Nordstrom confirms New York opening

US department store giant Nordstrom is finally opening

a branch in the New York, America's shopping and retail capital.

According to reports, the company has searched 25 years for the ideal location, which they finally secured on 57th Street near 7th Avenue. The property is being developed in partnership with property managers Extell Development Co, and will occupy a lofty 285,000 square feet over seven floors.

The objective of the new opening is to turn Nordstrom into a global brand and competitor with department store heavyweights Saks Fifth Avenue, Bloomingdale’s, Neiman Marcus and Bergdorf Goodman.

New York mayor Michael Bloomerg estimated that retail sales in New York will reach $52 billion, doubling the sales of 10 years ago, as the department store has become more alluring with its product offer in recent years.