AppleInsider Staff
Apple's somewhat controversial new store on Manhattan's tony Upper East Side opened for business this weekend, and photos of the remodeled bank reveal a number of one-off design flourishes including a dedicated Beats display wall and a bank vault-turned-VIP room.
Apple retail chief Angela Ahrendts was on hand for the store's grand opening on Saturday, where residents of the affluent neighborhood got their first look at what turned out to be a unique addition to the company's retail empire. The new location — Â housed in a 93-year-old former bank at the corner of East 74th Street and Madison Avenue — Â looks more like a boutique than an electronics store.
In one interesting choice, an inset wall with a number of round, wooden "heads" hold a display of Beats headphones that is the first of its kind. Each pair of headphones is connected to an iPhone and available for customers to try.
Another detail that harkens back to the building's history is a wall of phone cases, with a single case of each type displayed on a protruding wooden plank that also functions as a handle. Pulling on the handle reveals a drawer with cases for sale in slots behind the drawer — Â a design element apparently meant to evoke a wall of safe deposit boxes.
Downstairs, the old bank vault has been left in place and converted into a VIP room with couches, a large television, and laptops and iPhones displayed along the wall. The vault will reportedly be used to host Apple Watch Edition try-on appointments.
While many area residents were opposed the idea of the new store, Apple has made a number of concessions to help its latest outlet blend in. The company brought back its personal shopping service to cater to the new location's more upscale clientele, scaled back its usually brightly-lit exterior signage, and introduced shorter opening hours.
Charles Martin
Marko Zivkovic
Wesley Hilliard
Andrew Orr
Malcolm Owen
David Schloss
32 Comments
One thing that's always puzzled me is as far as Wall Street is concerned, Apple's retail stores count for zero in value. I would think that's a pretty unique value that Apple has in terms of property value and customer loyalty. Oh, well. I suppose only certain things matter to investors and Apple's hundreds of global retail stores aren't one of them. Originally it was thought Apple's retail venture would be a huge failure and yet it has come quite far to be considered an anchor for Apple. It would be almost impossible for any other tech company to duplicate in scale but is seemingly overlooked as being of any value. I think they're a lot of fun to visit and play around with the devices that always work. Apple has done such a fine job with its retail stores but they're hardly ever mentioned as being a key to Apple's success.
[quote name="Steffen Jobbs" url="/t/186735/apple-opens-upper-east-side-nyc-store-with-unique-design-elements-including-vip-bank-vault#post_2735459"]One thing that's always puzzled me is as far as Wall Street is concerned, Apple's retail stores count for zero in value. I would think that's a pretty unique value that Apple has in terms of property value and customer loyalty. Oh, well. I suppose only certain things matter to investors and Apple's hundreds of global retail stores aren't one of them. Originally it was thought Apple's retail venture would be a huge failure and yet it has come quite far to be considered an anchor for Apple. It would be almost impossible for any other tech company to duplicate in scale but is seemingly overlooked as being of any value. I think they're a lot of fun to visit and play around with the devices that always work. Apple has done such a fine job with its retail stores but they're hardly ever mentioned as being a key to Apple's success. [/quote] Where on earth are you getting this opinion from? Because it's wildly inaccurate.
I don't think either of you can really know if it's included or not for sure, or what valuation it holds. But I should think woodycurmudgen is closer to the truth than steffen jobbs on the basis that if it exists the market has priced it in. The market's problem is over-reaction to good or bad news. Sadly this includes analyst statements... and we all know how ridiculous these can be.
[quote name="woodycurmudgeon" url="/t/186735/apple-opens-upper-east-side-nyc-store-with-unique-design-elements-including-vip-bank-vault#post_2735460"] Where on earth are you getting this opinion from? Because it's wildly inaccurate.[/quote] Well I know there was one Wall Street site (I think it was Seeking Alpha) that called Jony Ive's promotion a demotion in part because some of his expanded job duties involved the look and feel of Apple stores and they didn't think Apple stores were important. So I do think the sentiment is out there in some circles.
Typical Apple and their attention to detail. Speaking of bank vaults, I dated a girl in university who lived in an old bank and put her bedroom in the vault.