Stussy, one of the leading luxury shoe brands in the world, has announced that it is selling its flagship store in New York City for $1.3 billion, bringing its total retail value to more than $4.4 billion.
The company has also acquired two other Manhattan stores.
“Our stores in Manhattan are a natural extension of the Stussy brand,” Stussy CEO Brian Osterman told the New York Times.
Stussy was founded in 1892, but in the past few decades the brand has grown to become one of fashion’s most recognizable brands.
It is based in Los Angeles, New York, and New Jersey, and operates in more than 50 countries around the world.
Osterman said that his company is looking for a buyer for its Manhattan stores, which he said have a “unique combination of heritage, quality, and contemporary design.”
Studded leather is the brand’s signature style, but it also carries the brand name, as well as the name of its flagship flagship store.
In March, Stussy launched the Stuffed Bunny, an ultra-cute, leather-based stuffed animal with a plushy head and ears, which was widely applauded for its attention to detail.
It is the first Stussy fashion brand to go to market with a completely new design, according to the New Yorker.
New York is one of Stussy’s biggest markets, and it has been a focus for the brand in recent years, especially with the opening of its new Stussy store in Manhattan in late February.
Last year, Studded was acquired by the British company LVMH, and in February, it was sold to British luxury conglomerate Louis Vuitton.