L.A. Fashion Fixture Tracey Ross Closes, Citing Economy

by Tracy Chait (RSS feed)
Dec 31st 2008 at 9:02AM

Tracey Ross, which has held a prominent place in the L.A. retail scene for the past 18 years, has just announced it will close on New Year's Eve in a terse statement to WWD: "Of course it's the economy."

Known for its high-end collection of designers like Peter Som, Stella McCartney and Thakoon, the shop catered to celebs including Kate Hudson and many of LA's well-known tastemakers.

Owner Tracey Ross lamented that it has become "impossible to compete" when mega-retailers like Saks Fifth Avenue are marking down merchandise to 80% off retail.

Gallery: Brands in Trouble

Tags: los angeles, LosAngeles, saks fifth avenue, SaksFifthAvenue, shopping, tracey ross, TraceyRoss

Filed under: Apparel

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Reader Comments (Page 1 of 5)

greg Dec 31st 2008 8:35PM

Good. We need fewer retailers engaged in the sport of seeing how high they can mark clothing and other every day items. There isn't a person alive who can't put that $3,000 spent on a purse to better use.

Mipsys Jan 4th 2009 6:01PM

AT LAST, I'VE FOUND EMMA WATSON NUDE VIDEO. YOUNG STAR OF HARRY POTTER ISN'T LITTLE GIRL ANY MORE;) I'VE SEEN IT HERE: http://celebs.vox.com

regina Jan 4th 2009 10:12PM

Amen, I So Agree with You !!! Your comment is right
on about the 3,000 purse purchase, being used towards other worth while causes. Donate to the animal shelters or food pantries. All charity need our help more then Ever ! We are too spoiled and have become too materialistic !!!

BettyBear Jan 4th 2009 10:13PM

Right On greg!Hopefully conspicuous consumption will be frowned upon socially now.Nothing beats the satisfaction felt when you give regularly to your favorite charity like local homeless or animal shelters.I wish they would show that on an episode of 'The Hills'.

stephanie Feb 19th 2009 5:29PM

Ugh, a comment like yours really pisses me off. You have no idea how many people benefit/and or are involved in the sale of a $3,000 purse. First of all, the designer buys the leather from a leather house which is most likely a family business in Italy. Then, the designer must employ people to actually sew together all of the pieces and assemble the appropriate hardware on the bag. Once the bag is put together the "samples" are shown at a market where buyers (such as Tracey Ross) can buy the bag at wholesale. This would be approx $1500 on a $3000 bag. Once Tracey buys the bag she has to pay for shipping and handling to recieve it and sell it in her brick and mortar store. Brick and mortar means she is paying rent, all the utilities, security (against theft), employees, TR shopping bags etc, etc, etc. When all this is said and done she might make about $200 on the sale of this bag. And don't forget, $3,000 handbags are not sold EVERY day. She probably sells one about once every 2 weeks or so. And, that is how she makes her living. Just because you don't want to buy a $3,000 bag (and neither do I!) it isn't right to knock her business and assume she is a crook. She is just trying to make a living as I am sure you are too.

joab Dec 31st 2008 8:43PM

That "cold, hard cash" won't do you any good when China unloads the billions it has in US currency--not to mention when OPEC goes to the Euro and abandons the dollar. You can make a fire with it, though.

mike Dec 31st 2008 11:38PM

youre absolutely correct ! except for the fact that china has approx. 1.3 trillion in us currency (reportedly) in the forms of bonds/cash/and treasury bills. they can destroy our economy much further if they want, and anytime they want. inflation is comming real soon and your statement about the dollar suffering due to the euro/opec sittuation is spot on. saving money is good, but you better have a 770 fico/beacon credit score if you want to be able to finance anything in months to come.

Bill Dec 31st 2008 11:26PM

good point

JohnQ Jan 4th 2009 7:02AM

"Permit me to issue and control the money of a nation, and I care not who makes its laws." -- Mayer Amschel Rothschild, International Banker --------------------------------- The Republicans AND The Democrats have handed our Country's money over to the International Bankers (through the Federal Reserve) and handed our Constitution and our Military over to the United Nations. The Democrats AND The Republicans ARE the greatest threat to our Constitution.

uncle buck Dec 31st 2008 9:31PM

Welcome to George Bush's America.

Don Jan 4th 2009 4:55PM

Everybody blames Bush... the problem witht hat thinking, is that Congress has as much to do with our current problems as Bush... Clinton & the Congress he worked with helped too...

Bush didn't do all of this by himself...

clt Jan 4th 2009 9:24PM

Oh yeah, blame George Bush for all Americans foolishly spending money they don't have and buying homes they can't afford.

mike Dec 31st 2008 10:44PM

welcome to Barack Obama's America.. Food lines for the next 4 years...

cesar Dec 31st 2008 10:48PM

It's Bush's fault we're in this mess in the first place... :|

mike Dec 31st 2008 11:39PM

i dont think he has even moved into the presidential guest house yet has he ? let him get into the white house as the actual president first ! january 21st is the earliest date that you can start obama bashing. happy new year ! hope to see you in the food line soon !

Enre Jan 4th 2009 7:03AM

Obama? The state of this economy is not under his presidency?!!!!! How stupid? However I'm sure more morons will say the same thing if things don't change within 2 weeks after being sworn in. Stop being stuck on stupid people. Lets see what he can do before throwing the stones. Damn! It's as if you people want him to fail...hmmmm. Now that I think about it.....Maybe you do in an attempt to justify what you need to believe. And we all know what that is? That among many other things anyway.

Tim Dec 31st 2008 11:08PM

Bush's America? The economy was fine until the Democrats took the Congress and Senate. Since then the bottom has fallen out! Just imagine...four more years of Jimmy Carter in an African-Arab body! WOW! God help us!

LG Dec 31st 2008 11:36PM

he's not an Arab- but you must be a redneck

mike Dec 31st 2008 11:56PM

if you dont like democracy,and the right to vote, you need to take yourself, your family and your friends from west virginia and move to another country ! oh, I've got it ! since you love Bush so much you can move to "The new Iraq", I'm sure you will love what he has done with the place.

dumrepubs Jan 4th 2009 7:48PM

You are pathetic. You need to go back to Carter to find someone to excuse the mess Bush and his fellow Republicans have caused? Actually, that's not fair of me as these aren't actually Republicans. The radical right and the theocratic Christian right hijacked your party years ago

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