Burberry by the pallet
Rodeo DRIVE’S got competition in the form of a 130,000-square-foot warehouse that looks and feels like a gigantic meat locker. In fact, part of it is a meat locker. Costco, the members-only mecca of everything in bulk, has begun to stock some true luxury gems -- not many of them, and not in great quantity. But for the intrepid shopper, there are some serious bargains to be had at the big box.
You might think we’re talking about seasons-old throwaways from Ann Taylor, but the mega-retailer has recently started stocking high-traffic stores such as the one in Culver City with the largest amount of the chicest of the chic brands -- Tom Ford, Fendi, Burberry. On a recent trip, one of our best finds was a pair of Tom Ford “Agnus” sunglasses. Right now, they’re $350 at Saks Fifth Avenue. At Costco, they’re $279. We also spotted Ray Ban’s popular “Highstreet” style, a slick unisex racing frame -- $115 on www.rayban.com, but $79 with the flash of a membership card.
When Fendi and Burberry turn up at Costco, it’s -- surprisingly -- not the trendy styles, but the classic shapes. Burberry’s ivory quilted “Edna” satchel, from the fall line, is $999 here, versus the Neiman Marcus price of $1,350.
But the biggest steal we found was at the jewelry counter. There is an array of high-end watches that included Breitling and Omega, but the best was Cartier -- a “Santos-Dumont” watch with a mahogany leather strap, to be exact. The classic style is $11,750 on Rodeo. But behind the Costco counter, it’s $6,499.
How does Costco sell current merchandise from luxury labels at a discount? According to owner and CEO Jim Sinegal, the store marks up the merchandise 14% as opposed to the 100% markup at boutiques and department stores, and cuts costs by not advertising. Unlike with tube socks and granola bars, though, Costco can acquire only a limited amount of luxury goods, so there isn’t a lot in stock, and only a handful of styles.
Naturally, the small selection of high-end merch is eclipsed by the kind that has always peppered bargain stores -- pear-cut ruby pendants set in a nest of gold leaves, piles of denim, not-cool sneakers.
So, be ready to search. And though there is no valet or palm-lined sidewalk, there are always free snacks. Hot Pocket, anyone?
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melissa.magsaysay@latimes.com; ronit.nabi@latimes.com
