Fifth Avenue news and archive

Prada buys New York Fifth Avenue store building for 425 million dollars

Prada has completed the purchase of a building on Fifth Avenue for 425 million dollars, a move signaling its transition from leasing the five-story boutique at 724 Fifth Avenue, which it has done since 1997. The acquisition aligns with Prada's strategic vision to focus on the US market where its sales have been less than robust, emphasising the...

Retail

Swarovski opens largest flagship store to date on Fifth Avenue, New York

Swarovski has opened its largest flagship store to date on New York's iconic Fifth Avenue as part of its wider global retail strategy. Opening its doors to the public just in time for the holiday season, the new 14,400-square-foot, two-story store features a unique concept by creative director Giovanna Engelbert that seeks to pay homage to the...

Retail

Abercrombie and Fitch opens new Fifth Avenue store

American fashion brand Abercrombie and Fitch announced the recent opening of a new store in New York City, located at 668 Fifth Avenue. Situated between 52nd and 53rd, the store has joined a vast array of other retail locations lined up on Fifth Avenue, which is considered as one of New York's leading shopping hubs. Offering men’s, women’s,...

Retail

Louis Vuitton set to open new flagship on Fifth Avenue

As several luxury flagship locations keep popping up on New York’s Fifth Avenue, Louis Vuitton is the next in show, according to the New York Post. The retail hotspot has recently seen the opening of the new Tiffany flagship, and the building of the new 21-story Rolex headquarters is underway. In a similar fashion, the new Louis Vuitton flagship...

Retail

New York’s Fifth Avenue is the world’s most expensive retail street

New York’s Fifth Avenue has reclaimed its position as the world’s most expensive retail street. The data was released by global commercial real estate services firm Cushman & Wakefield, who said the average rents of 2,000 dollars per sq ft beat Hong Kong’s 1,436 dollars per sq ft and Milan’s via Montenapoleone at 1,380 dollars per sq ft. It is...

Retail

Mango to open flagship store on New York's Fifth Avenue

Spanish fashion retailer Mango is to open a flagship store on New York’s iconic Fifth Avenue in the first half of 2022, bringing its total number of US stores to nine. Located in Plaza District, in the Grande Dame building, the store will have a selling space of close to 2,100 square meters and will carry the retailer’s women’s, men’s and kid’s...

Retail

Valentino sues to close Fifth Avenue store

Valentino is suing the landlord of its Fifth Avenue store in an attempt to terminate their lease. Valentino says that the FIfth Avenue location is no longer prime retail space due to the coronavirus pandemic. In March when New York City went on lockdown, Valentino's four-story flagship store closed like all non-essential businesses. During the...

Business

Gap to close flagship store on Fifth Avenue as part of high-performance plan

Gap will start 2019 strong: the U.S. fashion label will be shutting down a large number of poor performing stores nationwide. Its flagship in Manhattan’s Fifth Avenue will be one of the first to close its doors. Gap (GPS) is set to shut its massive NYC store on Fifth Avenue, CNBC reports, as the apparel retailer recently said it is considering...