In a boost to the local economy, clothing manufacturer Lucky Brand is moving to downtown Los Angeles and will break ground on a $15 million building in the downtown Arts District next month, city and company officials announced Tuesday.
"The independent thinking and unique style that signify the Southern California lifestyle have always been important to Lucky Brand's heritage and continue to be a significant inspiration for the brand, making our decision to move our headquarters to the city of L.A. a natural fit," Lucky Brand CEO Dave DeMattei said.
"This is a great day for Los Angeles' thriving, diverse fashion industry that contributes almost $6 billion to our local economy every year," said Mayor Antonio Villaraigosa. "Lucky Brand's move to Los Angeles reinforces our status as the creative and innovative capital of the world."
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Lucky Brand will be headquartered on Santa Fe Avenue, in a building to be constructed and owned by C.E.G. Construction. The company is currently based in Vernon.
Construction is scheduled to begin Dec. 10, the Los Angeles Downtown News reported.
C.E.G. Construction President Trace Chalmers said Lucky Brand "represents something far more significant to the area than just dollars."
"In addition to the jobs and employees that this project brings to the area, I plan on building another sister building next door, and I feel very strongly that these projects will create the energy to really cement the attractiveness and economic growth this area can represent," he said.
First Deputy Mayor Austin Beutner helped woo Lucky Brand, a subsidiary of Liz Claiborne Inc., to Los Angeles by pointing out the company would be entitled to incentives such as utility rate discounts and state enterprise zone tax credits.