
In a surprise move, L.A. Memorial Coliseum Commission members Wednesday overturned a moratorium on raves put in place after the drug overdose death of a 15-year-old girl who had attended an event held at the public facility earlier this year. The move was sharply criticized by Rick Caruso, appointed by Gov. Arnold Schwarzenegger to serve on the joint city, county and state commission. "I strongly disagree with the action of the commission," Caruso said, adding that he did not attend the meeting because he was at a family event and that it was his understanding that no action would be taken on the rave moratorium.
November 30, 2010 |
Los Angeles developer Rick Caruso wants to expand his Americana at Brand shopping center in Glendale by taking over two adjacent properties, including a hotel. In a letter to the city's redevelopment agency released Monday, Caruso declared his interest in taking over the Golden Key Hotel and a vacant retail building at the southern edge of the Americana. He hopes to buy the properties from their owners but might ask the city to acquire them by eminent domain and sell them to him. "My hope is that we can just sit down and figure out a right price on a private basis and not make it a public process," Caruso said in an interview.
CALIFORNIA | LOCAL
March 1, 2014 |
The debate on whether Los Angeles hotel workers should be paid at least $15.37 an hour opened last week with some less-than-expected allies for a "living wage" and some questions from City Council members about whether the proposal goes too far, or not far enough. Two of the city's business titans, billionaire philanthropist Eli Broad and mall developer Rick Caruso, broke from the standard business-versus-labor divide when they said in interviews they support a higher minimum wage.