Like many other national retailers recently, Michael Kors has its sights set on lower King Street.

The upscale retailer submitted design plans to the city regarding a move to 263 King St. in place of BCBG Max Azria. A timeframe for the transition hasn't been released yet.

The downtown boutique near Wentworth Street would be Michael Kors' only store in South Carolina that isn't part of a discount outlet center. The retailer, which specializes in upscale apparel and accessories for men and women, opened its first factory store in the state in 2012 at Tanger Outlet in North Charleston.

Kors became one of the few billionaires among fashion designers Tuesday when shares of his Michael Kors Holdings jumped after reporting its second-quarter earnings soared 77 percent, Forbes reported. The move earned Kors $34 million, pushing his net worth just past the $1 billion mark.

In for a landing

One of West Ashley's oldest shopping centers has changed hands for $19.2 million.

Faison Enterprises, a Charlotte-based real estate firm, has acquired Ashley Landing Shopping Center at 1401 Sam Rittenberg Blvd.

The seller of the 350,000-square-foot center was New York-based Ashley Plaza Mall Associates. It had owned the center since 1976, according to property records.

Built in the early 1970s as Ashley Plaza Mall, the property is 92 percent occupied with tenants including Publix, Burlington Coat Factory, Big Lots and a handful of banks. The new owner putting together plans to update the center, said David Lampke, managing director of acquisitions with Faison.

Obstinate update

The Obstinate Daughter, a new restaurant heading into the former Atlanticville dining space on Sullivan's Island, has pushed back its opening to early March, said general manager Jonathan Bentley.

The Italian-Lowcountry fusion restaurant at 2063 Middle St. is owned by the same restaurateurs behind the Wild Olive on Johns Island.

The Obstinate Daughter will occupy the second floor and will seat 100 diners, Bentley said. The bottom floor will house The BeardCat Sweet Shop, which will specialize in house-made gelato and sorbet by Wild Olive's pastry chef, Caroline Sherman.

Jacques Larson, executive chef of Wild Olive, will also oversee the kitchen at The Obstinate Daughter. Bentley said the new venture plans to hire about 30 to 40 employees.

Shack shutters

The RadioShack in Citadel Mall closed last week, a few days before The Wall Street Journal reported that the chain planned to shutter 500 of its 4,300 stores. Associates with several other RadioShacks in the Charleston market said they hadn't been informed of any further closures. The company has not yet said which stores it intends to close, the Journal report says.

Reach Abigail Darlington at 937-5906 and follow her on Twitter @A_Big_Gail