Adding to the continued loss of Manhattan shopping street Fifth Avenue, Tommy Hilfiger, has finally closed the shutters of the 22,000-square-foot global flagship at 681 Fifth Avenue. The brand recently announced the closing of the Collins Avenue flagship in Miami on April 28 as well.
Other brands that have vacated the avenue are Lord & Taylor, Gap, Henri Bendel and Ralph Lauren Corp. for Polo Ralph Lauren.
Designed by Callison Architects and the Hilfiger creative team, the Tommy Hilfiger flagship had launched in 2009, taking the spot from by Fortunoff.
The only two full-price Hilfiger stores in North America for Tommy were the Fifth Avenue flagship and the 9,000-square-foot Miami store, in addition to other 200-plus outlets. The brand has more than 1,500 full-price stores globally, which includes owned and operated, franchise and distributor, licensee and concession models.
“In line with our strategic objective to further reach and engage with digitally savvy North American consumers, we will focus on next generation retail experiences and partnerships to stay ahead of today’s continuously changing shopping habits and preferences,” – Daniel Grieder, Chief Executive Officer, Tommy Hilfiger Global and PVH Europe
“This means we are reshaping our retail landscape in North America, closing the New York City Fifth Avenue Tommy Hilfiger store and the Tommy Hilfiger store on Collins Avenue in Miami, Fla. Leveraging our store-of-the-future concepts rolled out in the global retail landscape, going forward North America will be the lighthouse region to develop and test new modular, digitally infused retail concepts.
“We continue to invest in tommy.com and the ongoing expansion of strong wholesale distribution partners that keep consumers at the heart of our brand,” he added.
The flagship hosted the iconic three-week pop-up event to spotlight the Tommy x Zendaya spring 2019 collection.
PVH will release its quarterly figures on Wednesday to disclose the lease terms, as Hilfiger declined to reveal any details regarding the same. The brick & closing has not hampered the success of the brand. In the third quarter of fiscal 2018, Hilfiger’s revenues rose 11 percent to $1.1 billion. Its collaborative shows with fashion icons like Gigi Hadid and Zendaya have earned billions of social media impressions, making their e-commerce more popular as well.
Another PVH-owned brand, Calvin Klein is reportedly set to close its 18,000-square-foot, three-level flagship store Madison Avenue this spring.
