Charming Shoppes Looking for 60,000 SF in NY, CT

WHITE PLAINS-Apparel retailer Charming Shoppes Inc. was offered some sales tax exemptions by the Westchester County Industrial Development Agency on Thursday in connection with a possible relocation of some merchandising and marketing operations from Greenwich, CT to Rye Brook. The company is searching for approximately 60,000 sf of space at two possible locations in Rye Brook, according to papers filed with the Westchester County IDA.

Anthony Ceretti, manager of strategic relocation and expansion services for KPMG LLP's New York City office, represented Charming Shoppes before the IDA. KPMG is serving as the relocation consultant to Charming Shoppes. Paul Kauffman and Stephen Baker of Cushman & Wakefield are also representing Charming Shoppes, which operates more than 2,100 stores nationwide through the Lane Bryant, Fashion Bug and Catherines Plus Sizes brands.

Sources knowledgeable about the requirement note that Charming Shoppes is also considering locations in Stamford and Norwalk, CT. KPMG's Ceretti refused comment on the requirement and the company's possible interest in space outside of Greenwich in Connecticut. Sources say Charming Shoppes will make a decision on its relocation site by the end of the first quarter or the beginning of the second quarter of 2006, since the firm wants to have its new office operational by the third or fourth quarter of next year.

According to Charming Shoppes' filing with the IDA, the company is seeking to relocate the merchandising, inventory, planning, marketing, catalog assembly and quality assurance operations of four of subsidiary Crosstown Traders 11 catalog operations. Charming Shoppes, which is headquartered in Bensalem, PA, acquired Crosstown Traders, a leading apparel catalog retailer, in May 2005 for $258 million in cash and debt.

The new facility either in Rye Brook or Connecticut will initially house 97 employees. Charming Shoppes states in its paperwork with the IDA that it plans to add as many as 50 workers at its new location from its Lane Bryant catalog operations in the next two years.