From LA to LE

LA based vertical manufactory and high fashion retailer American Apparel, has leased a new 5,200 sq ft retail store at 142/144 Oxford Street as their new flagship shop, from the The Langham Estate.

The store which is currently being comprehensively refurbished and due to open in December, is adjacent to Aldo and close to HMV, H & M, M & S, Espirt, Bik Bok and the Playboy store, to name but a few.

By way of background, American Apparel’s rise is a striking success story, for its 37-year-old founder and chief executive owner Dov Charney, who opened his first shop in 2003. Today he has 143 in 11 countries selling casual clothes for men, women and children. American Apparel’s sales for 2006 were an estimated $300m. His company’s 80% gross margin, an indicator of its profitability, is well above the industry average of 60%. Its unbranded, brightly coloured and moderately priced T-shirts, sweatshirts, underwear and jeans have become wildly popular among the young, well-travelled crowd that Mr Charney says represents the “world-metropolitan culture”.