Taking The High End Out Of East Hampton's Retail Scene

Et tu, Gucci? The combination of escalating rents and a limp economy is forcing even the big-name luxury retailers out of town. With rents in East Hampton climbing upwards to $200 a square foot, which can mean more than $200,000 a year, the price of doing business in the village is too rich even for the most famous names in fashion. And while they never really turned a profit out east, the high-end retailers were willing to pay the price just to say they were hip in the Hamptons. But those days are over. "It's just depressing," said Renee Fertig, owner of Tennis East on Main Street. "A few years ago, it was all mom and pops. Now these stores have taken over and they don't even stay open. It really hurts the rest of us."
· High-end retailers ditching East Hampton [NY Post]