Melrose Avenue’s fashion boutique row just faced a casualty, as Arcade shuts down after nearly four years of business.
Owner Rochelle Gores closed down the shop at the end of May to focus on consulting for the fashion and retail division of her father’s private equity firm, The Gores Group.
“I’ve really enjoyed creating and running Arcade. The success has exceeded my highest expectations. It has been great between the celebrities, the customers and all the press, but I’ve had the chance to work with my father [Alec Gores] and the talented people of The Gores Group and it was way too much of an exciting thing to pass up,” she told Women’s Wear Daily.
The boutique that once carried top designers like Barbara Bui and Yigal Azrouel is now home to naked mannequins and a blank website.
Gores is on the boards of designer label J. Mendel and moderately-priced wholesale clothing manufacturer Big Strike Inc, which entered The Gores Group’s portfolio in 2010 and 2011, respectively.