How Karen Murray Left Her Corporate Career And Turned Fivestory Into An Upper-East Siders’ Dream Boutique

Fiercely passionate about the fashion industry — and specifically vintage clothing — Karen Murray bought Fivestory after spending a decade in the corporate world. She prides herself on curating a collection of exclusive pieces by illustrious and emerging designers. Not only does the store showcase exquisite designs and one-of-a-kind, vintage pieces from the likes of Chanel, Yves Saint Laurent, and other iconic maisons, but the architecture of the store is a masterpiece in itself. She tells us about the vintage and preloved space, which designers she’s loving at the moment, and her expansion plans. 

Prior to buying Fivestory, you were the CEO of Sequential and before that, spent about 10 years at VF Sportswear. What made you want to take on this venture after so much time in the corporate world?

I spent 40 years in the corporate world overseeing men’s and women’s brands, surrounded by products, and the retail world. My job became more and more managerial and further away from “touching products.” I wanted to go back to fashion and build a unique women’s boutique where I was integrally involved in all areas of the business, especially on the product side. I wanted to offer a shopping experience to women that has new and emerging designers, mixing old and new in a very special multi-brand store that I didn’t think existed. 

You are a collector of high-end vintage fashion. What do you love about it? 

I have always appreciated the styling, fabrics, and construction of vintage fashion. I go to as many vintage shows and fairs as I possibly can, collaborate with costume designers, and hand-select items from friends. 

What made you want to expand Fivestory into the vintage and preloved space?

Vintage fashion has been a significant part of Fivestory since I bought the store in March 2020.  I always had the intention of carrying current and new emerging fashion designers and adding a vintage pre-loved selection. It has turned out to be incredibly successful from the beginning in New York City. I then opened the store in Southampton with the same concept and will continue with Palm Beach, opening Thanksgiving weekend.  

Your store on Madison Avenue is renowned for its residential style and sophisticated architecture and design. What was the inspiration behind the aesthetic?

The store was a rowhouse built in the 1900s. We kept the original fireplaces and crown moldings along with the palatial metal gates on the front door.  The store has a rotating selection of artwork lining the walls that are also for sale.  

How would you describe the experience of shopping at Fivestory?

It’s a highly curated and experiential store, set up with different spaces and different stories to tell. It is dedicated to a different merchandise category: new and emerging designers, vintage and runway fashion, accessories (including handbags and shoes), jewelry, and home products.  

Fivestory is one of the few multi-brand luxury women’s boutiques left in New York City. I don’t think there’s a single store in New York City that offers current, new designers, exclusives, pre-owned and vintage. We’re a luxury store, but you can get everything — from a $5,000 dress to a $60 candle. 

What designers are you frequently sourcing from? Any up-and-coming designers that you’re loving at the moment?

In addition to the runway favorites, we have a large selection of brands with limited or exclusive distribution, such as TWP, JC Obando, Voranida, Alison Fry, Michelle Farmer, Elyse Graham, Hollow Forms, and Sarah Coleman.

Describe your personal everyday style.

Coming from a world where I wore blazers and pants all the time, I love to wear the brands in my store, new designers mixed with established and a touch of vintage. I favor color versus black. In the summer, I love feminine florals. My go-to is still pants and blazers but more color, softer fabrics, and patterns.

What has been your pinch-me moment since owning Fivestory?

My pinch-me moment since owning Fivestory is the pleasure I get from helping women feel good by putting together looks for their special occasions, that personal connection, and having them feel happy and fulfilled when they walk out. I often ask them to send me pictures from the event.

What can we expect in terms of expansion? Any new stores on the horizon?

We opened Southampton this past summer, and Palm Beach is getting ready to open the Saturday of Thanksgiving weekend!