Business Ins & Outs: IKEA, Ox & Olive, Versace Pop-up
By • October 20, 2025 0 904
Apparently, the big brands and big names want to be in Georgetown, Washington, D.C.’s oldest neighborhood, which draws 12 million visitors annually.
In: IKEA to Open on Nov. 5
Leading home furnisher IKEA is opening a planning location on Nov. 5 at 3307 M St. NW in the previous location of the Todd Snyder pop-up and CB2 — and next to Tesla. The brand signed a lease with EastBanc and Acadia Realty Trust, co-owners of the Georgetown Portfolio, for the 7,049-square-foot space.
The store is not your standard IKEA, of course, considering Georgetown’s density. The new space will allow customers to plan and order furnishings with the help of an IKEA team member, with delivery and scheduled services available.
IKEA is celebrating 40 years in the U.S, (Anyone remember driving to Woodbridge in 1986 to see the new furniture store from Sweden?)
EastBanc and Acadia previously brought in Skims, Cotopaxi and more — and set up the design district along the 3300 block of M Street NW.
“I am excited to welcome IKEA, a leader in design and corporate governance with an unwavering commitment to social impact, to Georgetown,” said Anthony Lanier, President and CEO of EastBanc, in a statement. “With their arrival, you can now walk from Italy to Sweden in under a minute.”
Chef Ryan Ratino. Courtesy Hive Hospitality.
Coming: Ox & Olive
Chef Ryan Ratino plans to open a steakhouse in Georgetown, “the fulfillment a lifelong dream for the Ohio native raised on steak and potatoes who rose to culinary prominence with Michelin Star-starred restaurants Jônt and Bresca,” the Washington Business Journal first reported.
Ratino and his Hive Hospitality will open Ox & Olive at 3201 Cherry Hill Lane NW, formerly the home of Johnny Spero’s Reverie, which closed on Oct. 4.
Ratino “inked a 10-year lease with the buildings owners, Jessica and Ezra Glass, in September,” according to WBJ, which added, “The steakhouse idea had been marinating for some time before the Reverie space became available, and Ratino had been on the hunt for the past few years for the right space in Georgetown.”
“We love Johnny, so having that opportunity is super special,” said Ratino, who leads Hive Hospitality, with restaurants in Washington, D.C., Florida, and a new one, Ode by Jônt, opening soon in Los Angeles.
In: Versace Pop-up
A Versace shop has popped up at the former location of the designer boutique Solbiato Sport at 1511 Wisconsin Ave. NW.
Out: LaPerla Closed on Sunday
Ristorante La Perla at 2600 Pennsylvania Ave. NW closed on Oct.19., and its furnishings will auctioned off on Oct. 27.
Chef Vittorio Testa, La Perla’s 82-year-old owner, said, “After 26 years as the owner and chef of La Perla Ristorante, and 45 years in the restaurant business, including Il Borgo in McLean, Leonardo DaVinci and Mona Lisa in Washington Harbor, I have made the decision to retire.”
Testa continued, “ I have been dedicated to providing the best Italian food and exceptional dining experience in a room filled with Italian artifacts and memorabilia. I want to thank all of my many friends who have frequented La Perla over these many years and made this restaurant so successful in Washington, D.C.
Matt Quinn, vice president of Quinn’s Auction Galleries has announced that his firm, in coordination with Rasmus Auctions, will handle the auction of the restaurant’s furnishings and equipment beginning Oct. 27.
