Ralph Lauren Renews Rhinelander Lease
The Ralph Lauren Corp. has renewed his lease on the Rhinelander Mansion, which for 40 years has served as the designer brand’s worldwide flagship.
“It’s a renewal for 10 years that starts in 2024 and extends to 2034,” a real estate source told WWD. The flagship, on the southeast corner of 72nd Street and Madison Avenue, is a Beaux Arts architectural masterpiece which houses Ralph Lauren men’s products.
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“He’s been steadily updating the departments in the flagship over the years,” the source said.
Sources differed on what Ralph Lauren is paying, with one putting annual rent at $9 million while another said it was closer to $6 million.
A Ralph Lauren spokesperson confirmed that the lease had been renewed.
“Our iconic men’s flagship at 867 Madison Avenue allows our customers a way to step into and experience the immersive world of Ralph Lauren, shop the full expression of our men’s products, and experience the highest level of service,” the spokesperson said. “We are pleased to continue our presence in this storied and historic landmark for years to come.”
Ralph Lauren originally took over the lease in 1984 and proceeded to convert the site to an elegant, sophisticated flagship that on some levels was controversial at the time. The thought among certain retailers in the city was that the flagship would cannibalize sales from department stores selling Ralph Lauren products. There was also some opposition from preservationists arguing that the grandness of the site, once a residence, would be lost in the conversion.
However, the Ralph Lauren flagship became an inspiration for other designer brands, both American and European, for launching their own stores, often in grand flagship fashion on the avenue.
In 2010, Lauren moved womenswear out of the Rhinelander site, which was remade and became exclusively for selling men’s products. “There are many ways to purchase products now, and we work on them all,” Ralph Lauren said at the time. “In retail, I think you want service, conversation, atmosphere, immediacy, attention. That’s what makes a great store. And that’s where we were aiming on every level. That will be our mantra for every store we build around the world.”
Just across the street from the Rhinelander Mansion is the Ralph Lauren women’s and home flagship at 888 Madison Avenue, and Ralph Lauren Baby at 872 Madison Avenue.
— With contributions from Evan Clark (New York)
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