A developer known for its senior citizen complexes has invested $6 million to acquire a Kosciusko County lakeside resort.FORT WAYNE – Coach Inc. has made Fort Wayne its destination.
The women’s handbag company will open a store in Glenbrook Square later this month, a development mall officials anticipate will help attract other upscale retailers.
Chris Ford, marketing manager for the shopping center, said Friday that Coach will be located in the upper level at the mall between J.B. Robinson Jewelers and Bath & Body Works on June 22.
“This is the result of the phenomenal leasing team that we have and the reputation that General Growth Properties has built over the years,” he said.
General Growth Properties is the mall’s operator.
Representatives from Coach were not available Friday for comment.
Founded in 1941, Coach has locations in more than 970 department stores nationwide. The company’s annual sales were more than $4 billion last year.
Retail observers may wonder why the Coach store chose Glenbrook over Jefferson Pointe, which in some circles is considered more upscale with an anchor like Von Maur.
The decision is not as surprising as it may seem, said business expert Michael Hicks.
“When these guys go about decision-making, it is less about the type of mall than it is about the demographics,” said Hicks, associate professor of economics at Ball State University.
It is not uncommon to see high-end stores locating in strip malls or shopping centers instead of open-air lifestyle complexes like Jefferson Pointe. Coach is looking at spending and marketing patterns, Hicks said.
Ford said Coach will occupy a 2,600-square-foot storefront at Glenbrook, which boasts more than 150 retailers.
Hicks said more upscale stores may follow Coach to Glenbrook.
“It’s a good sign for the area, really,” he said. “I’d look for it in the next nine months.”
Ford says the same.
“This will afford us the opportunity to seek out and attract other high-end retailers that complement stores such as Coach,” he said.
