Recession Radically Transforms East Hampton


The recession has been so long and so deep, it has even managed to penetrate areas that seemed inured to economic difficulty, such as the Hamptons. According to this morning's Post, financial pressure has forced the luxury retailers who settled in East Hampton to cater to second- and third-home owners during the boom to pack up their wares and move along, despite the fact that we're only a few short months away from the summer season. Among them, the Gucci on Main Street.

The iconic Italian brand, along with Brooks Brothers, Cole Haan and Calypso Home are among the retailers who have abandoned the tony village before the summer season.

Having lived in some dilapidated neighborhoods ourselves, we can envision what will come next. A check-cashing place will move in, a Chinese restaurant, a bodega with bulletproof glass. The window shoppers will be replaced with staggering drunks, and not the cute college kind. The Gucci sign will remain there, hanging forlornly, until at last some crackhead pulls it down and sells it as scrap metal.

But actually, wait, that's not what's happening. Apparently the stores are being replaced by ...

More stores? Per the Post:

Ralph Lauren has planted three stores on one block alone.

Oh. So the Hamptons aren't going bad. They're just becoming, like, Connecticut.

High-end retailers ditching East Hampton [NYP]