The avant-garde luxury fashion brand Enfants Riches Déprimés (aka ERD; translation Depressed Rich Kids) announced (very covertly) that they will be opening their first US store at 155 Franklin, the long empty storefront in Taylor Swift’s building. (I am still convinced that she is selling, but no change that I can see in city records.) They currently only have stores in Paris and Seoul.

I heard the ERD news from a friend who caught it on an Instagram post that reposted the IG story of the founder, Henry Levy (who also goes by Henri Alexander Levy), but it turns out WWD already has the story.

I will note this dovetails nicely with Patron of the New, which probably sold some of his stuff already.

ERD was founded in 2012 by Levy, a 34-year-old from Atlanta who is often described as a conceptual artist, as a fashion collective in an effort to create a French punk streetwear line based on the movements of the late 1970s and Japanese avant-garde movements of the 1980s. One of the core precepts of the brand is very high price points, with T-shirts ranging on average from $700 to $1,800, and haute couture jackets and pieces priced as high as $95,000. The brand is a favorite with famous musical artists and actors.

According to Wikipedia, ERD consistently utilizes the business model of artificial scarcity — styles are sold on an extremely exclusive basis in small quantities. “The price point is not only a marker of value, but intrinsically part of the piece itself,” Levy told The Guardian in an 2015 interview.

The space is 5900 square feet. More TK when they open.