Software entrepreneurs John and Tammy Giaimo of suburban Longwood are taking a calculated gamble in investing $1 million in high-end products for the 11,000-sf store at 216 N. Park Ave., a block from the former Jacobson's location, area retail brokers following the store's opening tell GlobeSt.com. The Giaimos paid $25,000 for the Jacobson name.

The Giaimos couldn't be reached by GlobeSt.com's deadline; but their website states the Giaimos bought Jacobson's assets last fall and formed a new corporation, Jacobson Stores Inc. The former Jacobson's, based in Jackson, MI, had 18 locations in Florida and Michigan.

The chain filed for Chapter 11 protection under the US Bankruptcy Code Jan. 15, 2002 after defaulting on $150 million in loans due in November 2001, as GlobeSt.com previously reported. Jacobson's had occupied 55,000 sf at its 339 N. Park Avenue store.

The new Jacobson's isn't planning to compete with mall rivals Neiman Marcus or Bloomingdale's but will showcase dresses from Sue Wong and Votre Nom; shoes by Emilio Pucci, Olivia Rose, Lulu Guinness, Isabel Flore, Christian Lacroix and Marc Jacobs; handbags from Adrienne Vittadini; and other designer labels such as D&G, Michael Koors, Cynthia Steffe, Kay Unger and Joe's Jeans.

Although the new Jacobson's won't be battling larger mall competitors, the Giaimos hope to match their rivals' retail strategies with an experienced general manager in Beth Aranda. Aranda, a retail executive for 25 years, opened the $50-million Bloomingdale's store at the 1.3-million-sf Mall at Millenia in 2003 as general manager.

Sam June, another longtime retail industry designer and merchandiser, is creative director at the new Jacobson's. He calls the new trends in retail merchandising, "turbo retail" because "today's customer wants to find what they need quickly and from merchandise that is edited to their taste." The Giaimos plan to hire about 20 section managers for the seven-day-a-week store.

ACI Architects of Winter Park, headed by Randall Glidden, designed the new store. Broker Mike Winn of Brown, Harris Stevens' local office, put the store deal together for the Giaimos.