Firm guides strategic expansions and portfolio optimization for True Religion, The Fragrance Outlet, Perfumania, and more, totaling nearly 500,000 square feet.
RCS Real Estate Advisors, a leading national retail real estate advisory firm, is celebrating a high-powered first half of 2025 defined by major partnerships, bold expansion initiatives and transformative portfolio restructuring efforts for hallmark brands including Forever 21, True Religion, Perfumania and The Fragrance Outlet. RCS facilitated more than 38 new lease signings and repositionings across multiple markets, and has established itself as a go-to partner for retailers navigating today’s dynamic real estate environment.
“This year has pushed retailers across every sector to rethink their strategies, and we’ve been right there with them,” said Ivan Friedman, President and CEO of RCS Real Estate Advisors. “Whether it’s helping legacy names like True Religion and Perfumania streamline operations, or guiding global fashion brands like Forever 21 through complex real estate decisions, we continue to deliver clarity, consistency and results. Their success is a direct reflection of our unwavering focus on adding real, measurable value at every stage of the business cycle.”
RCS played a key role in accelerating True Religion’s national expansion, targeting high-demand markets where the iconic denim brand is seeing renewed interest in physical retail. The firm supported the opening of 3 new locations, totaling more than 6,000 square feet.
Perfumania and The Fragrance Outlet engaged RCS to support a major expansion effort, resulting in 27 new stores across the country at prominent malls and outlets. With in-person shopping remaining vital in the beauty and personal care space, particularly for fragrance customers who want to test products firsthand, the retail expansion directly responds to evolving consumer preferences. RCS leveraged its extensive knowledge of strategic location sourcing to capitalize on the impact of indirect consumer traffic on retail success, as well as the value of leaning into secondary and tertiary markets.
With a robust pipeline ahead to round out the year, RCS is set to guide strategic expansions and portfolio optimization across the U.S. in partnerships with Savers, Cole Haan, Lids and more. As the retail landscape continues to evolve, RCS remains focused on delivering innovative, tenant-centric real estate solutions – whether that means driving growth strategies, restructuring existing portfolios or unlocking value in shifting markets.
About RCS Real Estate Advisors
Founded in 1981, RCS Real Estate Advisors (RCS) is a leading national retail real estate advisory firm that provides innovative, tenant-centric solutions for complex real estate challenges. RCS’s team of industry veterans use their in-depth retail knowledge and experience to fight tenaciously for their clients’ long-term success. RCS maximizes returns and protects its clients from entering into bad agreements, with a deal-structure mindset rooted in a forward-looking, risk-averse approach. The firm specializes in reducing occupancy costs, restructuring leases and expanding physical footprints.
RCS excels at identifying and exploiting investment and expansion opportunities because it sees the world through retailers’ eyes. For more than four decades, retailers have trusted RCS to strike the best, most favorable lease terms, preserve profitable locations, select the best sites for expansion and growth, and monetize real estate. For more information, visit: https://rcsrealestate.com/about-us/
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