NEW YORK, Jan. 7, 2014 /PRNewswire/ -- Roundabout, New York's leading purveyor of luxury resale and discount couture, is pleased to announce the Spring 2014 opening of a second Upper East Side location at 1100 Madison Avenue (between 82nd & 83rd Streets) having acquired the lease of the space currently occupied by Lumas gallery. This will be their third location in New York City.
Connecticut based Roundabout first entered the Manhattan market in 2008 opening opposite the Ralph Lauren flagship at 72nd Street and Madison Avenue. The enormous success of that store led to the 2010 unveiling of a larger 3100 square foot bi-level store downtown on Mercer Street in the heart of Soho. With neighbors such as Prada, Saint Laurent, Marc Jacobs and Balenciaga, Roundabout has succeeded in providing a similar luxury experience for their customers.
Established in 1989 in affluent Westport, Connecticut, the March opening of this new location will coincide with the brand's 25th year anniversary. Currently operating four locations, including Greenwich, Connecticut, the upcoming location will place them firmly on what is considered the most prestigious retail avenue in the world. The powerhouse team of Faith Hope Consolo and Joseph Aquino of the Douglas Elliman Retail Group brokered the deal.
Owners Laurie and Richard Perren created Roundabout 25 years ago with the goal of having the best consignment / resale store in the country. With their unique business model they offer not only an amazing selection of pre-owned designer items from America's best closets, but through direct relationships with boutiques, showrooms and designers they are also able to sell current and past season "new" items at a discount of up to 70% off original retail. From cutting edge Alaia to classic Chanel, Roundabout is able to stock the finest labels in fashion at incredible prices.
By providing customers a similar luxury shopping experience as neighboring high end retailers, along with the assurance of impeccable condition and quality, Roundabout is able to obtain a higher selling price and therefore a higher return to the consignor than the current fad of online resale sites. Roundabout pays 66% of the selling price to consignors of Chanel, Hermes and Louis Vuitton handbags and 50% for all other merchandise.
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