Retail Giant Guitar Center’s 5 Million Dollar Remodel
Guitar Center is attempting to make a huge comeback, investing $5 million in its flagship Hollywood store. The huge investment seems to be a part of an extensive brand renewal project. They’re adding over 30 new stores and remodeling old ones. The Hollywood store recently held a free block party, taking over a large portion of Sunset Blvd. The block party was met with thousands of music lovers ready to see Zane Lowe from Beats 1 radio and performances by DJ A-Trak and Anderson.Paak. The block party was an incredible attention-grabbing event but it wasn’t the only attraction for the store makeover.
The retail store was on the brink of financial disaster after a 2007 buyout deal. It’s still recovering from over $1 billion debt, yet it’s gearing up to be back on top as a music retail giant. In store, they have acquired attractions to wow customers and hopefully promote purchases with Eric Clapton’s famous Stratocaster “Blackie” and other instruments from B.B King, Paul McCartney, and even Johnny Cash.
Executive VP of sales Michael Amkreutz states, Now we have transformed this store into 30,000-plus square feet of retail, immersive, musical instruments experience. We don’t have anything [else] like this in our chain today.
Guitar Center is also expanding their music education opportunities. Their Hollywood location has remodeled its second level for private lesson rooms and an overall teaching center. According to GuitarPlayer, Guitar Center will be deepening its roots in the community with free music workshops and a focus on music education for students of a variety of levels. The focus on music education opens the store up to a new customer stream and it’s an essential step in getting Guitar Center Inc out of debt. Even as the retail center is changing, future music makers can look forward to making the most out of Guitar Center and their remodeled facilities and new services.