Resilient retail: What’s new meets what’s now - by Faith Hope Consolo

June 20, 2017 - Shopping Centers
Faith Hope Consolo, Douglas Elliman

The current state of the retail market appears to be on a roller-coaster ride for the ages, with so much talk of closings, you could miss all the openings, relocations, renovations and pop-ups coming along at a dizzying pace. For all the doom and gloom reports, New York City shopping is actually stronger than ever. Like in every business cycle, we have some corridors going from good, to too good, to bad, to worse, but we have so many others going from not bad, to good, to great. Retail is resilient, so we remain optimistic and look forward to shopping’s new frontiers.

On Fifth Ave., French apothecary brand L’Officine Universelle Buly is reconnecting to its art deco roots with a shop-in-shop at Bergdorf Goodman, 754 Fifth Ave. Boutique Cartier NYC Central Park, 767 Fifth Ave., has decided to stay permanently to complement the renovated Cartier Mansion at number 653. Tag Heuer has leased 685 Fifth Ave. with Coach House and Stuart Weitzman. Saks Fifth Ave. has opened The Wellery concept shop in its Fifth Ave. flagship on the second floor, offering “immersive experiences” of wellness; products, classes and services for a healthier life, with the most sought-after fitness classes and equipment, women’s and men’s activewear and athleisure apparel, and skincare products and treatments. There is even a Saks Wellery Concierge to ensure guests make the most of the life-affirming experience.

On Madison Ave., Louis Vuitton has a temporary boutique at 655 Madison Ave. dedicated to the Louis Vuitton and Jeff Koons collaboration called Louis Vuitton Masters. Balenciaga opening soon at 840 Madison Ave. in the former Gucci location. Ever After premier children’s boutique is taking the southeast corner of 84th St., 1121 Madison Ave.. Switzerland-based fashion brand Bally has opened its relocated New York flagship along Madison Ave. and 62nd St., selling their collection of men’s and women’s shoes, leather goods, accessories and ready-to-wear.

Look at this lineup of premier labels that recently graced the gilded Ave., as per the the Madison Ave. Business Improvement District (BID):

• Acne Studios: 926 Madison Ave.

• Alison Lou: 20 East 69th St.

• Aquatalia: 965 Madison Ave.

• Barton Perreira: 42 East 66th St.

• Brioni: 688 Madison Ave.

• Edie Parker: 781 Madison Ave.

• Elie Saab: 860 Madison Ave.

• Kilian: 946 Madison Ave.

• Luxury Card Lounge: 645 Madison Ave.

• Moda Operandi: 24 East 64th St.

• Pinko: 1058 Madison Ave.

• Rag & Bone: 11 East 68th St.

• Vhernier: 783 Madison Ave.

• Vinotherapie Spa by Caudalie: 819 Madison Ave.

On 57th St., the prominent Park Ave. corner, that has been vacant for six years, is coming back to life with the arrival of London-based men’s clothier Richard James at 465 Park Ave. Swiss watchmaker Richard Mille will finally have their East Coast boutique at 46 East 57th St., the retail side of 432 Park Ave., the tallest residential building in the western hemisphere.

On the Upper East Side, Bloomingdale’s debuted their newly renovated Bed & Bath Shop on the sixth floor of its 59th St. flagship. Bardith fine antique porcelain and pottery relocated to 79th St. between Park and Lexington Aves.

In Herald Sq., another brick-and-mortar Amazon Books shop is set to open this summer at 7 W. 34th St., between Fifth and Sixth, in addition to the Amazon set to open in Columbus Circle this spring.  Jo Malone London has landed at Sephora 34th St.

In Chelsea, furniture chain Jennifer Furniture is moving its flagship store to a historic loft building along Ladies’ Mile, 655 Avenue of the Americas.

In SoHo, premium online rental tuxedo destination The Black Tux has announced the opening of its first retail location in NYC at 243 Centre St., featuring its entire collection of tuxedos, suits, shirting, and accessories. São Paulo-based Brazilian beauty giant NaturaBrasil opened its first U.S. brick-and-mortar store at 240 Elizabeth St. Artists & Fleas’s, the curated retail marketplace offering products made by local designers, artists and independent brands, to set up shop at 568 Broadway in former Armani Exchange location.  

Aldo is relocating to a smaller space at 556 Broadway from 579 Broadway across the St.. Los Angeles-based denim brand AG Jeans has a new 2,000 s/f flagship, 113 Greene St., and an additional NYC outpost is slated for the Hudson Yards development.  London, U.K St. wear and skateboard brand Palace launched at 49 Howard St.

In the Financial District, men’s tailored clothing Suitsupply has opened at Brookfield Place, 230 Vesey St.. Alamo Drafthouse Cinema is opening a 10-screen, 40,000 s/f luxury film complex next year at 28 Liberty St..

So, despite what you may have heard, read, been told, NYCretail is alive and oh so well!

Happy Shopping!

Faith Hope Consolo is the chairman of Douglas Elliman’s retail leasing, marketing and sales division, New York, N.Y.


Add Comment

More from the New York Real Estate Journal