Ricky's NYC continues its glam streak with 22nd store

NEW YORK The sluggish economy has not significantly impacted Ricky's NYC, or so it seems, as the New York City retailer gears up for the opening in mid-September of its 22nd New York store.

According to Crain's, the company has signed a 10-year lease for a 2,600-sq.-ft. space at Eighth Ave, and West 17th Street — the home of a former kitchen showroom that went out of business.

Ricky's chief executive Todd Kenig was quoted as saying that revenues are in the $42 million to $45 million range — currently down about 10% from the levels of a very solid 2008, when sales leaped by more than 20% versus year-earlier figures. However, in a turbulent economy where many retailers are shutting their doors, a 10% decrease is "ok" when you put it in perspective, he noted.

Ricky's NYC is the ultimate beauty destination with its edgy, ultra-hip stores that, over the years, have developed an almost cult-like following among New Yorkers. As reported in January by Drug Store News, the retailer — which is big in hair care — is looking to further tap into the hair care market with the rollout of in-store hair salons. In fact, the company told Drug Store News that the plan was to roll out a salon in every location.

That goal appears to be coming to fruition as this new location will, according to Crain's, also feature an in-store hair salon.

Halloween is a big business for Ricky's so it is looking for temporary locations for its Halloween pop-up stores, where it will test certain neighborhoods as potential spots for long-term leases. The company is currently assessing short-term spaces at East Houston and Ludlow Street, downtown on John Street, and in Hoboken, N.J., Crain's reported.